The rising profile of Guaranty Trust Bank Plc in the financial sector has received further boost having closed 2011 as the equity with the highest market capitalisation in the nation’s stock market. Market capitalisation is the value of company on the Exchange and it is a product of its price and total paid-up shares. GTBank closed the year with a market capitalisation of NGN420bn to lead other banks. With this performance, GTBank moved from its third position in 2010 to the first position in 2011. Zenith Bank Plc had led the banks in terms of market capitalisation in 2010, followed by First Bank of Nigeria while GTBank occupied the third position. However, sustained demand for GTBank’s shares engendered by growing investors’ confidence lifted the equity to the top of the banking sub-sector market capitalisation chart with NGN420bn. Zenith Bank Plc close in 2011 as the second most capitalised with NGN382.4bn, while First Bank ended the year with a value of NGN290bn. Stanbic IBTC Bank Plc closed the year with NGN155.6bn. Access Bank Plc and United Bank for Africa Plc, First City Monument Bank Plc, Skye Bank Plc and Fidelity Bank Plc ended the year with market capitalisation of NGN85.9bn; NGN83.7bn; NGN68bn; NGN50.7bn and NGN47.3bn respectively. Some market operators, who spoke to THISDAY, said that they were not surprised at the development, saying GTBank had remained consistent in its financial performance over the years. For instance, a stockbroker, Mr. Ayo Oguntayo, said: “GTBank has been a very reliable stock over the years, not only declaring impressive results, but also rewarding investors with significant dividend and bonus issues. I am not therefore surprised that the equity led the banking sub-sector in 2011 in terms of market capitalisation.” GTBank was listed on the Nigerian Stock Exchange in 1996 and has since then be consistent with dividend and bonus issues. Apart from paying cash dividends, the bank had issued bonus issues eleven times between 1997 and 2010. While the results for the year-ended December 31, 2011 are being awaited, GTBank had already paid an interim dividend of NGN7.2bn for the half year ended June 30, 2011. The Managing Director, GTBank, Mr. Segun Agbaje, speaking on the interim dividend assured: "Shareholders will continue to receive positive returns on their investments as the bank remains committed to improving the quality of its service offerings, growing market share and adding value to all stakeholders in the years to come." The bank had reported about 51 per cent growth in half -year profit after tax from NGN18.2bn in June 2010 to NGN27.5bn in 2011. Agbaje attributed the bank's successful outing during the half-year period to the dedication of the bank's employees, a clearly defined operating strategy and adherence to the bank's founding principles of service delivery, innovation, professionalism and integrity.