GTCO announces completion of N10 billion capital raise

Guaranty Trust Holding Company Plc (GTCO), parent company of GTBank, has raised N10 billion through a private placement of its shares. This is according to an allotment announcement released on Wednesday.

According to details provided by Quest Advisory Services Limited, the issuing house to the transaction, the placement was conducted in line with a placing memorandum issued by GTCO dated December 24, 2025. The private offer attracted a single investor who took up the entire offer.

Details showed that GTCO issued 125 million ordinary shares at N80 per share, with the transaction fully subscribed (100%). This means that all shares applied for were fully allotted.

In line with the terms contained in the placement, the newly issued shares will be credited to the investor’s Central Securities Clearing System (CSCS) account by DataMax Registrars Limited, the company’s registrar to the offer.

On December 31, 2025, GTCO announced that it had secured regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to raise N10 billion through a private placement of its ordinary shares.

For companies, private placements are used to raise capital within a short time from institutional or targeted investors. It’s a measure used by companies to avoid the longer processes associated with public offers. For GTCO, the capital raise is expected to strengthen its balance sheet and support other parts of its operations.

While the group did not disclose the identity of the investor, experts noted that the funds could be deployed towards capital expansion across its non-banking subsidiaries or enhance its digital and regional growth trajectory.

Also Read: GTCO’s HabariPay doubles profit to N4.02 billion in H1 2025.

GTCO clarifies the capital raise

In the December announcement, the group clarified that the capital raise is not fueled by a financial shortfall in its banking subsidiary, GTBank.

Recall that GTBank had already met the CBN’s minimum capital requirement for commercial banks with international authorisation when it increased its capital base to N504 billion in August 2025. 

The company noted that the private placement is being undertaken pursuant to a shareholders’ resolution passed at the Company’s Annual General Meeting held on May 9, 2024. Then, shareholders authorised the Board to establish a capital-raising programme of up to $750 million through various financial instruments.

“This private placement in the sum of N10 billion is therefore only being raised pursuant to Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies (FHCs) in Nigeria regarding the computation of the capital of FHCs,” it said in December.

For the first half ending June 30, 2025, GTCO reported a pre-tax profit (PBT) of N601 billion, a decline from the N1 trillion recorded a year ago. Also, profit after tax (PAT) stood at N449.01 billion, compared to N905.57 billion in H1’24.

A top contributor to the group’s earnings is the interest income. The company saw its interest income grow by 71% YoY to N812.36 billion. Also, it contributed 76% to gross earnings, compared to 44% in H1 2024.

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