Guaranty Trust Bank plc Financial Results - Dec 2008 (10 months) Guaranty Trust Bank 1

Important Notice This presentation is based on the financial results of the Banks audited results for the period ended December 2008 consistent with Nigerian GAAP only. Guaranty Trust Bank Plc (GTBank, the Bank) has obtained some information in this presentation from sources it believes to be reliable. Although GTBank has taken all reasonab le care to ensure that the information herein is accurate and correct, GTBank ma kes no representation or warranty, express or implied, as to the accuracy, corre ctness or completeness of such information. Furthermore, GTBank makes no represe ntation or warranty, express or implied, that its future operating, financial or other results will be consistent with results implied, directly or indirectly, by such information or with GTBanks past operating, financial or other results. A ny information herein is as of the date of this presentation and may change with out notice. GTBank undertakes no obligation to update the information in this pr esentation. In addition, some of the information in this presentation may be con densed or incomplete, and this presentation may not contain all material informa tion in respect of GTBank. Except where indicated, the exchange rate adopted thr oughout the presentation is US$1 to N139.5 (official exchange rate December 31, 2008). Unless stated otherwise, all figures and ratios have NOT been annualized and are reported on a 10month basis. This presentation also contains forward-look ing statements that relate to, among other things, GTBanks plans, objectives, goal s, strategies, future operations and performance. Such forward-looking statement s may be characterised by words such as estimates, expects, projects, believes, in ans, may, will and should and similar expressions but are not the exclusive means of entifying such statements. Such forward-looking statements involve known and unk nown risks, uncertainties and other important factors that could cause GTBanks op erating, financial or other results to be materially different from the operatin g, financial or other results expressed or implied by such statements. Although GTBank believes the basis for such forward-looking statements to be fair and rea sonable, GTBank makes no representation or warranty, express or implied, as to t he fairness or reasonableness of such forwardlooking statements. Furthermore, GT Bank makes no representation or warranty, express or implied, that the operating , financial or other results anticipated by such forward-looking statements will be achieved. Such forward-looking statements represent, in each case, only one of many possible scenarios and should not be viewed as the most likely or standa rd scenario. GTBank undertakes no obligation to update the forward-looking state ments in this presentation. Guaranty Trust Bank 2

Outline GTBanks Financial Highlights GTBank Overview (DEC 2008) Operating Environment Bus iness Strategy and Objectives Guaranty Trust Bank 3

GTBanks Financial Highlights Guaranty Trust Bank 4

GTBanks Financial Highlights (YE Dec 2008) DEC 2008 (10 months) PBT - $247m Deposits - $3.2bn Loans - $2.99bn NPL - 1.7% Shareholder s Funds - $1.3bn Assets* - $9.5bn Robust & Sustainable Growth (10 months) PBT - +26.7% Deposits Loans +25.2% +42.8% NPL one of Industrys lowest Shareholders Funds - +11.5% Assets* - +27.4% **RoAA of 5.0% & **RoAE of 24.3%, up by 40% and 18% (respectively) from Feb 2008 Continuously Improving Over 1.35m retail customers as of Dec 08 up by 21% from 1.07m in Feb 08 Cost/Inc ome ratio of 50.69%, improved by 5.2% from Feb 2008 Most Customer Focused and Fr iendly Bank [retail] in 2008 by KPMG and Vanguard; Best Bank in Corporate Govern ance in 2008 by Vanguard GTBank Financial Highlights Continued Increase in local branch network and alternate delivery channels Growing International, and Local presence Opened new bank subsidiary and commenced operations in London in May 2008 Receiv ed provisional license to operate in Liberia Completed Anglophone Phase of Strat egic West African expansion Setup $2bn GMTN program in June 08; Global Medium Term Note Program Access to international capital markets with greater flexibility; Program allows m ulti-currency issues if and when required; Aim is to bolster banks FCY balance she et and meet clients demand Guaranty Trust Bank * Comprised of Total Assets and Contingents ** Using annualized estimates All do llar conversions are computed at N139.5 - $1 5

