Guaranty Trust Holding Plc, the parent company of Guaranty Trust Bank, a leading Nigerian financial institution, announced on Friday its intention to seek shareholder approval to raise a maximum of $750 million in capital.
This is expected to happen during a meeting scheduled for May 9, 2024.
This development align with the efforts of other banks to increase capital reserves in order to meet new regulatory targets set by CBN.
The Central Bank of Nigeria, in March, announced minimum capital requirements for banks to bolster the country’s financial system and enable lenders to play a more significant role in aiding economic growth.
Join our WhatsApp community via https://goquick.ly/cj8q2 for instant and latest news updates.
