GTCO Boosts Capital Base to N500bn with Equity Injection into GTBank.

Guaranty Trust Holding Company Plc (GTCO) has increased its capital base to over N500 billion through a fresh equity injection into its subsidiary, Guaranty Trust Bank Limited (GTBank). This move aligns with the Central Bank of Nigeria's new capital requirements for international commercial banks, which mandate a minimum capital base of N500 billion.

The injection of equity into GTBank was aimed at enhancing the bank's resilience and positioning it to better support economic growth. GTCO clarified that the capital was sourced through an equity raising program approved at its 2024 Annual General Meeting and implemented after regulatory clearance.

The fresh capital injection will be utilized to expand GTBank's branch network and support loan and investment growth.