Income Statement Profit and Loss Accounts 10 months ended 31 December 2008 Group Group 31 Dec. 20 08 29 Feb. 2008 10 months 12 months $ m $ m 746.38 488.93 0.02 (160.31) 328.64 ( 28.98) 299.66 257.43 557.10 (304.93) 252.17 (49.19) 202.98 584.20 379.20 0.02 (1 39.18) 240.04 (28.20) 211.84 204.98 416.81 (220.63) 196.19 (44.44) 151.75 Bank B ank 31 Dec. 2008 29 Feb. 2008 10 months 12 months $ m $ m 682.04 459.09 0.02 (15 2.87) 306.24 (28.23) 278.01 222.93 500.94 (253.93) 247.00 (45.76) 201.24 555.30 365.92 0.02 (136.15) 229.79 (27.56) 202.22 189.36 391.58 (196.61) 194.97 (40.92) 154.05 54% 52% YOY Growth* Group 53% 55% YOY Growth* Bank 47% 51% GROSS EARNINGS INTEREST AND DISCOUNT INCOME Lease finance income Interest expens e INTEREST MARGIN Loan loss expense (net) 64% 60% Other income GTBank Financial Highlights Operating expenses PROFIT BEFORE TAXATION Taxation PROFIT AFTER TAXATION * - Annualized estimates All dollar conversions are computed at N139.5 - $1 61% 57% Guaranty Trust Bank 6

Balance Sheet Balance Sheets As at 31 December 2008 Group 31 Dec. 2008 10 months $ m 2,024 1,0 18 3,002 85 284 489 6,901 Group 29 Feb. 2008 12 months $ m 855 1,287 2,066 53 24 4 770 5,274 Bank 31 Dec. 2008 10 months $ m 1,806 914 2,985 287 258 356 6,608 Ba nk 29 Feb. 2008 12 months $ m 742 1,252 2,090 159 227 677 5,147 YOY Growth* Group 137% -21% 45% 60% 17% -37% 31% YOY Growth* Bank 143% -27% 43% 80% 14% -47% 28% ASSETS Cash and short-term funds Short term investments Loans and advances Long term investments Fixed assets Other assets TOTAL ASSETS LIABILITIES Deposits and other accounts Borrowings Other liabilities Equity GTBank Financial Highlights 3,385 451 1,760 1,305 6,901 2,971 9,872 2,602 402 1,099 1,171 5,274 2,334 7,608 3,203 451 1,667 1,287 6,608 2,894 9,502 2,559 402 1,031 1,155 5,147 2,312 7,459 30% 12% 60% 11% 31% 27% 30% 25% 12% 62% 11% 28% 25% 27% Contingents Balance Sheet Size * - Growth in 10 months (10 month Dec 08 vs. 12 month Feb 08) All dollar convers ions are computed at N139.5 - $1 Guaranty Trust Bank 7

Financial Ratios Key Financials ($ m) Balance Sheet Total Advances and Loans to Customers Total Deposits from Customers Shareholders Funds Total Assets Total Assets and Contin gents Profit and Loss Account Interest Income Non-Interest Income Profit Before Taxes Profit After Taxes Performance Ratios Return on Average Assets (RoAA) 3.41 % 16.15% 6.44% 55.16% 3.48% 23.63% 6.16% 52.01% 3.32% 27.88% 5.40% 54.01% 3.59% 20.62% 6.79% 53.48% *5.04% *24.28% 7.68% 50.69% 109.40 58.03 50.21 38.21 152.97 76.21 71.86 56.67 224.89 107.61 110.04 93.28 365.92 189.36 194.97 154.05 459.09 222.93 247.00 201.24 45.42% 42.11% 51.59% 54.31% 466.20 685.04 259.27 1,203.57 1 ,614.11 598.40 1,525.69 291.37 2,186.96 2,774.23 815.09 2,084.53 340.02 3,429.17 4,253.55 2,089.83 2,559.18 1,154.70 5,146.95 7,458.51 2,985.26 3,203.00 1,287.1 0 6,608.01 9,501.55 62.39% 49.59% 51.95% 55.99% 58.86% 28-Feb-05 28-Feb-06 28-Fe b-07 28-Feb-08 31-Dec-08 CAGR GTBank Financial Highlights Return on Average Equity (RoAE) Net Interest Margin Cost/Income Balance Sheet Ra tios Loans to Customers/ Customer s Deposits Liquidity Ratio Capital Adequacy Ra tio Asset Quality Ratios NPL/Total Loans 63.70% 63.33% 28.95% 39.20% 69.22% 22.41% 33.40% 69.99% 16.64% 70.60% 51.86% 27.55% 81.70% 42.00% 22.11% 2.11% 157.25% 3.37% 120.59% 2.00% 127.60% 1.19% 172.00% 1.70% 122.00% Guaranty Trust Bank Provisions for Loan Losses/NPL * Based on annualized estimates 8

