• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

GTCO moves to raise N525bn though public offer

GTCO

The Matters Press by The Matters Press
March 12, 2024
Reading Time: 2 mins read
0
GTCO declares N221.5bn profit in 2021

Lagos, March 12, 2024: Guaranty Trust Holding Company (GTCO) Plc is preparing to raise about N525 billion capital through public offer to strengthen the capital base of its subsidiary, Guaranty Trust Bank (GTB).

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

The decision of the bank is in response to the directive of the Central Bank of Nigeria (CBN) for banks to re-capitalise, in light of the various macro-economic factors impacting the banking sector.

According to a source, the development is in line with trends in the industry that Nigerian banks must be strategically positioned to enhance their capital reserves, either through dilutive or non-dilutive means.

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

According to credible sources, the proceeds from the newly sourced capital will supplement the capital needs of its flagship banking subsidiary, GTB.

“The capital will facilitate the enhancement of the bank’s ability to book large ticket transactions, as the effect of devaluation has impacted single 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,” said the source.

GTCO Plc recently unveiled its unaudited consolidated and separate financial statements for the period ended Sept. 30, 2023.

The group, in the results released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), reported profit before tax (PBT) of N433.2 billion, representing an increase of 155.2 per cent over N169.7 billion recorded in the corresponding period ended September 2022.

The group’s net loan book grew by 17.7per cent from N1.89 trillion recorded as at December 2022 to N2.22 trillion in September 2023, while deposit liabilities increased by 37.9 per cent from N4.61 trillion in December 2022 to N6.36 trillion in September 2023.

GTCO Plc consists of other non-banking businesses, including payment, funds, management, and pension funds management businesses in its ecosystem.

Tags: GTCO
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Tinubu emerges new ECOWAS Chairman

Single currency not realistic in ECOWAS by - WAMZ

Pension assets records N1.77trn increase in first half

Pension fund hits N19.53trn, gains N1.17trn in January

Recommended Stories

Chevron, NNPC secure $1.4bn for drilling project

NUPRC out with 2022 mini bid round for new drilling, exploration

December 21, 2022
Youths give old politicians 2023 deadline to retire

Youths give old politicians 2023 deadline to retire

December 2, 2018
Global trade’ll grow to $30tn by 2030

Nigeria’s trade hits N18.804bn in third quarter – NBS

December 5, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us