NGX Places GTBank on Full Suspension in Preparation of Listing of Guaranty Trust HoldCo Plc

UK Fines GTB Branch Over Money Laundering Control Lapses
Photographer: Issouf Sanogo/AFP/Getty Images

The trading in the shares of Guaranty Trust Bank Plc (GTBank) was suspended today, Friday, 18th June 2021.

The suspension is necessary to prevent trading in the shares of the Bank in preparation for the eventual delisting of Guaranty Trust Bank Plc from the Daily Official List of the Nigerian Exchange Limited (NGX) and listing of the Holding Company, Guaranty Trust Holding Company Plc on NGX.

Guaranty Trust Bank sort codes GTBank Plans Kenyan Acquisition Brandspurng
Photographer: Issouf Sanogo/AFP/Getty Images

In December 2020, the shareholders of Guarantee Trust Bank (GTBank) Plc approved the holding company structure for the bank, as they expressed excitement over the benefits they would derive from the new structure.

GTBank has over the years proven to be a force and leading initiator of revolutionary advancement and technology-based development in the nation’s banking industry. Under the new structure, existing shareholders of GTBank would be migrated to Guaranty Trust Holdings via a share-for-share exchange between the shareholders of GTBank and GTHoldings.

The overall strategy was to create an operating model that would profitably grow the bank’s presence in the market for commercial banking and non-banking financial services in order to achieve the aspiration to be the dominant financial services group.