Guaranty Trust Holding Company (GTCO) is preparing to raise between N450 billion to N525 billion through a public offer, according to reliable sources close to the matter.
While an official announcement from GTCO is anticipated imminently, the move underscores the strategic response of Nigerian banks to bolster their capital reserves amidst shifting macroeconomic conditions.
In response to various economic factors, banks across Nigeria are proactively positioning themselves to fortify their capital through both dilutive and non-dilutive approaches.
Market intelligence reports and insights from industry insiders suggest that several banks are actively devising strategies to shore up their capital reserves, with some already initiating measures to attract potential investors.
The anticipated proceeds from this capital raise are expected to supplement the capital requirements of GTCO’s flagship banking subsidiary, Guaranty Trust Bank (GTBank).
This influx of capital will serve to enhance the bank’s capacity to undertake large-scale transactions, particularly in light of the impact of currency devaluation on single obligor limits for most banks.
GTCO, comprising various non-banking businesses such as payment services, funds management, and pension fund management, remains committed to nurturing long-term relationships with customers built on trust, digital innovation, and exceptional customer experience.
The company’s pursuit of excellence in customer service and stakeholder engagement continues to underpin its operations.
The imminent public offer by GTCO signals a proactive step towards fortifying its financial position and further solidifying its presence in the Nigerian banking sector.
Investors and stakeholders alike are closely watching as GTCO prepares to embark on this significant capital-raising endeavor.
