Guaranty Trust Holding Company Plc (GTCO) has announced a fresh capital injection of ₦365.85 billion into its flagship subsidiary, Guaranty Trust Bank Limited (GTBank), to strengthen the bank’s capital position and ensure compliance with new regulatory requirements.
The capital was raised through the issue and allotment of 6,994,050,290 ordinary shares of 50 kobo each, allotted to the holding company by way of a rights issue. With this injection, GTCO continues to retain full ownership of GTBank.
According to a statement signed by Erhi Obebeduo, Group General Counsel and Company Secretary of GTCO, the move was part of the two-phased equity capital raising programme approved by shareholders at the 2024 Annual General Meeting.
The development has boosted GTBank’s share capital from ₦138.19 billion to ₦504.04 billion, aligning the bank with the Central Bank of Nigeria’s (CBN) new minimum capital requirement for commercial banks with international authorization.
GTCO stated that the additional funds will be deployed by GTBank to expand branch networks, grow assets through loans and investments, strengthen its information technology infrastructure, and explore emerging opportunities in Nigeria and other markets where it operates.
“The capital injection reinforces our readiness to meet regulatory demands while strategically positioning GTBank for sustained growth,” the statement read.
GTCO stressed that none of its directors holds any interest, direct or indirect, in GTBank despite the injection.
