Digital Banking and Financial Performance Review
Guaranty Trust Pension Managers
GTCO
Guaranty Trust Pension Managers
Business: Pension Fund
Managers
Licenses: Pension Fund
Administrator (PENCOM)
Acquired: Feb-22
Locations: Lagos, Abuja, Port
Harcourt, Kano, Kaduna.
Employees: 65
Target Segments: Public,
Private, HNIs, and Approved
Existing Schemes (AES).
Revenue (FY-22): N882mm
PBT (FY-22): N446mm
Milestones:
1,184% growth in PBT from
N34.8mm recorded in the
same period in 2021
(pre-acquisition)
Key Products
Retirement Savings
Account (RSA): An RSA
is an account opened
by a PFA on behalf of
an eligible RSA owner
for the purpose of
remitting retirement
contributions.
Contributions to RSAS
for employees is usually
18% of an employee's
basic, housing &
transport allowances.
(10% for employers, 8%
for employees)
Additional
Voluntary
Contribution (AVC):
These are voluntary
contributions that
can be made
together with the
mandatory
contributions
remitted by an
employer at the
instance of an
employee to
augment the RSA
balance.
Monthly AUM Growth
Approved Existing
Scheme (AES):
These are benefit
schemes for
employees of private
sector and
self-funding public
organizations, that
had pension
schemes existing
prior to the
commencement of
the Contributory
Pension Scheme.
Additional Exit
Benefit Scheme
(AEBS): An asset
management
service between an
organization and a
licensed PFA to
manage funds
contributed by
employees of that
organization towards
their retirement.
Micro-pensions:
pension product
targeted at
self-employed
individuals, as well as
those in the informal
sector who are not
covered by private or
government
employers.
N59.6 bn
N58.5 bn
N57.3 bn
N53.5 bn
N54.0 bn
N54.3 bn
N51.8 bn
N51.9 bn
N52.3 bn
N50.3 bn #50.4 bn
2022: N10.8bn growth (22%) in AUM
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
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