Our Correspondent
Guaranty Trust Holding Company Plc (GTCO) has injected ₦365.9bn into its banking subsidiary, Guaranty Trust Bank Limited (GTBank), to comply with the new minimum capital requirements introduced by the Central Bank of Nigeria (CBN) for commercial banks with international authorisation.
In a corporate filing to both the Nigerian Exchange Limited (NGX) and the London Stock Exchange (LSE) on Friday, GTCO disclosed that the capital injection was executed through a rights issue involving the allotment of 6.99 billion ordinary shares of 50 kobo each by GTBank to the holding company.
The move raised GTBank’s share capital from ₦138.19bn to ₦504.04bn, firmly positioning the bank in line with the CBN’s revised capital adequacy framework, which was introduced earlier this year as part of efforts to strengthen the Nigerian banking system.
Shareholder-Backed Fundraising
According to the statement, the transaction was funded through GTCO’s two-phased equity capital raising programme, approved at its 2024 Annual General Meeting and subsequently cleared by regulators. GTCO confirmed that it continues to hold 100 per cent of GTBank’s issued and paid-up share capital, with none of its directors having any direct or indirect interest in the transaction.
The company noted that the fresh capital would be channelled into branch network expansion, asset growth, IT infrastructure fortification, and tapping new business opportunities across its operating markets.
“The additional equity capital will be deployed by GTBank primarily for branch network expansion and asset growth (loans/advances and investment securities portfolio), fortification of its information technology infrastructure and to leverage emerging opportunities in Nigeria and the operating environments where it maintains banking presence,” the statement signed by Group General Counsel and Company Secretary, Erhi Obebeduo, read.
Regulatory Context
The CBN had in March 2025 unveiled new minimum capital thresholds for Nigerian banks, giving lenders up to 24 months to shore up their balance sheets. Commercial banks with international authorisation are now required to hold a minimum of ₦500bn in capital, while those with national and regional authorisations must maintain ₦200bn and ₦50bn respectively.
This policy forms part of the apex bank’s bid to strengthen financial sector resilience, enhance banks’ capacity to support the economy, and prepare them for potential shocks amid volatile global markets.
Analysts note that GTCO’s swift compliance underscores its strong capital base and proactive balance sheet management, at a time when several Nigerian banks are still weighing capital raising options—including rights issues, private placements, and public offers—to meet the CBN deadline.
Landmark London Listing
The injection comes a day after GTCO made history by becoming the first West African financial institution to have its shares listed on the London Stock Exchange, marking a milestone in its international growth strategy and raising its visibility with global investors.
Market watchers say the dual listing not only broadens GTCO’s capital-raising capacity but also strengthens investor confidence, especially as Nigerian banks move into a new era of recapitalisation.
