GTCO to Launch Second Phase of Capital Raise in 2025 After Securing ₦209 Billion in First Phase

Guaranty Trust Holding Company Plc (GTCO) has announced plans to commence the second phase of its recapitalisation programme in 2025. This follows the successful completion of the first phase, which raised ₦209.41 billion through an equity capital offering.

The Central Bank of Nigeria (CBN) verified the capital raise, and the Securities and Exchange Commission (SEC) approved the allotment of 4,705,800,290 ordinary shares to 130,617 valid applicants, reflecting strong domestic retail investor interest.

Segun Agbaje, GTCO's Group CEO, highlighted the strategic significance of the initiative. “This milestone concludes the first phase of GTCO’s phased equity capital raise programme, which is structured on a balanced allocation strategy based on an equal split between institutional and retail investors. This balanced approach aligns with GTCO Plc’s commitment to fostering a well-diversified and robust investor base.” he said.

The recapitalisation initiative aims to support GTCO's strategic roadmap, positioning the Group for transformational growth and unlocking greater value across its banking and non-banking businesses. Agbaje affirmed that GTCO remains a leader in profitability and financial performance metrics.

Building on the success of the initial phase, GTCO is poised to embark on the second phase of its recapitalisation efforts next year, further solidifying its commitment to growth and innovation.

“This is strategically positioned to attract significant foreign institutional investments, reinforcing its reputation as a “truly international” financial services brand,” he said.

According to him, proceeds from the combined equity raise will be strategically deployed to recapitalise the group’s flagship subsidiary, Guaranty Trust Bank Ltd. (GTBank Nigeria).

Agbaje stated that this would help to enhance the bank’s ability to meet regulatory requirements and further solidify its position as a leading financial institution.

The group’s CEO also said the funds would support group-wide growth initiatives, including footprint expansion, product enhancement, and innovation across banking and non-banking subsidiaries.

Agbaje assured that GTCO remained committed to delivering sustainable value to its stakeholders and driving innovation across the financial services landscape in Africa.