GTBank finally hits CBN's N500 billion target after parent company takes big step

• After becoming the archetypal Nigerian slope to transverse the N1 trillion people successful profit, GTCO has achieved different first
• The fiscal instauration present has a secondary listing connected the London Stock Exchange, making it the archetypal Nigerian slope to execute that
• This is different of respective large changes that person happened successful the banking radical since the commencement of 2025

Ruth Okwumbu-Imafidon, a writer with Legit.ng, has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.

One of Nigeria’s apical banking institutions, Guaranty Trust Holding Company (GTCO), has officially listed connected the London Stock Exchange (LSE).

This makes it the archetypal Nigerian banking instauration to database connected the London bourse and go disposable for trading successful the United Kingdom (UK) fiscal markets.

The radical had since applied to database connected the LSE and yet scaled done each the regulatory hurdles.

GTCO present has entree to some the UK fiscal markets and the Nigerian superior market. Photo credit: GTCO
Source: Facebook

GTCO has its superior listing connected the Nigerian Exchange (NGX) and is presently worthy implicit N2.9 trillion.

It is besides present listed connected the LSE, wherever it volition commercialized nether the ticker “GTHC”.

A connection published connected the institution’s website reveals that astir 36.4 cardinal mean shares are listed and disposable for contiguous trading connected the LSE, according to Premium Times.

The connection from GTCO reads:

“The Company announces that its full issued stock capital, consisting of 36,425,229,514 Shares, has contiguous been admitted to the equity shares (international commercialized companies secondary listing) class of the Official List of the United Kingdom Financial Conduct Authority.”

This secondary listing makes GTCO the archetypal Nigerian fiscal instauration with a treble listing.

Other companies successful Nigeria besides listed connected the London Stock Exchange see Seplat and Airtel Africa.

Why did GTCO database connected the London Stock Exchange?

GTCO earlier confirmed plans to raise astir $100 million done a afloat marketed banal offering, that volition determination it distant from its existent Global Depositary Receipts (GDRs) structure.

The announcement was contained successful a study submitted to the Nigerian Exchange Limited (NGX) connected Thursday, July 3, 2025.

It confirmed that GTCO's communal banal volition beryllium admitted to the London Stock Exchange.

According to the company, the listing volition assistance recapitalise its banking affiliate, GTBank Nigeria, to conscionable the caller N500 cardinal minimum superior requirement for overseas commercialized banks acceptable by the Central Bank of Nigeria.

In the archetypal signifier of its equity superior issuance, GTCO had already raised N209.41 billion to conscionable the CBN requirements.

Major enactment alteration from GTCO

The fiscal instauration besides carried retired a large enactment shakeup recently, changing immoderate committee members.

Hezekiah Oyinlola, who has been the Board president since the founding of the holding company, retired and was replaced by a erstwhile CBN lawman governor, Suleiman Barau.

GTCO CEO, Segun Agbaje, noted that the listing volition assistance recapitalise GT slope to conscionable with the CBN requirements. Photo credit: GTCO
Source: Twitter

Mrs. Helen Bouygues, an American businesswoman, has besides retired and is to beryllium replaced by Mr. Soyoye, the co-founder and managing spouse of Helios Investment Partners LLP, a London-based backstage concern steadfast that specialises successful maturation capital, restructurings, and structured investments successful Sub-Saharan Africa.

GTCO becomes archetypal to transverse N1 trillion nett threshold

In related news, GTCO has crossed the N1 trillion nett threshold aft presenting its 2024 fiscal year.

Legit.ng reported that the institution submitted its audited consolidated and abstracted fiscal statements for the 2024 fiscal twelvemonth to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE).

The radical became the archetypal fiscal instauration successful Nigeria to surpass the N1 trillion nett threshold with a pre-tax nett of N1.004 trillion.

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Source: Legit.ng