Nigeria’s largest lender by market value will open units in Kenya, Tanzania and Uganda as it seeks to expand in East Africa, Segun Agbaje, the Chiet Executive Officer said.

CEOAFRICA Business News correspondence, in accordance with the report from BusinessDay Newspaper, explained that the bank will “acquire lenders that are not that large, but profitable in those countries in the short term” Agbaje said in a conference call from Lagos.

Furthermore, Agbaje said that Guaranty Trust Bank is targeting the East African nations owing to their appreciable gross domestic products, growing investments and ease of doing business, CEOAFRICA reports .