GTCO Holdings Plc has disclosed plans to unveil 9 billion shares public offer, assuring shareholders and prospective investors of enhanced dividend pay out as well as the commitment to be the first to hit 2 billion profit margin.

The Group Chief Executive officer (GCEO), GTCO, Mr. Segun Agbaje, made the disclosure and assurance st the NGX Exchange event centre, Lagos Nigeria when he led the company’s board and management to present facts behind its offer of shares to the capital market community.

He said GTCO will soon unveil its 9 billion shares public offer at N44.50 per share, expected to raise bout N400 billion, at offer price of N44.50 per share.

Agbaje further assured shareholders and intending shareholders that GTCO is positioned for increased earnings and also, sustained returns to shareholders, with its focus on attaining the position as the first Nigerian bank to record over $1 billion dollar profit annually.

“There is no Nigerian company that has ever made a billion dollars in profit. And we’re going to be the first one, so we’re going to give you that,” he pledged.

Considering that the country’s currency suffered about 200 per cent devaluation which he noted has shrinking impacts on balance sheets, Agbaje said the bank therefore needs equity raising through the public offer.

“The ability to do business has reduced, the country’s President also saying he wants a 1 trillion economy.

“Outside Nigeria; we’re going to go to some new countries. We’re going to go into Senegal because we think the business is good.”

The Chairman NGX Group Plc, Dr. Umaru Kwairanga, in his address said that GTCO has over the years evolved as not only Nigerian, or African bank, but a global brand.

“In less than 40 years, the company has established presence across all sectors of the Nigerian economy, across all the states of Nigeria and in several countries in Africa, Europe, wherever you see the GT brand, you see innovation, excellence service commitment to customers and the passion for excellence.”

According to him, such features has made the company stood out as one of the premier financial services conglomerate since it was first listed on the exchange almost 30 years ago.

He said that the astute investors who invested in the bank earlier over the years, have enjoyed regular dividends and capital appreciation,   because the board and management are always thorough.

“They are here to show through facts and figures that the future is even brighter for the group and the rest of shareholders who decide to invest in the current offer,” he had assured.

Chairman NGX Exchange Limited, Mr. Ahonsi Unuigbe, In his address recalled that, in 2004, the bank successfully raised over 11 billion naira on the Nigerian Stock markets to expand and compete globally.

In 2021, the bank recorded a beautiful transition from Guaranty Trust Bank Plc to holding company structure, aiming to diversify its services beyond traditional banking.