Latest news with #GTBank
Yahoo
07-07-2025
- Business
- Yahoo
Nigerian financial group Guaranty Trust targets London listing
Guaranty Trust Holding Co (GTCO), a Lagos-based banking group, announced plans for a listing on the London Stock Exchange's main market. The move is aimed at enhanced global visibility and compliance with the Central Bank of Nigeria's (CBN) new capital requirements. The CBN mandates a minimum capital of N500bn ($327.2m) for banks like GTBank Nigeria, a subsidiary, by 31 March 2026. The net proceeds from the London listing will primarily support GTBank Nigeria's recapitalisation and align with Guaranty Trust's growth strategy. Specifically, the funds will help the company in expanding its loan portfolio, upgrading IT systems, opening new branches, and pursuing 'selective bolt-on' acquisitions. Admission to the LSE main market is expected on 9 July, with Citigroup as the sole global coordinator and bookrunner. The company also plans to cancel its existing global depositary receipts listing on the LSE by 31 July. GTCO has completed a primary equity offering on the London Stock Exchange, securing $105m by issuing approximately 2.29 billion new ordinary shares, as per a company statement on 3 July. The shares were priced at N70.00 Naira each. Post-offering, GTCO's total issued share capital will reach 36.43 billion shares, with about 99.9% held by public investors. This follows GTCO's fundraise of N209bn in July 2024. GTCO Group CEO Segun Agbaje said: "This Offering and transition to a full listing on the Official List of the FCA and to trading of the Company's shares on the London Stock Exchange's main market for listed securities represents a pivotal moment in GTCO's growth story, reinforcing our position as a forward-thinking African Financial Services Institution. This move builds on our tradition of "many firsts" and innovation, as we continue to create exceptional value for our shareholders, customers, and broader stakeholders. 'By enhancing our global visibility and access to capital, we are not just advancing our own ambitions but also unlocking transformative opportunities across the markets and customer segments we serve." The shares will start trading on the LSE under the ticker 'GTHC', later transitioning to 'GTCO'. Shares will also trade in Naira on the Nigerian Exchange Limited under 'GTCO'. Until the GDR listing cancellation takes effect on 31 July 2025, GTCO's GDRs will continue trading freely under the ticker 'GTCO'. GDR holders can exchange for depository interests on the LSE or shares on the NGX, with transferability between exchanges subject to criteria. "Nigerian financial group Guaranty Trust targets London listing " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
04-07-2025
- Business
- Zawya
Nigeria: GTCO to list on London stock exchange, seeks $100mln for recapitalisation
Guaranty Trust Holding Company Plc (GTCO) is set to list its shares on the London Stock Exchange, having revealed plans to raise approximately $100 million through a fully marketed equity offering and transition from its current Global Depositary Receipts (GDRs) structure. According to a disclosure sent to the Nigerian Exchange Limited (NGX) on Thursday, the offering commenced on July 2 and is expected to close on July 3, 2025. The admission of GTCO's ordinary shares to the London Stock Exchange is scheduled for 8:00 a.m. on July 9, 2025. GTCO noted that, in line with this move, it has applied to cancel the listing of its GDRs on the FCA's Official List and the London Stock Exchange's Main Market. The company will instead list its ordinary shares directly on the LSE under the ticker symbol 'GTHC,' which will later be changed to 'GTCO' following the cancellation of the GDRs by July 31, 2025. The group explained that the offering would support the recapitalisation of its banking subsidiary, GTBank Nigeria, in line with the Central Bank of Nigeria's new minimum capital requirement of ₦500 billion for international commercial banks. 'The net proceeds of this offering will be used primarily for the further recapitalisation of GTBank Nigeria and are intended to be deployed in accordance with GTCO's growth strategy,' the company stated. According to the Group Chief Executive Officer of GTCO, Segun Agbaje, the development marks a defining moment in the company's growth trajectory. 'This offering and transition to a full listing on the Official List of the FCA and to trading of the company's shares on the London Stock Exchange's main market for listed securities represents a pivotal moment in GTCO's growth story, reinforcing our position as a forward-thinking African financial services institution,' Agbaje said. He added, 'By enhancing our global visibility and access to capital, we are not just advancing our own ambitions but also unlocking transformative opportunities across the markets and customer segments we serve.' In July 2024, GTCO completed the first tranche of its capital raise, securing ₦209 billion. The current offering represents the second tranche aimed at meeting the CBN's March 2026 deadline. GTCO also disclosed that it delivered a profit after tax of ₦258 billion in the first quarter of 2025, representing a 61 per cent year-on-year growth (excluding fair value gains), driven by strong core earnings. The bank's non-performing loan ratio improved to 4.5 per cent during the period under review, down from 5.2 per cent at the end of 2024.
