GTCO Boosts GTBank’s Paid-Up Capital to ₦504 Billion, Meets CBN Recapitalization Target

Guaranty Trust Holding Company Plc (GTCO) today announced a significant capital injection into its flagship banking subsidiary, Guaranty Trust Bank Limited (GTBank), increasing the bank's paid-up share capital to over ₦504 billion. 

This strategic move, formalized through a rights issue subscription totaling ₦365.85 billion, ensures GTBank's full compliance with the new minimum capital requirement for commercial banks with international authorization stipulated by the Central Bank of Nigeria (CBN).

The capital injection was funded by GTCO's recently concluded two-phased equity capital raising programme, which showcased strong investor confidence both locally and internationally:

Domestic Offering: The program began with a public offering in Nigeria that successfully raised ₦209.41 billion from 130,617 applications.

International Offering: GTCO became the first financial services institution in West Africa to dual-list on the Nigerian Exchange (NGX) and the London Stock Exchange (LSE), securing $105 million from high-quality, long-term institutional investors.

Segun Agbaje, Group Chief Executive Officer of GTCO Plc, commented on the achievement: “The successful recapitalisation of our flagship banking subsidiary, Guaranty Trust Bank Limited, marks a pivotal step in strengthening the foundation of our Group."

He affirmed that with the significant new capital secured and the CBN’s directive fulfilled, the Group is now focused on accelerating growth:

 "We are focused on deepening innovation and service excellence, delivering improved performance, and expanding our footprint across high-growth markets, while upholding the industry-leading standards that define the GTCO brand.”

The additional equity capital will be strategically deployed by GTBank to fuel several growth initiatives, including:

Asset growth (loans, advances, and investment securities portfolio).

Fortification of its information technology infrastructure.

Following the injection, GTCO Plc maintains 100% ownership of the entire issued and paid-up share capital of GTBank.