Nigeria TV Info
Guaranty Trust Holding Company Plc (GTCO) has injected N365.9 billion into its banking subsidiary, Guaranty Trust Bank Limited (GTBank), to meet the new minimum capital requirement for commercial banks with international authorization set by the Central Bank of Nigeria (CBN).
According to a statement filed with the Nigerian Exchange Limited and the London Stock Exchange on Friday, the capital injection was executed through the issue and allotment of 6,994,050,290 ordinary shares of fifty kobo each by GTBank to the holding company via a rights issue.
The statement added, "Through this capital injection, the share capital of GTBank has been increased from N138,186,703,485.78 to N504,037,107,058.45, ensuring the bank's compliance with the new minimum capital requirement for commercial banks with international authorization stipulated by the Central Bank of Nigeria."
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