Milestones Key Events GTBank moves year end to December In line with recommendations issued in May 2008 by the Central Bank of Nigeria ( CBN), GTBank moved its year end from February 28 to December 31. Ratings and Awards Ratings (2009) Agusto & Co. Fitch Standard & Poors Aaa AA- BB- GTBank opens UK subsidiary. GTBank opens Guaranty Trust Bank UK, a fully operational retail bank located at 62 Margaret Street, London. Awards Most Customer Focused Bank (retail) KPMG 2009 2nd Most Customer Focused Bank (co rporate) KPMG 2009 Best Bank in Nigeria - JP MorganChase, Oct. 2008 Report Bank of the Year, Best Bank in Corporate Governance, Most Customer Friendly Bank Vang uard Awards Deal of the Year for Nigeria 08 Banker Magazine Awards Setup $2bn Global Medium Term Note Program (GMTN) Launched Asset Management Subsid iary- April 08 Growing Presence International New Products Nigerias first fully automated mobile bank branch Nigerias first Drive-Through ATMs F ully automated E- Branches Initiated development of Naira Denominated Mastercards Initiated the development of Prepaid Master & Visa Cards Developed new Student de dicated accounts GTBank Financial Highlights GTBank completes Anglo West Africa Expansion With the acquisition of a provisional operating license in 2008 and the launch o f GTBank Liberia in 2009, GTBank completed the Anglophone phase of its planned ex pansion into West Africa Nigeria 142 Branches 398 strategically located ATMs 1.34million retail customers Guaranty Trust Bank 9

GTBank Overview (DEC 2008) Guaranty Trust Bank 10

Robust Profitability Stable and Consistent Growth Stable and Consistent Growth Stability and Consistency Stable and consistent Return on Average Equity post capital raising in 2004 and 2007 Stable and Consistent Return on Average Asset Stable and Consistent Dividen d Payout Stable and Consistent Growth in Earnings with 53% CAGR over past 5 fina ncial years 3.41% 3.48% 3.32% 3.59% 5.04% 16.15% 23.63% 20.62% 27.88% 24.28% RoAE and RoAA RoAE and RoAA 28- Feb-05 28- Feb-06 28-Feb-07 28-Feb- 08 31-Dec- 08 Return on Average Assets (RoAA) Return on Average Equity (RoAE) Source: Company data, as of 31 December 2008 (10 months) Dividends Dividends GTBank Overview (Dec 09) Earnings [after tax] $m Earnings [after tax] $m 54% 59% 63% 67% 73% R CAG % 54.3 154.05 201.24 93.28 38.21 56.67 Feb 2005 Feb 2006 Feb 2007 Feb 2008 *Dec 2008 To tal Dividend P er Share EP S 28-Feb-05 28-Feb-06 28-Feb-07 28-Feb-08 31 Dec 2008 ## Dividend Payout ratio Profit After Taxes ($ m) Source: Company data, as of 31 December 2008 (10 months)

* - Proposed Final Dividend for Dec 2008. No interim was declared due to new YE Guaranty Trust Bank Source: Company data, as of 31 December 2008 (10 months) 11

Business Overview Selected highlights Focus on multinationals and large corporates, with turnover in excess of US$40 m Organised in 5 groups: Energy, Telecoms, Corporates, Corporate Finance and Trea sury Voted Best Bank in Corporate Governance by Vanguard in 2008 Active customers About 400 Contribution to GTBank Institutional banking 27.2% 46.9% Commercial banking Focus on small & medium companies, with turnover between US$2 m and US$40 m Exte nsive product range: tailor-made solutions and flexibility In-depth knowledge of local market Focus on: Federal government State governments Local governments a nd clients Focus on retail customers Rapidly developing business 142 branches an d 398 ATMs Extensive leverage of alternative distribution channels 67.8% Over 50,000 18.7% 17.9% Public sector banking Active in all government segments 28.4% GTBank Overview (Dec 09) 16.8% 9.9% 36.2% 5.8% 14.8% 9.6% Loans Deposits PBT Retail banking Over 1.34m retail customers Supported by strong support centres Finance Operations/ HR Risk management Information technology Guaranty Trust Bank

