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Guaranty Trust Holding Company (GTCO) Plc is poised to embark on the second phase of its recapitalisation programme, building on the momentum generated from the successful first phase. This development was disclosed by the Group Chief Executive Officer, Mr Segun Agbaje, at the company’s annual general meeting held in Lagos. The recapitalisation initiative, driven by the Central Bank of Nigeria’s (CBN) policy, is expected to further strengthen GTCO’s market leadership and enhance its global competitiveness.
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“We are prepared to launch the second phase of our capital raising plan in 2025, targeting significant foreign institutional investments to further solidify our reputation as a globally recognised and competitive financial services brand,” Agbaje said.
The first phase of the capital raising in 2024 attracted strong participation from domestic retail and institutional investors, raising N209.41 billion and expanding the group’s shareholder base from 332,000 to over 460,000. Agbaje emphasized that the group’s focus would be on deepening digitalization, enhancing customer experiences, and expanding its ecosystem of financial and non-financial solutions
“We will remain true to our purpose: driving economic progress, fostering financial inclusion, and creating sustainable value for all stakeholders,” Agbaje said.
The group achieved a historic milestone in 2024, delivering over ₦1 trillion in profit before tax, becoming the first Nigerian financial institution to achieve this feat. Shareholders approved a total dividend of N8.03 per share for the 2024 financial year.
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Chairman of Guaranty Trust Holding Company (GTCO) Plc, Mr Hezekiah Sola Oyinlola, attributed the group’s success to its ability to remain agile and forward-thinking. He said the group’s ₦1 trillion profit underscored the resilience of its business model, the dedication of its people, and the trust its customers place in the group.
“Our strategic diversification into payments, asset management, and pension fund administration has provided complementary revenue streams, reinforcing our leadership in the financial services sector,” Oyinlola said.
Shareholders commended the board and management for sustained growth, with Chief Timothy Adesiyan praising the management for their impressive financial performance and dividend payout.
In a succession plan announcement, Oyinlola revealed that Mr. Suleiman Barau would be appointed as the new Group Chairman, pending regulatory approval. “I am confident that under his guidance, GTCO will continue to thrive, innovate, and deliver superior value to all its customers and stakeholders,” Oyinlola said
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