Guaranty Trust Holding Company Plc has increased its investment in Guaranty Trust Bank Limited to ₦504 billion through a rights issue to comply with new capital requirements set by the Central Bank of Nigeria.

Target Information

Guaranty Trust Holding Company Plc (GTCO) has announced an increase in its investment in its wholly owned subsidiary, Guaranty Trust Bank Limited (GTBank), raising the total investment to ₦504 billion. This capital boost comes through a rights issue subscription for nearly 7 billion ordinary shares, valued at approximately ₦365.85 billion. Following this transaction, GTBank’s paid-up share capital has surged from ₦138.19 billion to ₦504.04 billion.

The successful capital injection is significant for GTBank as it aligns with the new minimum capital requirements for commercial banks with international authorisation, as mandated by the Central Bank of Nigeria (CBN). This level of recapitalization not only complies with regulatory requirements but also positions the bank to enhance its competitive edge in the market.

Industry Overview

The banking sector in Nigeria is undergoing transformative changes, driven by regulatory reforms and advancements in technology. The Central Bank of Nigeria has mandated increases in capital requirements for banks to s