By Abiodun JIMOH
Guaranty Trust Holding Company Plc (GTCO) has increased the paid-up share capital of its flagship subsidiary, Guaranty Trust Bank Limited (GTBank), to ₦504 billion, securing compliance with the Central Bank of Nigeria’s (CBN) new minimum capital requirement for banks with international authorization.
The capital injection followed GTCO’s subscription to 6.99 billion ordinary shares of 50 kobo each, valued at ₦365.85 billion, issued by GTBank. This move raised GTBank’s paid-up share capital from ₦138.19 billion to ₦504.04 billion.
The fresh funds were sourced from GTCO’s recently concluded two-phased equity capital raising programme. The exercise included a public offering in Nigeria that mobilized ₦209.41 billion from over 130,000 valid applications, and an international fully marketed offering on the London Stock Exchange (LSE) which raised $105 million from long-term institutional investors. The dual listing made GTCO the first West African financial services institution to be quoted on both the NGX and LSE.
Group CEO of GTCO Plc, Segun Agbaje, described the recapitalisation as a pivotal milestone: “With significant new capital secured and the CBN’s recapitalisation directive fulfilled, we are now focused on deepening innovation, expanding across high-growth markets, and delivering superior performance.”
GTBank plans to deploy the additional equity towards branch network expansion, asset growth, enhanced IT infrastructure, and new market opportunities. GTCO continues to retain full ownership of GTBank, with no director holding direct or indirect interest in the Bank.
