Guaranty Trust Holding Company Plc (GTCO) has announced a significant capital injection of ₦365.85 billion into its banking subsidiary, Guaranty Trust Bank Limited (GTBank). The move raises GTBank’s share capital from ₦138.19 billion to ₦504.04 billion, surpassing the Central Bank of Nigeria’s (CBN) ₦500 billion minimum requirement for banks with international licences. The transaction was executed through a rights issue of nearly 7 billion shares, with GTCO retaining 100% ownership of GTBank after the allotment. In a regulatory filing, Company Secretary Erhi Obebeduo confirmed the development, noting that it reflects GTCO’s commitment to resilience, growth, and long-term value creation.
The CBN’s recapitalisation directive, issued in March 2024, gave banks until March 2026 to meet higher capital thresholds aimed at strengthening balance sheets in the face of inflation, naira volatility, and rising credit demand. By acting early, GTBank joins Access Bank and Zenith Bank in crossing the line, securing its international licence and reinforcing its tier-1 status. GTCO also disclosed that the fresh equity will be channelled into expanding GTBank’s branch network, growing its loan and investment portfolio, and upgrading digital and IT infrastructure. The funds will support expansion across Nigeria and international markets, enabling the bank to capture new growth opportunities.
The recapitalisation programme, approved at GTCO’s 2024 Annual General Meeting and executed in two phases with full regulatory clearance, further strengthens the group’s competitive position.
Market watchers note that GTBank’s decisive early move could boost investor confidence, support its share performance, and underline its reputation as one of Nigeria’s most resilient and forward-looking financial institutions.
