GTCO raises GTBank’s paid-up capital to N504bn

Guaranty Trust Holding Company Plc (GTCO) has increased its investment in Guaranty Trust Bank Limited (GTBank) to N504 billion.

GTCO disclosed this in a statement on Friday, August 29, 2025.

The increase followed its subscription to GTBank’s rights issue of 6,994,050,290 ordinary shares at 50 kobo each, valued at N365.85 billion.

With this injection, GTBank’s paid-up share capital rose from N138.19 billion to N504.04 billion.

GTCO stated: “Guaranty Trust Holding Company Plc has announced that it has increased its investment in its wholly owned Banking subsidiary, Guaranty Trust Bank Limited (GTBank) to N504 billion

“This is through a rights issue subscription for 6,994,050,290 ordinary shares of fifty kobo each made by GTBank for a total consideration of N365,850,403,572.67.

“This is ncreasing GTBank’s paid-up share capital from N138,186,703,485.78 to N504,037,107,058.45.”

The company said the capital injection ensured GTBank’s compliance with the new minimum capital requirement for commercial banks with international authorisation stipulated by the Central Bank of Nigeria (CBN).

The capital injection was funded by the two-phased equity capital raising programme recently undertaken and concluded by GTCO Plc.

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This is with an international fully marketed offering on the London Stock Exchange (LSE) that secured 105 million dollars from high-quality, long-term institutional investors in exchange for 2.29 billion new ordinary shares.

This is making GTCO Plc the first financial services institution in West Africa to dual list on both the NGX and LSE.

Launched in July 2024, GTCO’s equity capital programme began with a public offering to Nigerians that raised N209.41 billion from 130,617 valid applications for 4.7 billion ordinary shares.

This was fully allotted and evenly split between retail and institutional investors.

Commenting on the recapitalisation, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, 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 Star