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BBC News
05-05-2025
- Politics
- BBC News
EFCC tok why dem arrest Verydarkblackman [VDM]
Nigeria financial crimes police EFCC don confam say na dem hold popular rights activist Martins Vincent Otse alias Verydarkblackman (VDM). Di EFCC confam di arrest of VDM to BBC News Pidgin. Tok tok pesin of di commission Dele Oyewale on Monday say dem arrest di activist based on petitions by some complainants wey get grievances against VDM. "We arrest am to respond to series of allegations raised against am by some petitioners" na so Oyewale tok. Wen we ask am weda di petition dey related to GT Bank, e say di petition na from different pipo and dem owe di petitioners duty to protect dem. He add say "we go release am wen e meet di bail conditions and we go carry di case go court as soon as possible, we dey law abiding". E confam say na for Abuja dem arrest di activist. How di tori comot Tori bin comot for social media on Friday say VDM bin dey miss, odas tok say EFCC arrest am inside GT Bank. Im supporters begin online protests, some announce say dem go move against di bank. As at press time, GTBank never issue any statement to dat effect. For online video wey BBC see for di activist Facebook page, some mentees and supporters of VDM go EFCC office to give di activist food over di weekend, but dem come back say di security officers say nobody dey allowed to go see am or to give am food, say di officers go give am food by dia sef. Some young pipo tok say dem go do physical protest for Abuja on Monday. Many Nigerians don enter social media to call for di release of di activist. Presidential candidate of di Labour Party for Nigeria last elections Peter Obi and popular singer David Adeleke alias Davido follow chook mouth for VDM matter While Davido dey call for im release, Obi dey condemn di manner dem take arrest di activist say dem arrest am like wia dem dey kidnap pesin. Activist Omoyele Sowore allege say EFCC arrest VDM to silence am as im be one of di outspoken pipo for di kontri wey dey challenge corruption. Wetin VDM lawyer tok Meanwhile lawyer to VDM Mr Deji Adeyanju say na EFCC arrest di activist but dem no happy how di arrest happun. For statement from di lawyer law firm, dem claim say na for bank premises EFCC officials arrest VDM afta di activist and im mama go do complaint inside di bank. According to dem di officers lock up VDM for dia Abuja office and wen dem go to see him, di officers say e refuse to see anybody. Dem also claim say EFCC officials show dem di arrest warrant wey one chief Magistrate Njideka Iloanya Duru sign for di arrest of Martins Otse ontop allegation of cyberstalking. Di firm say dem go follow up di matter to activate im release, say dem no happy say EFCC no gree tell dem his exact offense. Who be VDM? Activist Verydarkblackman na sef acclaimed philanthropist, wey dey controversial for di Nigeria social media space. Im dey known for confronting goment officials, corruption and pipo wey dey go against di law. Sake of im activism, im don chop arrest plenti times and get pending court cases for many Nigeria courts. Actor Rita Edochie enter social media write say VDM dey always stand for di truth.
Zawya
13-02-2025
- Business
- Zawya
Press Release Zero Processing Fee; GTBank Removes Point of Sale (POS) Processing Fees to Support Businesses
Guaranty Trust Bank Ltd ( has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions. This initiative, which took effect Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers. With this initiative, all qualifying SME Merchants can now receive payments at zero cost, allowing them to reduce operational expenses, whilst promoting the merchant's enterprise, and enhancing customer experience. Speaking on the initiative, Miriam Olusanya, Managing Director, Guaranty Trust Bank Nigeria, said: 'At Guaranty Trust Bank, we are always looking for ways to add value to our financial ecosystem. By implementing the zero processing fees on POS transactions, we are empowering businesses to get the full value of every payment they receive, whilst also ensuring a more seamless and efficient payment experience.' The Zero Processing Charge campaign aligns with GTBank's ongoing efforts to empower businesses with innovative financial solutions that drive growth and efficiency. For more information, merchants are encouraged to contact their Relationship Managers or reach out to the Digital Banking Support Team at poshelpdesk@ Distributed by APO Group on behalf of Guaranty Trust Bank.