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Regional Presence and Diversification GTBank (Sierra Leone) Commenced Operations Jan 2002 84% Ownership 4 Branches P&L Positive Total Number of Banks: 13 GTBank (Gambia) Commenced Operations Mar 200 2 78% Ownership 8 Branches P&L Positive Total Number of Banks: 11 GTB Asset Comm enced Operations - Feb 1991 Listed on the NSE & LSE Over 300,000 Shareholders 6 overseas subsidiaries 5 Bank Subsidiaries 5 non-Bank Subsidiaries GTBank Group G uaranty Trust Assurance plc Commenced Operations -May 2002 74% Ownership Total N umber of Insurance Coys US$13.5m profit before taxes (2008) Strong National Cove rage through GTBanks regional branch network GTBank Nigeria Management Limited Commenced Operations April 2008 100% Ownership AM products and services to HNIs and Institutions International GTBank (Ghana) Commenced Operations Mar 2006 70% Ownership 10 Branches P&L Posit ive (Others) Mauritania Senegal Benin Republic Togo Niger Mali Non Bank GT Homes Limited Commenced Operations - Jan 2008 100% Ownership Financing of pro perty development and mortgages Strategic Expansion GTBank Overview (Dec 09) Total Number of Banks: 26 GTB UK (London) Commenced Operations - May 2008 To fac ilitate trade and retail between the UK and West African countries Guinea Cte d Ivoire Burkina Fasso Guinea Bissau Regional Expansion into West Africa (WA) Completed expansion plans into Anglopho ne West Africa Expansion into Francophone West Africa underway Positioning for g rowth and reforms Single Currency Integration of WA economies Promotion of WA regio nal trade, gas pipeline etc. GTB Registrars Limited Diversification in profitable business segments with stro ng medium to long term prospects Strengthen Competitive advantage by offering ex isting clients products to cater to their financial needs. Increase profitabilit y and market share Focus on customer satisfaction and retention Increase operati onal synergies within financial services offered to clients Commenced Operations - Sep 2006 99% Ownership Captive Registrar Services GTB Finance BV Commenced Operations - Dec 2006 100% Ownership SPV for debut of t he $350mm Eurobond issue in January 2007 GTBank (Liberia) Commenced Operations Mar 2009 100% Ownership Total Number of Ba nks: 8 Guaranty Trust Bank

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Revenue Composition Strong Revenue-Growth model Strong Revenue-Growth model Strong Revenue Growth 45.4% CAGR for Interest Income Mix 42.1% CAGR for Non- Interest Income Mix Total Revenue 5 year CAGR of 44.3% Revenue growth $m (Gross Earnings) Revenue growth $m (Gross Earnings) R CAG % 44.3 1 89.36 222.93 Growth generated by increased lending opportunities in the real sector, resultin g in greater opportunities for fees and commissions. Increased transactions volu mes to generate increased income from transaction fees, charges, commissions and foreign exchange earnings 1 07.61 76.21 58.03 1 09.40 28-Feb-05 1 52.97 28-Feb-06 224.89 459.09 365.92 28-Feb-07 28-Feb-08 31Dec 2008 Interest Income Non-Interest Income Source: Company data, as of 31 December 2008 (10 months) Interest Income Mix $m Interest Income Mix $m 459 Non Interest Income Mix $m Non Interest Income Mix $m .1% 42 223 189 15% 18% GTBank Overview (Dec 09) R CAG .4% 45 366 R CAG 86% 225 153 109 64% 76 5% 31% Feb-08 4% 108 13% 12% 21% 10% Dec-08 Lo ans and A dvances

38% 38% 52% 3% 10% 3% 45% Feb-07 58 43% 45% Feb-06 36% 44% 47% 51% Feb-07 Feb-08 Dec-08 68% 29% Feb-05 71% 2% 26% Feb-06 39% 40% Feb-05 Dealing and Other Securities P lacements and Sho rt Term funds Commissions Fees and charges Other Incomes Guaranty Trust Bank Source: Company data, as of 31 December 2008 (10 months) Note 1. Other fees incl ude Foreign Exchange earnings and other fees Source: Company data, as of 31 December 2008 (10 months) 14

Efficiency and Productivity Improvements Efficient and Conservative Cost Profile Efficient and Conservative Cost Profile Conservative cost profile Cost to income ratio of 50.69% Below managements maximu m of 60% Stable Cost profile Maintained low infrastructure related costs such as power etc through innovative operational policies. Personnel costs in line with industry GTBank remains one of the most efficient in Nigerian banking industry 50.69% Cost/Income ratio Cost/Income ratio 54.01% 53.48% 28-Feb-07 Cost to Income 28-Feb-08 31 Dec 2008 Source: Company data, as of 31 December 2008 (10 months) Branches and Employees Branches and Employees GTBank Overview (Dec 09) Stable Operating Cost profile Stable Operating Cost profile 2500 2000 1500 1000 500 0 28-Feb-07 Staff B ranches 1 7 61 1 02 1 31 1 42 150 100 60% 58% 1

