GTCO raises ₦209bn in successful first phase of Equity Capital Programme

Guaranty Trust Holding Company Plc (GTCO Plc) has successfully concluded the first phase of its equity capital raise programme, securing ₦209.41 billion.

This achievement follows the completion of the capital verification process by the Central Bank of Nigeria (CBN) and the approval of the Basis of Allotment by the Securities and Exchange Commission (SEC).

The Offer, which generated strong interest from domestic retail investors, saw a total of 130,617 valid applications for 4,705,800,290 Ordinary Shares.

These shares were fully allotted, marking the successful completion of the first tranche of the Group’s equity capital raise programme.

This initial phase is part of GTCO’s strategic, phased capital raise, which employs a balanced allocation strategy split evenly between institutional and retail investors.

The approach underscores the Group’s commitment to building a diversified and resilient investor base, which is vital for its long-term growth.

Segun Agbaje, the Group Chief Executive Officer of GTCO Plc, expressed his appreciation: “We are deeply grateful to our new and existing shareholders and to the regulatory authorities for their continued support throughout this process.

“The strong participation and seamless capital verification and allotment processes reinforce investor confidence in our business fundamentals and our execution capabilities. This marks a pivotal moment as we move forward with our strategic goals aimed at driving transformational growth across both our banking and non-banking businesses.”

GTCO continues to outpace its peers in key profitability and financial performance metrics. Building on this success, the Group plans to kick off the second phase of its capital raise programme in 2025, which will focus on attracting significant foreign institutional investments.

This next step is part of the company’s broader plan to position itself as a “Truly International” financial services brand.

The proceeds from the capital raise will be used to recapitalize Guaranty Trust Bank Limited (GTBank Nigeria), the Group’s flagship subsidiary, strengthening its ability to meet regulatory requirements.

The funds will also support growth initiatives across the Group, including expansion, product development, and innovation in both its banking and non-banking sectors.