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GTCO Gears Up For Major Capital Raise Of Up To N525bn

starliteadmin by starliteadmin
March 12, 2024
in Banking News, Business
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In response to various macroeconomic factors, Nigerian banks are strategically positioning to shore up their capital through a dilutive or non-dilutive approach.

According to Industry insiders and market intelligence reports, several banks are actively planning to bolster their capital reserves, with some institutions already taking concrete steps to attract potential investors.

There is very strong indication that the Bank that will soon be in the market to raise N450 billion to N525 billion through a public offer is Guaranty Trust Holding Company Plc (GTCO Plc).

According to very reliable sources, the proceeds from this capital raise will supplement the capital needs of its flagship banking subsidiary, Guaranty Trust Bank.

The capital will facilitate the enhancement of the Bank’s ability to book large ticket transactions, as the effect of devaluation has impacted single obligor limits for most banks and thus their ability to book and participate in large ticket transactions.
We expect GTCO to make this announcement anytime from now.

Guaranty Trust Holding Company Plc consists of other non-banking businesses, including payment, funds management, and pension funds management, in its ecosystem.

Guaranty Trust Bank continues to build value-adding long-term customer relationships based on trust, digital innovations and great customer experience. The Bank continues to strive for excellence in serving its customers and engaging with all stakeholders.

Tags: GTBGTCOGuaranty Trust BankGuaranty Trust Holding Company PlcStarlitenews
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