GTCO Injects N365.9bn into GTBank to Meet CBN Capital Requirement

Guaranty Trust Holding Company Plc has infused N365.9bn into its banking arm, Guaranty Trust Bank Limited, to comply with the new minimum capital requirement set by the Central Bank of Nigeria for commercial banks with international authorization.

In a disclosure to the Nigerian Exchange Limited and the London Stock Exchange on Friday, the holding company explained that the capital injection was carried out through the issuance and allotment of 6,994,050,290 ordinary shares of 50 kobo each by the bank to GTCO via a rights issue. This move raised GTBank’s share capital from N138.19bn to N504.04bn, ensuring full compliance with CBN’s directive.

The company noted that the transaction was funded under its two-phased equity capital raising programme approved at the 2024 Annual General Meeting and executed with the necessary regulatory approvals. Following the injection, GTCO confirmed it retains 100 percent ownership of GTBank, adding that none of its directors holds any direct or indirect interest in the bank.

According to the Group General Counsel and Company Secretary, Erhi Obebeduo, the fresh capital will support GTBank’s branch expansion, asset growth, and technology infrastructure upgrade, while positioning the bank to take advantage of emerging opportunities in Nigeria and other markets where it operates. The development came just a day after GTCO became the first West African financial institution to list its shares on the London Stock Exchange.