Guaranty Trust’s new holding company

GTCO Plc is a diversified financial services company with N5.144trillion in assets, providing commercial banking services and non-banking financial services across eleven countries, including the United Kingdom. The Group offers a wide range of banking as well as non-banking financial services in Nigeria, West Africa, East Africa, and the United Kingdom. The Group is rated B- by S&P, a reflection of the Group's stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.

Earlier this year, the diversified financial services provider revealed to the Nigerian Exchange Groups (NGX) and shareholders that GTCO Plc had completed the acquisition of Investment One Financial Services Limited's 100% equity stake in Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM), collectively known as the Companies (IOFS or the Seller).

The Nigerian Pensions Commission (PenCom) authorized IOPM to conduct business as a Pension Fund Administrator in Nigeria.

The acquisition would broaden the product portfolio of the Group into the Assets and Funds management segments, positioning GTCO Plc as a key player for all important financial services, in line with GTCO Plc's ambitions to conduct business in the finance sector across Africa.

“Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continue to drive our financial success. As a Proudly African and Truly International brand, we will continue to live by these values — of excellence, hard work and integrity, even as we create faster, cheaper, safer and products for people and businesses through every stage of life,” said Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, concerning the group’s diversification.

With N5.144 trillion in assets, GTCO Plc offers non-banking and commercial banking services in eleven nations, including the United Kingdom. The S&P has given the Group a B- rating, reflecting its stability and standing as a well-known business with robust asset values and continuous, exceptional financial performance.

What this means for shareholders

The Guaranty Trust Holding Company Plc, which has the responsibility for fixing strategic direction, offering group-wide oversight, and coordinating corporate governance and oversight roles for all of its businesses—which will eventually go further than banking to include additional financial services—is made possible by the holding company structure.

Current Guaranty Trust Bank Plc shareholders' ownership and privileges won't change as a result of the transition. The shares of each shareholder are simply transferred in a 1:1 ratio to Guaranty Trust Holding Company Plc. Guaranty Trust Bank Plc shareholders with CSCS accounts will have their shares transferred to Guaranty Trust Holding Company Plc, and shareholders without CSCS accounts will get actual share certificates from Guaranty Trust Holding.

Guaranty Trust Holding Company Plc share certificates will be sent to the registered address in the registrar's database in place of the physical share certificates of Guaranty Trust Bank Plc for shareholders without CSCS accounts, who will instead receive the physical share certificates of Guaranty Trust Holding Company Plc. The total number of shares owned by shareholders whose shares are both partly owned at the CSCS and physically held will be updated in the CSCS account.

The holding company structure will allow the group to capitalize on the capabilities of current operations while generating profit from new ventures. As it increases its core banking growth in Nigeria and extracts more value from its overseas banking operations, GTCO will generate numerous streams of income, expand its business, and enter new markets.

Overall, the holding company structure will allow it to maximize the growth potential of the organization, assuring longer-term, higher and more sustainable returns for all of its shareholders.