Guaranty Trust Holding Company Plc (GTCO Plc) will see the growth in 2025 boosted by its recent capital raise of N209 billion, according to Segun Agbaje, Group Chief Executive Officer of GTCO Plc.
“A lot of people don’t know that we received that money from the capital raise which we embarked on last year in 2025, as we waited for CBN verification of capital raised. As such the money will go towards increasing our growth in 2025,” Agbaje said during a conference call to discuss GTCO Plc’s Full Year 2024 financials.
The GTCO Group reported profit before tax of ₦1.266trilion in 2024, representing an increase of 107.8% over ₦609.3billion recorded in the corresponding year ended December 2023.
The Offer, which garnered substantial interest from domestic retail investors, raised a total of ₦209.41 billion from 130,617 valid applications for 4,705,800,290 Ordinary Shares, fully allotted.
The milestone concluded the first phase of GTCO’s phased equity capital raise programme, which is structured on a balanced allocation strategy based on an equal split between institutional and retail investors.
Proceeds (N208 billion) from the combined equity raise will be strategically deployed to recapitalize the Group’s flagship subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), enhancing its ability to meet regulatory requirements and further solidify its position as a leading financial institution.
Additionally, the funds will support Group-wide growth initiatives, including footprint expansion, product enhancement, and innovation across both Banking and Non-Banking subsidiaries.
GTCO remains committed to delivering sustainable value to its stakeholders and driving innovation across the financial services landscape in Africa.
The GTCO Plc Group is one of the largest financial services institutions in Africa. Headquartered in Lagos, Nigeria, Guaranty Trust Holding Company Plc maintains direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom.
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