By means of a rights issue subscription for 6,994,050,290 ordinary shares of fifty kobo each, made by Guaranty Trust Bank Limited (GTBank) for a total consideration of N365,850,403,572.67, Guaranty Trust Holding Company Plc (NGX: GTCO; LSE: GTCO) announced on Friday, 29th August, 2025, that it has increased its investment in its wholly owned Banking subsidiary, GTBank, to N504 billion.
This raises GTBank’s paid-up share capital from N138,186,703,485.78 to N504,037,107,058.45. The new minimum capital requirement for commercial banks with international authorisation set by the CBN is guaranteed to be met by GTBank, thanks to this capital injection. With a two-phased equity capital raising program that was recently completed, GTCO Plc was able to raise $105 million from reputable, long-term institutional investors in exchange for 2.29 billion new ordinary shares on the London Stock Exchange (LSE). This made GTCO Plc the first financial services company in West Africa to dual list on the NGX and the LSE.
When GTCO’s equity capital program was first introduced in July 2024, it raised N209.41 billion from 130,617 legitimate applications for 4.7 billion common shares, which were fully distributed and divided equally between institutional and retail investors.
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Group Chief Executive Officer of GTCO Plc, Segun Agbaje, had this to say about GTBank’s recapitalisation: “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.”
Continuing, GTBank will mainly use the additional equity capital to strengthen its information technology infrastructure, expand its branch network, and grow its assets (loans, advances, and investment securities portfolio). It will also use the funds to take advantage of new opportunities in Nigeria and the areas where it operates.
BrandSpur banking and finance news desk reports that the Company still owns all of the Bank’s issued and paid-up share capital after the capital injection. There are no direct or indirect interests in the Bank held by any of the company’s directors.
