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The Digest:

Guaranty Trust Holding Company Plc (GTCO) has increased its investment in Guaranty Trust Bank Limited (GTBank), injecting a fresh capital of ₦365.9 billion. This strategic move, which marks a significant Capital Consolidation, is aimed at ensuring the bank's compliance with the new minimum capital requirement set by the Central Bank of Nigeria (CBN).

Key Points:
  • GTCO injected ₦365.9 billion into its banking subsidiary, GTBank.
  • The capital injection was funded through GTCO's recently completed equity capital-raising program.
  • This move raises GTBank's share capital to ₦504.03 billion.
  • The injection is intended to meet the CBN's new ₦500 billion minimum capital requirement for commercial banks with international licenses.
  • GTCO remains the sole shareholder of GTBank.
  • The additional capital will be used to expand the bank's network, grow its loan portfolio, and strengthen its IT systems.
  • All banks are required to meet the new capital base by March 31, 2026.
GTCO’s injection of ₦365.9 billion into GTBank is a direct response to the CBN’s new capital requirements. The move, funded by a recent equity raise, ensures the bank’s regulatory compliance and provides a Capital Consolidation for future growth.

Sources: TheCable, Nigerian Exchange (NGX)