• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Bank Recapitalization

Public Offer: “GTCO will be the first Nigerian company to achieve $1 billion profit”- Agbaje 

Chris Ugwu by Chris Ugwu
July 9, 2024
in Bank Recapitalization, Financial Services, GTCO Offer, Sectors
GTCO
Share on FacebookShare on TwitterShare on Linkedin

Guaranty Trust Holding Company Plc (GTCO) has said that its proposed N400.5 billion capital raise via public offer is intended to enhance its capital base and expand its international footprint.  

Speaking at the “Facts Behind the Offer Presentation,” GTCO Group Managing Director Mr. Segun Agbaje disclosed that the group plans to issue nine billion ordinary shares of 50 kobo each at an offer price of N44.50 per share on the Nigerian Exchange Limited (NGX). 

 This initiative aims to raise N400.5 billion from the investing public through the public offer. 

RelatedStories

Best performing stockbrokers Q2 2025

July 5, 2025
The 10 most profitable listed companies in Nigeria – 2024  

The 10 most profitable listed companies in Nigeria – 2024  

July 5, 2025

“On growth strategy going forward, GTCO plans to deepen the business, exposure to critical sectors would be bigger and stronger. 

“Outside Nigeria, we are planning to invest in Senegal, because we think business is good there. We are going to grow in Cote d’Ivoire, Ghana, and Kenya,” he said 

He vowed that the Group would become the first financial institution to reach $1 billion in profit. 

“We want a market capitalization that Nigeria will be proud of. There is no Nigerian company that has ever made $1 billion in profit, and we are going to be the first to achieve it,” he said.  

Speaking to the capital market community on the rationale behind the offer, he noted that banks need equity.  

He said the country has just gone through about a 200% devaluation of the Naira which according to him, the balance sheets of banks have shrunk and the ability to do business has reduced.   

Achieving a $1 trillion economy 

Agbaje stated that achieving a $1 trillion economy, as targeted by the Federal Government, will not be possible with the current size of banks unless capital is raised. 

He noted that the group is not raising capital solely at the central bank’s request.  

“You might not believe me,” he said, “but we had already decided to raise capital to pivot this organization for transformational growth.” 

“We’re going to grow the business in Nigeria and outside Nigeria. We’re going to grow the non-banking businesses. We’re going to improve our technology and when people ask me what my job description is today, I say I’m in the business of creating great customer experiences. 

“It is impossible to do that without big technology. When we do food and drink, it is about our customer experience. When we do fashion, it is about our customer experience and when we do banking, it is about our customer experience, and you cannot do that without the right technology platform. 

“So irrespective of whether the central bank asked for capital raising or not, we would have raised capital.” 

He expressed further that the GTCO would go into an acquisition with new capital, adding that the financial institution is going to change its core banking software across its region. 

What the NGX said 

The Group Chairman, NGX Group Plc, Alhaji Umaru Kwairanga described GTCO as a beacon of excellence in the capital market, recognised as a leading issuer and one of Nigeria’s premier financial institutions. 

 Kwairanga said that over the years, GTCO from its GTBank era to the HoldCo era has consistently demonstrated remarkable resilience, innovation, and leadership in the financial sector. 

He assured that the NGX Group is committed to supporting GTCO and other financial institutions in their recapitalisation efforts. 

“Our recent initiatives, such as the launch of the NGX e-platform, underscore our dedication to enhancing market efficiency and accessibility. 

“Today’s presentation is a clear indication of GTCO’s proactive approach to engaging with the market and ensuring transparency in their capital raising activities. 

“We believe that this initiative will not only strengthen GTCO’s capital base but also enhance investor confidence and contribute to the overall stability of the Nigerian financial system.” 

 


Follow us for Breaking News and Market Intelligence.
Tags: GTCOGTCO Holdings - NewsNGXPublic OfferSegun Agbaje
Chris Ugwu

Chris Ugwu

Chris is a Senior Financial Analyst at Nairametrics Advocates Limited with over a decade stint in active journalism and public relations practice.

Related Posts

Equities

Best performing stockbrokers Q2 2025

July 5, 2025
The 10 most profitable listed companies in Nigeria – 2024  
Exclusives

The 10 most profitable listed companies in Nigeria – 2024  

July 5, 2025
GTCO to write off Aiteo loan and switch to aggressive recovery plan
Market Views

GTCO’s $100 Million Accelerated Bookbuild: Why it makes sense

July 5, 2025
Wema Bank, Custodian Investment exits NGX 30 index
Equities

Aradel, Wema Bank join NGX 30 index after semi-annual rebalancing 

July 2, 2025
Top 10 Nigerian companies with the largest number of employees as of 2024 
Exclusives

Top 10 Nigerian companies with the largest number of employees as of 2024 

June 21, 2025
GTCO to write off Aiteo loan and switch to aggressive recovery plan
Equities

CBN Forbearance hits FUGAZ stocks—except GTCO

June 17, 2025
Next Post
Bybit

Bybit announces listing of Hamster Kombat tokens for pre-market trading 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • IGP sues Abu Arome, 3 Ghanaians over alleged forgery of company shares allocation document
  • Nigeria’s oil rig count rises to 46 in July 2025 – NUPRC
  • Oyo State approves N7.7 billion for two surveillance aircraft to combat insecurity 

Follow us on social media:

Recent News

IGP prosecutes Nigerian businessmen over alleged N13.5 billion forex fraud dispute  

IGP sues Abu Arome, 3 Ghanaians over alleged forgery of company shares allocation document

July 9, 2025
Nigeria’s gas flare commercialisation programme could unlock $2.5 billion investment – NUPRC 

Nigeria’s oil rig count rises to 46 in July 2025 – NUPRC

July 9, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics