Guaranty Trust Holding Company Plc has announced a ₦365.85 billion capital injection into its wholly owned subsidiary, Guaranty Trust Bank Limited (GTBank), through a rights issue of 6,994,050,290 ordinary shares at fifty kobo each. This move preserves GTCO’s 100% ownership of GTBank’s issued and paid-up share capital, with no directors holding direct or indirect interests in the bank.
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The capital injection was funded through a two-phased equity capital raising program approved by GTCO shareholders at the 2024 Annual General Meeting and executed in line with regulatory approvals. This has increased GTBank’s share capital from ₦138.19 billion to ₦504.04 billion, ensuring compliance with the Central Bank of Nigeria’s new minimum capital requirements for commercial banks with international authorization.
According to GTCO, the additional capital will be deployed by GTBank to expand its branch network, grow its loans and investment securities portfolio, strengthen its information technology infrastructure, and leverage emerging opportunities in Nigeria and other markets where it maintains a banking presence.
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