Guaranty Trust Holding Company Plc (GTCO) has injected ₦365.9 billion into its banking subsidiary, Guaranty Trust Bank Limited (GTBank), to comply with the Central Bank of Nigeria’s (CBN) new minimum capital requirement for commercial banks with international authorization.
This strategic move has pushed GTBank’s share capital from ₦138.19 billion to ₦504.04 billion, surpassing the CBN’s mandated ₦500 billion threshold for internationally licensed banks.
This was disclosed in a statement signed by the Group’s General Counsel/Company Secretary, Erhi Obebeduo, and filed with the Nigerian Exchange Limited on Friday.
The statement said the capital injection was done through a rights issue, involving the issuance and allotment of 6,994,050,290 ordinary shares of 50 kobo each by GTBank to GTCO.
“Following the Capital Injection, the Company continues to hold 100% of the entire issued and paid-up share capital of the Bank,” it stated.
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It said the transaction was funded through GTCO’s two-phased equity capital raising program, approved by shareholders at the 2024 Annual General Meeting (AGM) and executed in line with regulatory approvals.
This program included: a public offering in Nigeria that raised ₦209.41 billion from retail and institutional investors; and an international offering on the London Stock Exchange (LSE) that secured $105 million from institutional investors, making GTCO the first West African financial institution to list on both the NGX and LSE.
“Through this Capital Injection, the share capital of GTBank has been increased from ₦138,186,703,485.78 to N504,037, 107,058.45 and ensures the Bank’s compliance with the new minimum capital requirement for commercial banks with international authorisation stipulated by the Central Bank of Nigeria,” GTCO stated.
It said the additional capital will be deployed for branch network expansion across Nigeria and other operating markets, asset growth, including loans, advances, and investment securities, fortification of its IT infrastructure to enhance digital banking capabilities and leveraging emerging opportunities in high-growth markets.
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“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 operating environments where it maintains banking presence.”
With this, GTBank joins other tier-1 lenders like Access Bank and Zenith Bank that have already met the CBN’s capital requirements. This strengthens the bank’s ability to compete for large-ticket loans and expand its digital banking footprint across Africa and the UK.
The CBN’s recapitalization directive, announced in March 2024, aims to build a more resilient banking sector amid economic challenges like naira devaluation and inflationary pressures.
As of July 2025, at least eight banks have fully met the capital requirements, while smaller lenders are exploring mergers or acquisitions to comply.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.
