Guaranty Trust Holding Company Plc (GTCO) has successfully completed its N10 billion private placement, allotting the entire 125 million ordinary shares offered to a single investor.
The shares, priced at N80 each, were fully subscribed in a swift transaction cleared by the capital market apex regulator, Securities and Exchange Commission (SEC).
The corporate disclosure filed with the Nigerian Exchange (NGX) on Thursday, January 22, 2026, disclosed that only one application was received for the entire offer, consisting of 125,000,000 ordinary shares of 50 kobo each.
According to the notice, the application was validated according to the terms of the Placing Memorandum dated December 24, 2025, resulting in a 100% subscription of the placement.
What GTCO is saying
In a statement signed by Erhi Obebeduo, GTCO’s Group General Counsel and Company Secretary, the company confirmed that the SEC had approved the basis of the allotment, while the Central Bank of Nigeria (CBN) had granted regulatory consent for the deal.
The allotment process saw the lone investor apply for and receive all the 125 million shares, which were allocated under the highest application band of 50,000,001 shares and above. This translated to a total subscription value of N10 billion.
Following the approvals, DataMax Registrars Limited, the registrar managing GTCO’s share registers, will immediately credit the allotted shares to the CSCS (Central Securities Clearing System) account of the investor.
Why the allotment
GTCO emphasized that the private placement was not related to any capital shortfall at its banking subsidiary, Guaranty Trust Bank Limited (GTBank), which already exceeds the Central Bank of Nigeria’s (CBN) minimum capital requirements for banks with international authorisation.
The N10 billion raise was conducted in compliance with Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies in Nigeria, which governs capital computation at the holding company level. As of August 2025, GTBank’s capital base stood at over N504 billion, well above regulatory thresholds.
This placement also aligns with a broader shareholders’ mandate approved at the Annual General Meeting (AGM) in May 2024, authorizing the Board to raise up to $750 million through various financial instruments.
Stock price performance on NGX
GTCO share price closed on Thursday, January 22, 2026, at N95.60 per share on the NGX, recording a 0.7% gain over its previous closing price of N94.95.
The stock began the year with a share price of N90.70 and has since gained 5.4% on that price valuation, ranking it 89th on the NGX in terms of year-to-date performance.
With the conclusion of the allotment, the lender’s shares outstanding stood at 36.4 billion with market capitalization at N3.48 trillion, making it the seventh most valuable stock on the NGX, about 3.29% of the NGX equity market.
What you should know
GTCO’s unaudited third-quarter financial performance was impressive. For the period ended September 30, 2025, the Group posted a profit before tax (PBT) of N900.8 billion, driven by robust performance in core earnings, particularly interest income (up 25.6% year-on-year) and fee income (up 16.8% year-on-year).
Despite a 26% year-on-year dip in PBT, due to the absence of N523.2 billion in fair value gains recognized in Q3-2024, the Group’s total assets closed at N16.7 trillion, while shareholders’ funds grew to N3.3 trillion. GTCO’s capital adequacy ratio (CAR) remained strong at 36.5%, highlighting its solid capital position.
In terms of asset quality, the Group’s IFRS 9 Stage 3 Loans stood at 3.3% for GTBank and 4.4% for the Group in Q3-2025, improving from 3.5% and 5.2% in Q3-2024, respectively. Additionally, the Group’s Cost of Risk (COR) improved to 2.2% from 4.9% in December 2024, reflecting enhanced asset quality.
The Group’s loan book grew by 16.5% from N2.79 trillion in December 2024 to N3.24 trillion in September 2025, while deposit liabilities rose by 16.0% from N10.40 trillion to N12.06 trillion during the same period.