2355 50 0 60% 12% 28% 10% 13% 29% 30% 28-Feb-08 31 -Dec-08 Feb-07 Staf f Expenses Depreciat ion Feb-08 Operat ing Expenses Dec-08 Guaranty Trust Bank Source: Company data, as of 31 December 2008 (10 months)

894

Source: Company data, as of 31 December 2008 (10 months) 15

Strong Balance Sheet Growth Comments Comments Strong asset and deposit growth of 58.9% and 49.6% respectively (CAGR Feb 2005 D ec 2008) Asset growth driven by government reforms and recent economic growth in the Nigerian economy Diverse Funding mix with priority on increasing deposits t hrough steady growth and optimization of branches and delivery channels Increasi ngly utilizing funds to high margin top-end quality loan activities To tal Lo ans 4.25 2.77 1 .61 1 2.08 .53 0.69 0.60 0.82 0.47 2.56 2.09 2.99 3.20 7.46 Asset, Loan and Deposit Growth $bn Asset, Loan and Deposit Growth $bn 9.50 Feb-05 Feb-06 Feb-07 Feb-08 Dec-08 To tal Depo sits To tal A ssets & Co ntingent s Funding base diversified further through issue of US$ 350m Eurobond and US$ 824m GDRs Source: Company data, as of 31 December 2008 (10 months) Asset Base and Components Asset Base and Components GTBank Overview (Dec 09) Funding Mix Funding Mix 14% 2% 11% 4% 27% 15% 2% 24% 18% 3% 9% 4% 22% 13% 14% 10% 22% 17% 20% 8% 25% 19% 39% 41% 33% 45% 17% 4% 3% 12% 7% 17% 34% 14% 24% 57%

70% 61% 50% 48% 28% 24% 26% 14% Feb-07 Lo ans and advances 27% Feb-05 Cash and sho rt-term funds Feb-06 Sho rt term investments Feb-08 Lo ng term investments Dec-08 Other assets Feb-05 Deposit s and ot her account s Feb-06 Borrowings Feb-07 Other Liabilit ies Equity Feb-08 Dec-08 Guaranty Trust Bank Source: Company data, as of 31 December 2008 (10 months) Source: Company data, as of 31 December 2008 (10 months) 16

Strong Net Interest Margins Comments Comments Consistently Strong NIM Yield and Cost of liabilities were generally higher in the industry due to initial anticipation of common YE among banks. This fuelled fie rce competition for deposits which drove rates higher. The CBN has released a rec ent directive capping loan interest rates at 22% and deposit rates at 15% to avo id similar spikes in the renewed drive to a common year end. Consistently low cos t of liabilities Growth in demand deposits through extensive branch network and i ncrease in alternate delivery channels. Feb-07 Average Yeild on Assets Feb-08 Dec-08 12.98% 9.88% Yield on Interest Earning Assets Yield on Interest Earning Assets 9.32% Source: Company data, as of 31 December 2008 Cost of Interest Bearing Liabilities Cost of Interest Bearing Liabilities GTBank Overview (Dec 09) Net Interest Margin Net Interest Margin 5.30% 4.09% 3.70% 7.68% 6.79% 5.40% Feb-07 Average Cost of Liabilities Feb-08 Dec-08 28-Feb-07 Net Interest Margin 28-Feb-08 31-Dec-08 Guaranty Trust Bank Source: Company data, as of 31 December 2008 (10 months) Source: Company data, as of 31 December 2008 (10 months) 17

Capital Adequacy and Liquidity Comments Comments Capital Adequacy well above Basel requirement of 10% Strong liquidity ratio above regulatory minimum of 25% Loan to Deposit ratio shows growth in lending post Janu ary 2007 Eurobond offering 28.95% 22.41% 16.64% 27.55% 22.11% Capital Adequacy Ratio Capital Adequacy Ratio 28-Feb-05 28-Feb-06 28-Feb-07 28-Feb-08 31-Dec-08 Capital Adequacy Ratio Source: Company data, as of 31 December 2008 Loan to Deposit Ratio Loan to Deposit Ratio GTBank Overview (Dec 09) Liquidity Ratio Liquidity Ratio 81.70% 70.60% 63.70% 63.33% 69.22% 69.99% 51.86% 39.20% 42.00% 33.40% 28-Feb-05 28-Feb-06 28-Feb-07 28-Feb-08 31-Dec-08 28-Feb-05 Liquidity Ratio 28-Feb-06 28-Feb-07 28-Feb-08 31-Dec-08

