Guaranty Trust Holding Company (GTCO), listed on the Nigerian Exchange Group and the London Stock Exchange, completed a 10 billion naira (about $7.2 million) capital raise on January 30. The transaction, done through a private placement, is aimed at strengthening the group’s capital at holding company level, in line with prudential rules governing financial holding companies in Nigeria.
According to a statement from Nigerian Exchange Limited (NGX), the operation involved the issuance of 125 million new ordinary shares, each with a nominal value of 50 kobo, priced at 80 naira per share. The placement was approved in December 2025 by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The new shares were immediately admitted to trading, increasing GTCO’s total outstanding shares from 36,425,229,514 to 36,550,229,514.
GTCO said the fundraising does not signal any capital weakness at its core banking subsidiary, Guaranty Trust Bank Limited. The bank already exceeds the minimum capital threshold of 500 billion naira set by the Central Bank of Nigeria for banks holding an international license.
The operation follows a strong financial performance by the group. As of March 31, 2025, GTCO reported profit before tax of 300.4 billion naira, supported by a 41.1% rise in interest income and a 41.2% increase in fees and commission income. Over the same period, loans expanded by 15.6%, while deposits grew by 7.7%, reflecting sustained growth across its operations.
SG
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Nigeria, Nestlé sign MoU for dairy training center in Abuja Center to train farmers in breeding, ...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
Cameroon LNG export revenue falls to CFA350.1 billion in 2025 Stable export volumes suggest decline driven by lower global prices LNG remains...
Cameroon invests CFA17 billion in palm oil production projects New plants, upgrades to boost output, farmer incomes, jobs Government-backed plan...
First Ukrainian agricultural hub in Africa launched in Ghana Project combines food aid with local processing and distribution Move signals push to...
Heineken to sell Bralima stake to Mauritius-based ELNA Holdings ELNA takes over operations; Heineken retains brands via licensing Deal aligns with...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...