GTBank Bolsters Capital Base with N365.9bn Injection to Meet CBN Requirement
Guaranty Trust Holding Company Plc injected N365.9 billion into its banking subsidiary, Guaranty Trust Bank Limited, to meet the new minimum capital requirement of N500 billion set by the Central Bank of Nigeria. The capital injection was executed through the issuance of ordinary shares, increasing GTBank's share capital.
Following the transaction, GTCO confirmed it still holds 100% of GTBank's issued share capital. This move ensures the bank's compliance with regulatory requirements and enhances its financial stability.
The injection was funded through an equity capital raising program approved at the shareholder's Annual General Meeting in 2024.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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