Loans to Customers/ Customer s Deposits Source: Company data, as of 31 December 2008 Source: Company data, as of 31 December 2008 Guaranty Trust Bank 18

Loan Portfolio Diversification and Quality Best in Class in Nigerian banking industry Best in Class in Nigerian banking ind ustry GTBank is taking advantage of quality lending opportunities in the institutional and commercial banking space Portfolio well spread across sectors with concentr ation is stable and established institutions Consistently improving asset qualit y on the back of sound risk management practices NPL ratio of 1.7% - within Mana gements target of < 5% High coverage ratio - well above 100% Foreign exchange ris k averted through proper matching of dollar funding (e.g. Eurobond) to dollar ge nerating clients only. This applies across all forms of foreign exchange transac tions. Transportation & Communication, 21.89% Finance and Insurance, 8.92% Construction /Real Estate, 11.21% General Commerce, 28.72% Industry Concentration Industry Concentration Agriculture, 0.39% Mining, 7.39% Manufacturing, 21.22% Public Utilities, 0.25% Source: Company data, as of 31 December 2008 NPL and Coverage Ratios NPL and Coverage Ratios GTBank Overview (Dec 09) 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% 28-Feb-07 NPL/Total Loans 28-Feb-08 Provisio ns for Loan Losses/NPL 31-Dec-08 200.00% 180.00% 160.00% 140.00% 120.00% 100.00% 80.00% 60.00% 40.00% 20.00% 0.00 % Guaranty Trust Bank Source: Company data, as of 31 December 2008 19

GTBanks Profile Pre-eminent Institutional & Commercial Banking Franchise Institutional Banking Institutional Banking Traditionally strong, GTBank continu es to cultivate and expand key relationships Relationships with 90% of Nigerias corporates Commercial Banking Commercial Banking Covers the middle market Segment organised by geography and industry sectors to ac hieve proximity to clients to better address their needs Broad lending, product offering and customized solutions Overdrafts, term loans, commercial paper, bankers acceptances Most loans are sec ured by real estate Significant boost to the segment following the increase in capital base Able to increase lending to large borrowers (i.e. larger single obligor limit) i mport finance facilities; export credit lines; US denominated credits; equipment finance etc oil and gas; telecoms; real estate; construction manufacturing Wide product offering which includes: GTBank Overview (Dec 09) Focus on stable, high growth industries Syndications Syndications Key Clients Margins on Corporate Loans: 10% average NIM 0.5% facility fee; US$1,278 Million Syndicated Notes Issuance Facility Also under the corporate banking umbrella Treasury Group consisting of ALM, Funds Management and Trading (5 desks) Units C orporate Finance providing investment banking advice and loan syndications to ex isting Clients. Danote Group of Companies Lead Arranger Guaranty Trust Bank 20

GTBanks Profile (Contd) Strategic Distribution Expansion to Capture Increasing Opportunities North West # Branches - 10 # ATMs - 37 Effectively Employing Alternative Distribution Effectively Employing Alternative Distribution North East # Branches - 14 Established countrys 1st fully integrated Interactive Call Centre Other distribut ion channels such as internet banking, telephone banking, mobile banking, etc de ployed nationwide South West # Branches - 25 # ATMs - 63 # ATMs - 29 Lagos # Branches - 50 # ATMs - 149 Abuja - NC # Branches - 15 # ATMs - 46 Total # Branches - 142 # ATMs 398 South East # Branches - 28 # ATMs - 74 Bank on wheels: mobile banking unit to service remote communities Source: Company data, as of 31 December 2008 GTBank Overview (Dec 09) Numbers of Branches and ATMs Retail Banking Opportunity Retail Banking Opportunity 398 214 Servicing increased demand for retail banking products and services by Nigerias e merging middle class Target market: Traditionally, the upper segment of the economy; mainly employees of institution al banking clients Re-branded to attract a broader segment 0 34 1 39 6 60 72 84

83 108 131 142 Feb 03 Branches ATM s Feb 04 Feb 05 Feb 06 Feb 07 Feb 08 Dec 09 Increased reach efficiently and effectively by employing alternative distributio n channels GTBank is focused on expanding the liability side while following a p rudent approach to lending Focused on customer service and support Guaranty Trust Bank Source: Company data, as of 31 December 2008 21

