GTBank Makes History As First West African Bank To List On London Stock Exchange Main Market.
Guaranty Trust Holding Company Plc (GTCO), the parent company of GTBank, has achieved a groundbreaking milestone by becoming the first West African financial institution to list its ordinary shares directly on the Main Market of the London Stock Exchange (LSE). The historic listing, which commenced trading on 9 July 2025, marks a significant step for Nigeria’s banking sector, elevating its presence on the global financial stage.
The listing saw GTCO raise $105 million through a fully marketed equity offering of approximately 2.29 billion new ordinary shares, priced at N70.00 per share ($0.0459). The shares began trading under the ticker “GTHC,” with plans to transition to “GTCO” following the cancellation of the company’s existing Global Depositary Receipts (GDRs) by 31 July 2025. The offering, managed by Citigroup Global Markets Ltd., attracted strong interest from institutional investors in the UK, US, and other jurisdictions, reflecting robust confidence in GTCO’s financial strength and strategic vision.
This move aligns with the Central Bank of Nigeria’s (CBN) mandate requiring commercial banks with international licences to raise their equity capital to a minimum of N500 billion by March 2026. GTCO has already made significant progress, having secured N209.41 billion in a prior capital raise in July 2024. The proceeds from the LSE listing will primarily support the recapitalisation of GTBank Nigeria, enabling the bank to expand its loan portfolio, upgrade IT infrastructure, open new branches, and pursue selective acquisitions.
Segun Agbaje, Group Chief Executive Officer of GTCO, hailed the listing as a pivotal moment for both the company and African financial institutions. “This achievement is a testament to the strength of our franchise, the clarity of our strategy, and the discipline with which we execute,” Agbaje stated. “We are proud to lead the way for West African banks on the global stage and deeply honoured by the trust placed in us by the international investment community.”
The successful listing also signals renewed investor confidence in Nigeria’s economic outlook, bolstered by recent reforms and a return to orthodox monetary policies under the CBN. GTCO, already a leading player on the Nigerian Exchange Limited (NGX), now enjoys dual listing status, enhancing its access to global capital markets and strengthening its position as one of Africa’s most profitable financial services groups.
Operating across 11 countries, including Nigeria, the UK, Ghana, and Kenya, GTCO provides a wide range of services, including banking, payments, asset management, and pension administration. The LSE listing is expected to boost the group’s global visibility, attract new investors, and support its ambitious growth strategy across African and international markets.
Analysts have praised GTCO’s disciplined risk management and strong financial performance, with the group reporting a profit after tax of N258 billion in the first quarter of 2025, a 61% year-on-year increase. The bank’s non-performing loan ratio also improved to 4.5%, underscoring its prudent approach to lending.
As GTCO continues to innovate and expand, this landmark listing positions the company to capitalise on Africa’s growing financial services sector while setting a precedent for other West African institutions aiming to compete on a global scale.
