• Saturday, April 13, 2024
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GTCO gears up for N525bn public offer

GTCO’s HabariPay profit rose to N2.17bn in 2023

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

Our source noted GTCO is to make this announcement anytime from now.

In response to various macro economic factors, Nigerian banks are strategically positioning to shore up their capital through a dilutive or non dilutive approach.

According to industry insiders and market intelligence reports, several banks are actively planning to bolster their capital reserves, with some institutions already taking concrete steps to attract potential investors.

According to very reliable sources, the proceeds from this capital raise will supplement the capital needs of its flagship banking subsidiary, Guaranty Trust Bank.

The capital will facilitate the enhancement of the Bank’s ability to book large ticket transactions, as the effect of devaluation has impacted single obligor limits for most banks and thus their ability to book and participate in large ticket transactions.

Guaranty Trust Holding Company Plc consists of other non banking businesses including, Payment, Funds Management and Pension Funds Management businesses in its ecosystem.

Guaranty Trust Bank continues to build value adding long-term relationships with customers based on trust, digital innovations and great customer experience. The bank continues to strive for excellence in serving its customers and engaging with all stakeholders.