Lagos, Nigeria — Guaranty Trust Holding Company Plc (we go call am GTCO for gist) don power their banking side, Guaranty Trust Bank Limited (GTBank), with fresh equity injection of N365.85 billion. Na big money wey dem raise through rights issue on Friday wey just pass.
This money na part of wetin dey inside GTCO two-phased equity capital program wey shareholders don approve during their 2024 Annual General Meeting. Dem just follow all the rules wey regulators don set. So, no wahala!
As e be, GTBank don issue 6,994,050,290 ordinary shares of fifty kobo for those wey sabi. Na wetin dey grow their share capital from N138.19 billion to N504.04 billion! E mean say dem don meet Central Bank of Nigeria (CBN) new minimum capital requirement for banks wey dey do international work. (Dem no fit carry small money follow international waka o!)
GTCO talk say this fresh cash go help dem branch network expand, plus make dem fit grow their loan and investment portfolio, while dem dey upgrade their technology wahala. Dem also get plans to use this strong balance sheet to enter new markets wey dey shine for Nigeria and wherever dem dey operate!
“We dey plan to take this new capital grow our presence well, well,” na wetin dem yarn for statement wey dey go round. (Abeg, make dem no forget their padi wey go the next level!)
Plus, e fit seem like say dey plan no go end here, as GTCO don confirm say dem still hold 100 percent of GTBank share capital. No director get anything to gain direct or indirect from the bank. E good, abi?
As the gist dey go, this transaction go help GTBank fortify hin IT infrastructure for real, and pump oku into growth, growth! (Na small money wey we dey see o, but e big for Nigeria standard.)
PUNCH Online don still drop the gist say GTCO don make history as first West African bank wey get hin shares listed for London Stock Exchange. Dem dey shine!
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