Guaranty Trust Holding Company Plc (NGX: GTCO; LSE: GTCO), right this moment introduced that it has elevated its funding in its wholly owned Banking subsidiary, Guaranty Trust Bank Limited (“GTBank”) to ₦504 billion by way of a rights problem subscription for six,994,050,290 bizarre shares of fifty kobo every made by GTBank for a complete consideration of ₦365,850,403,572.67, thus rising GTBank’s paid-up share capital from ₦138,186,703,485.78 to ₦504,037,107,058.45.
This Capital Injection ensures GTBank’s compliance with the brand new minimal capital requirement for industrial banks with worldwide authorisation stipulated by the CBN.
The Capital Injection was funded by the two-phased fairness capital elevating programme not too long ago undertaken and concluded by GTCO Plc with a global absolutely marketed providing on the London Stock Exchange (LSE) that secured $105 million from high-quality, long-term institutional traders in change for two.29 billion new bizarre shares, making GTCO Plc the primary {financial} companies establishment in West Africa to twin listing on each the NGX and LSE. Launched in July 2024, GTCO’s fairness capital programme started with a public providing to Nigerians that raised ₦209.41 billion from 130,617 legitimate functions for 4.7 billion bizarre shares, absolutely allotted and evenly break up between retail and institutional traders.
Commenting on the recapitalisation of Guaranty Trust Bank Ltd, Segun Agbaje, Group Chief Executive Officer of GTCO Plc, stated: “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 further fairness capital will likely be deployed by GTBank primarily for department community enlargement and asset progress (loans, advances, and funding securities portfolio), fortification of its info expertise infrastructure and to leverage rising alternatives in Nigeria and the working environments the place it maintains banking presence.
Following the Capital Injection, the Company continues to carry 100% of all the issued and paid-up share capital of the Bank. None of the Directors of the Company has any curiosity, direct or oblique, within the Bank.
About GTCO Plc
GTCO Plc is certainly one of Africa’s main {financial} companies establishments with a longstanding monitor report of sturdy progress, service excellence, and shareholder returns. The Group operates throughout banking, funds, asset administration, and pension administration in eleven international locations, together with Nigeria, the UK, and key African markets.
