Strategic Communication as a Driver of Institutional Differentiation in Nigeria’s Banking Sector: The GTB Experience

 Strategic Communication as a Driver of Institutional Differentiation in Nigeria’s Banking Sector: The GTB Experience

Introduction

In contemporary financial systems, particularly within emerging economies such as Nigeria, organizational performance extends beyond financial indicators to include communication effectiveness, stakeholder trust, and symbolic legitimacy. Communication scholarship increasingly recognizes strategic communication as a core driver of institutional reputation and differentiation (Cornelissen, 2020). 

This section examines Guaranty Trust Bank (GTB), operating under Guaranty Trust Holding Company (GTCO), as a case-based illustration of how communication theories are operationalized within Nigeria’s banking sector to achieve sustained credibility and competitive advantage among the comity of banks.

Corporate Identity, Symbolism, and Meaning Construction

Symbolic interactionism explains how meaning is constructed through repeated social interactions and shared symbols (Blumer, 1969). GTB’s corporate identity reflects this process through its consistent visual branding, service rituals, and behavioural norms across physical and digital touchpoints. The bank’s distinctive brand colour, standardized branch experience, and uniform service culture function as symbolic cues that shape stakeholder perception.

Corporate identity theory further suggests that organizations communicate “who they are” through coherence between visual identity, communication, and behaviour (Balmer & Greyser, 2006). In Nigeria’s banking environment—often characterized by public distrust—GTB’s symbolic consistency reinforces perceptions of professionalism, reliability, and institutional stability.

Digital Banking and Interactive Communication

GTB’s digital banking strategy aligns with the two-way symmetrical model of communication, which emphasizes dialogue, feedback, and mutual understanding between organizations and their publics (Grunig & Hunt, 1984). Digital platforms such as mobile applications and USSD services enable real-time interaction and continuous engagement, transforming customers from passive recipients into active participants. From a uses and gratifications perspective, individuals adopt media technologies to satisfy specific needs such as convenience, efficiency, and control (Katz et al., 1974).

 GTB’s digital channels meet these gratifications within Nigeria’s infrastructural context, explaining their widespread adoption and role in advancing financial inclusion.

Credibility, Trust, and Regulatory Communication

Source credibility theory posits that message acceptance depends on the communicator’s perceived expertise and trustworthiness (Hovland et al., 1953). In Nigeria’s highly regulated banking sector, GTB’s transparent reporting practices, compliance with Central Bank of Nigeria (CBN) regulations, and disciplined risk communication enhance its institutional credibility.

Consistent and transparent communication reduces uncertainty and reinforces confidence among regulators, investors, and customers, particularly during periods of macroeconomic instability. This credibility function strengthens GTB’s legitimacy and long-term stakeholder trust.

Behavioural Influence and Customer Adoption

The Theory of Planned Behaviour explains how attitudes, subjective norms, and perceived behavioural control influence intention and behaviour (Ajzen, 1991). GTB’s communication strategy positively shapes customer attitudes toward digital banking, normalizes electronic transactions as standard practice, and reduces perceived barriers through simplified platforms.

This integrated communication approach has facilitated behavioural change within Nigeria’s banking culture, contributing to increased digital adoption and reduced dependence on cash-based transactions.

Internal Communication and Organisational Alignment

Systems theory views organizations as interdependent units whose effectiveness depends on coordinated communication (Katz & Kahn, 1978). GTB’s internal communication structurestraining programs, leadership messaging, and feedback systems, ensure alignment between corporate values and employee behaviour.

Through internal branding, employees internalize organizational identity and become consistent transmitters of corporate meaning (Punjaisri & Wilson, 2011). This alignment enhances service quality and reinforces credibility at the external stakeholder level.

Stakeholder Engagement and Social Responsibility

Stakeholder theory emphasizes the need for organizations to engage multiple publics beyond shareholders (Freeman, 1984). GTCO’s corporate social responsibility initiatives reflect a strategic stakeholder communication approach aimed at addressing social issues such as inclusion, entrepreneurship, and public health.

Agenda-setting theory suggests that organizations can influence public discourse by prioritizing specific issues (McCombs & Shaw, 1972). By elevating social development concerns, GTCO strengthens relational capital and reinforces its reputation as a socially responsible institution.

Conclusion

The GTB/GTCO case demonstrates that strategic communication is central to institutional differentiation within Nigeria’s banking sector. By operationalizing core communication theories; symbolic interactionism, two-way symmetrical communication, source credibility, the Theory of Planned Behaviour, systems theory, and stakeholder engagement; GTB has sustained trust, influenced stakeholder behaviour, and strengthened organizational legitimacy.

This case contributes to communication studies by illustrating how theoretical constructs translate into organizational practice within an emerging economy context.

References (APA 7th Edition)

Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T

Balmer, J. M. T., & Greyser, S. A. (2006). Corporate marketing: Integrating corporate identity, corporate branding, corporate communications, corporate image and corporate reputation. European Journal of Marketing, 40(7/8), 730–741.

Blumer, H. (1969). Symbolic interactionism: Perspective and method. University of California Press.

Cornelissen, J. (2020). Corporate communication: A guide to theory and practice (6th ed.). Sage Publications.

Freeman, R. E. (1984). Strategic management: A stakeholder approach. Pitman.

Grunig, J. E., & Hunt, T. (1984). Managing public relations. Holt, Rinehart & Winston.

Hovland, C. I., Janis, I. L., & Kelley, H. H. (1953). Communication and persuasion. Yale University Press.

Katz, D., & Kahn, R. L. (1978). The social psychology of organizations (2nd ed.). Wiley.

Katz, E., Blumler, J. G., & Gurevitch, M. (1974). Utilization of mass communication by the individual. In J. G. Blumler & E. Katz (Eds.), The uses of mass communications (pp. 19–32). Sage.

McCombs, M. E., & Shaw, D. L. (1972). The agenda-setting function of mass media. Public Opinion Quarterly, 36(2), 176–187.

Punjaisri, K., & Wilson, A. (2011). Internal branding process: Key mechanisms, outcomes and moderating factors. European Journal of Marketing, 45(9/10), 1521–1537.

'Tope Bankole 

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