GTCO Pumps ₦504bn Into GTBank to Meet CBN Capital Rule

Guaranty Trust Holding Company Plc (GTCO) has injected fresh capital of ₦504 billion into its subsidiary, Guaranty Trust Bank Limited (GTBank), ensuring compliance with the Central Bank of Nigeria’s new minimum capital requirements for internationally licensed banks.

The injection came through a rights issue involving 6,994,050,290 ordinary shares of 50 kobo each, valued at ₦365.85 billion, thereby raising GTBank’s paid-up share capital from ₦138.19 billion to ₦504.04 billion.

Funding for the recapitalisation was secured from GTCO’s two-phase equity-raising program. This included a July 2024 public offering that mobilised ₦209.41 billion from Nigerian investors across 130,617 applications, and an international share sale on the London Stock Exchange, which attracted $105 million from long-term institutional investors. GTCO became the first West African financial services firm to achieve a dual listing on both the NGX and LSE.

Segun Agbaje, GTCO’s Group CEO, said: “The successful recapitalisation of our flagship banking subsidiary, Guaranty Trust Bank Limited, marks a pivotal step in strengthening the foundation of our Group. With significant new capital secured and the CBN’s recapitalisation directive for Guaranty Trust Bank now fulfilled, 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 capital will support GTBank’s branch expansion, asset growth, investment in IT systems, and exploration of new business opportunities within Nigeria and other markets where the bank operates.

Following the transaction, GTCO maintains full ownership of GTBank. The company also confirmed that none of its directors hold personal stakes in the bank.