GTBanks Profile (Contd) Expanding distribution network and channels Strong and growing local presence Strong and growing local presence 398 ATMs located in branches and in strategic locations 298 244 Continuing increase in Branches & ATMs Continuing increase in Branches & ATMs 398 357 184 new ATMs deployed since Feb 2008 Plan to increase ATM network to 1,000 by 20 12 1 32 1 39 1 41 1 42 Significant growth recorded in utilisation levels (branches/ATMs) Q1 B ranches A TM Q2 Q3 YE (1 mo nths) 0 142 branches and cash centres strategically located in key urban areas as of Dec 2008 11 branches opened since Feb 2008 Several branches in the pipeline, i.e. i n construction or awaiting CBN approval Network expected to increase in line wit h Management projections of 200 branches by 2012 Source: Company data, as of 31 December 2008 Growth in transactions via ATMs Growth in transactions via ATMs GTBank Overview (Dec 09) Branches are multifunctional catering predominantly for retail, commercial and p ublic sector clients 400 350 300 250 200 150 100 50 0 Value $ m 4,771 4,137 340 5,298 6,000 5,000 4,000 3,000 2,000 1,000 0 229 263 Q1 Volume 000 Q2 Q3

Source: Company data, as of 31 December 2008 Guaranty Trust Bank 22

GTBanks Profile (Contd) Leveraging on alternative distribution channels Sustainable growth profile Sustainable growth profile Telephone Banking Clientele 35,359 26,739 27,900 27,243 26,668 26,905

with impact on retail clientele base with impact on retail clientele base Telephone banking Available 24/7 to all customers First fully Interactive Voice Response in West Africa Number of active users = 35,359 Plan to use medium to te lemarket and cross-sell all banks products Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Internet Banking Clientele 38,186 35,140 31,112 26,852 27,002 32,116 Internet banking and internet payment systems Gaining traction and popularity am ongst users Available to all customers Number of active users = 32,1116 GTBank Overview (Dec 09) Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Retail Clientele (in millions) 1 .28 16 .1 1 .20 1 .24 1 .32 1 .35 Bank on Wheels First unit launched in April 2007 Cost efficient way to reach unb anked communities and provide ad-hoc banking services Jul-08 A ug-08 Sep-08 Oct-08

No v-08 Dec-08 Guaranty Trust Bank Source: Company data, as of 31 December 2008 23

GTBanks Profile (Contd) Growth across all distribution segments Market Position Market Position One of the 5 principal member banks of MasterCard in Nigeria One of the top bank s in transactions per ATM (efficiency) Ranked 2nd in Cards Usage on POS terminal s 5th in number of card transactions processed Ranked 4th in number of Point-ofSale (POS) terminals Apr-08 Jun-08 Aug-08 Oct-08 Dec-08 1008 875 919 Growth in POS terminals acquired Growth in POS terminals acquired 1,106 1,084 Source: Interswitch Report Source: Company data, as of 31 August 2008 Growth in Card volumes Growth in Card volumes GTBank Overview (Dec 09) Consistent growth in ATM & POS terminals Consistent growth in ATM & POS terminal s 1,463,213 1,308,619 1,194,126 1,032,202 1,082,043 875 919 1,084 1008 1,106 230 262 298 344 398 Apr-08 Jun-08 Aug-08 Oct-08 Dec-08 Apr-08 ATMs POS Terminals Jun-08 Aug-08 Oct-08 Dec-08

Guaranty Trust Bank Source: Company data, as of 31 August 2008 Source: Company data, as of 31 August 2008 24

Operating Environment Guaranty Trust Bank 25

Macro Economic Overview (2008) Financial Markets Financial Markets In 2008, the Global financial markets suffered a severe downturn. The Nigerian f inancial markets also experienced a similar correction in what, till March 2008, could have been seen as a bull market. Over the course of the year, the Nigeria n Stock Exchange Index declined by 45.77% Dec 31 2007 57,990.22 13,264.82 6,456.90 2,652.28 15,307.78 1,468.36 Dec 31 2008 31,450.78 8,776.39 4,434.17 1,577.03 8,859.56 903.25 YTD Chg. -45.77% -33.84% 31.33% -40.54% -42.12% -38.49% Exchange Rate Exchange Rate In 2008, in a reaction to the drastic drop in oil prices and other macroeconomic developments, the Central Bank of Nigeria devalued the Naira from N117/$1 to N1 39.5/$1 as at December 31, 2008. 145 140 135 130 Nigerian Stock Index Dow Jones Industrial Avg FTSE 100 Index Nasdaq Composite In dex Nikkei 225 Index S&P 500 Index 125 120 115 110 105 Se p-0 8 Au g-0 8 No v-0 8 De c-0 8 Ju l-0 8 Oc t-0 8 Crude Oil prices Crude Oil prices 2008 saw a 53.5% decrease in oil prices from Dec 31, 2007 (95.98) to Dec 31, 200 8 ($44.60). Inflation increased 76% over the year. Inflation is likely to be sus tained due to Naira devaluation in an import dependent economy $160.00 $140.00 $120.00 $100.00 $80.00 $60.00 $40.00 $20.00 $0.00 May08 Jul-08 8 08 8 Aug-0 8 Sep-0 8 Nov08 Apr08 Oct-0 8 8 Dec08 Jan-0 Feb-0 MarJ un-0 Government Government To reduce a dependence on oil as a major source of GDP, the Nigerian government began an initiative to introduce programs to boost productivity in the agricultu re sector e.g. the N200 Special Fund for Large Agriculture Credit Scheme. The me asures are expected to reduce the impact of crude oil price fluctuation and infl ation. It is expected that the CBN will be able to curtail further devaluation c urrent exchange rates if oil prices stay near or above $45 (Governments 2009 budg etary benchmark) The SEC and the CBN released new regulations and guidelines to stabilize the market. Guaranty Trust Bank Operating Environment 26

