Guaranty Trust Holding Company Plc (GTCO) has poured N365.85 billion into its subsidiary, Guaranty Trust Bank (GTBank), to meet the Central Bank of Nigeria’s (CBN) updated capital requirements for internationally licensed banks.
According to a regulatory filing signed by Company Secretary Erhi Obebeduo, the move was carried out via a rights issue, issuing almost 7 billion ordinary shares of GTBank to GTCO. This raised the bank’s share capital from N138.186 billion to N504.037 billion, comfortably surpassing the CBN’s minimum requirement of N500 billion.
“The capital boost ensures GTBank meets the CBN’s new standards for internationally licensed banks,” the statement added.
Preparing for the 2026 Compliance Deadline
This injection comes as Nigerian banks work to meet the March 2026 recapitalisation deadline, issued by the CBN in March 2024, against a backdrop of inflation and a weakened naira. With this step, GTBank joins Access Bank and Zenith Bank in meeting the new capital threshold, securing its international license and strengthening its market position.
Plans for the New Capital
GTCO said the additional funds will be used to:
• Expand GTBank’s branch network
• Grow its loan book and investment portfolio
• Upgrade IT systems and infrastructure
• Pursue new opportunities in Nigeria and other markets
The recapitalisation plan was approved at GTCO’s 2024 Annual General Meeting and implemented in two phases with regulatory clearance. GTCO will retain full ownership of GTBank.
Key Points
• The CBN’s recapitalisation drive is aimed at building a more resilient banking sector.
• By July, CBN Governor Olayemi Cardoso confirmed at least eight banks had complied, while others are considering mergers or acquisitions to meet the new rules.
