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Guarantee Trust Holding Company Plc (GTCO) has injected N365.9bn into its banking subsidiary, Guarantee Trust Bank Limited (GTBank), to comply with the Central Bank of Nigeria’s (CBN) new minimum capital requirement for commercial banks with international authorisation.

In a statement filed with both the Nigerian Exchange Limited and the London Stock Exchange on Friday, GTCO said the injection was carried out through the issuance and allotment of 6,994,050,290 ordinary shares of 50 kobo each by GTBank to its parent company via a rights issue.

With the transaction, GTBank’s share capital rose from N138.19bn to N504.04bn, bringing it in line with the CBN’s recapitalisation directive.

The capital injection was funded through GTCO’s two-phased equity capital raising programme, which shareholders approved at the company’s 2024 Annual General Meeting and executed with necessary regulatory clearances.

GTCO confirmed it still holds 100 per cent ownership of GTBank following the transaction, adding that none of its directors had any direct or indirect interest in the deal.

According to Erhi Obebeduo, Group General Counsel and Company Secretary, the fresh funds will be deployed strategically to drive growth.

“The additional equity capital will be deployed by GTBank primarily for branch network expansion, asset growth—including loans, advances and investment securities—strengthening of IT infrastructure, and leveraging emerging opportunities in Nigeria and other markets where the bank operates,” the statement said.

The move comes a day after GTCO became the first West African financial institution to have its shares listed on the London Stock Exchange, a milestone that underscores the group’s regional leadership and global ambitions.