Regulatory Environment Central Bank of Nigeria Central Bank of Nigeria May 2008 CBN issues circular to Banks to adopt common Year end. August 2008 In r eaction to interest rate spikes CBN cancels move to common year end Sept 2008 Introduced discount window facility Directive to Banks giving them the option to restructure margin loans until 2009 Sept 2008 - CBN reduces MPR from 10.25% to 9.75%, CRR from 4% to 2% and liquidity ratio from 40% to 30%. April 2009 - CBN r educes MPR from 9.75% to 8%, CRR from 2% to 1%, and liquidity ratio from 30% to 25% Dec 2008 - Downward review of net Open Position Limits from 20% - 10% of sha reholders funds, Jan 2009 from 10% to 5%, April 2009 from 5% to 1% Jan 2009 - Fx purchases by banks to be used for eligible transactions and cannot be sold to othe r banks Jan 2009 - Introduction of 5 day utilization for all fx purchases (not l imited to RDAS) Rationale Rationale To further strengthen the banking sector and to enable better regulation of the banking industry To help banks manage their liquidity and curtain margin loan crisis To ensure a controlled workout of margin loans and to prevent undue panic and market over-re action To ensure continued market liquidity which would in turn stimulate econom ic growth To discourage currency speculation by banks To discourage official and parallel market arbitrage opportunities To reduce art ificial demand and distortions in the market To reduce fluctuation and stabilise exchange rates at 3% To maintain control of large currency transactions and bet ter regulate currency rates To reduce fluctuation and stabilize exchange rates a t 3% To enable easier and more efficient currency control the CBN created two ti er structure for BDCs To manage expectations, create stability and encourage tra de To further strengthen the banking sector, increase transparency and enable be tter regulation of the industry Operating Environment Guaranty Trust Bank Jan 2009 - Repurchase by CBN of Fx purchases (Other than RDAS) after the utiliza tion period at 1% maximum below its selling rate at the immediate previous RDAS Jan 2009 - Fx receipts by oil firms, Oil services companies and government agenc ies can be sold only to the CBN Feb 2009 - Bid/Offer margin on all Fx transactio ns by Authorized Dealers restricted to maximum of 1% & 2% around CBN rates for i nterbank and BDC respectively Feb 2009 - Re-classification of BDC operators into classes A&B Feb 2009 CBN commits to managing exchange rates between a band of + /-3% 2009 MPC meets to reinstate move to uniform year-end and IFRS reporting for all Banks starting December 2009 Source: CBN 27

Business Strategy and Objectives Guaranty Trust Bank 28

Business Strategy and Objectives (Medium to Long Term) No. 1 bank in Nigeria in terms of profit before tax and Return on Equity / Profi tability Maintain Cost to Income stability by managing costs Expand leadership p osition across West Africa 2012 Goals Focus on Growth business Enhance product and service offering Cost Leadership Institutional Capitalise on existing relationships Oil & Gas, Infrastructure, Telco Opportunities Insurance Mortgage Banking Investment Banking Advisory Capital Markets Project Finance Cost Control Monthly budgets Outsourcing of non-core functions Staff incentives for cost savi ngs Efficient distribution Invest in reliable technology Business Strategy and Objectives Increase penetration in growing sectors Hospitality, Real Estate Construction, Power West Africa selective expansion and investments Asset Management Efficient, Innovative banking for the Entire Value Chain GTBanks Client Employees Suppliers Distributors Customers Guaranty Trust Bank 29

Thank You Guaranty Trust Bank 30