Greenwich Holdings Limited plans to undertake new capital raising to strengthen its capital market subsidiaries and ensure they meet the new capital requirements for their operations.
The new capital raising comes on the heel of the successful recapitalisation of the group’s banking subsidiary.
With the success of its recapitalisation, Central Bank of Nigeria (CBN), had granted Greenwich Merchant Bank initial approval to transit into a regional commercial bank, with the final license being expected from the apex bank.
Group Managing Director, Greenwich Holdings, Mr Samson Ariyibi, said the strategic priorities of the group in the next two years included additional capital raising to recapitalise its capital market subsidiaries ahead of the 2027 deadline.
Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) had recently increased the minimum capital requirements for capital market operators.
Ariyibi said the increase minimum capital requirements for operators has made it necessary for the group to raise new equity funds.
He noted that the group had undertaken a restructuring that led to the formal establishment of the holding company with four subsidiaries, including Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, Greenwich Securities Limited and Greenwich Capital Markets Limited.
‘The group remains focused on strengthening its capital base, expanding its footprint in financial services, and advancing its digital transformation agenda, while positioning for sustained growth across its core business lines,’ Ariyibi said.
Addressing shareholders at maiden annual general meeting of the holding company, Chairman, Greenwich Holdings Limited, Mr. Kayode Falowo, said the group has received Approval-In-Principle for the conversion of Greenwich Merchant Bank to a commercial bank with regional authorisation while awaiting the final license.
He said the company has maintained strong cost discipline despite inflationary pressures and continued investments in technology and branch expansion.
He noted that the bank recorded zero non-performing loans in 2025 as key performance indicators rose significantly.
He pointed out that the holding company structure was a strategic decision aimed at strengthening governance, improving capital deployment, and enhancing long-term shareholder value.
Shareholders commended the board and management for its strong financial performance in 2025 and successful transition into a financial holding company.
Shareholders also approved all resolutions presented, including the resolution authorising the company to increase its share capital, subject to regulatory approval, as well as the re-election of all directors.
Shareholders’ leaders- Dr. Umar Faruk and Sir Sunny Nwosu, who spoke on behalf of the shareholders, lauded the board and management for sustaining growth and dividend payment.
Key extracts of the audited report and accounts for the 2025 business year showed that Greenwich Holdings recorded a 131.9 per cent increase in gross earnings to N64.23 billion. Profit before tax rose by 71 per cent to N19.29 billion. Profit after tax grew by 71.3 per cent from N8.11 billion in 2024 to N13.89 billion in 2025.
The group’s balance sheet also improved with total assets rising by 69 per cent to N309.12 billion. Shareholders’ funds rose by 67 per cent to N76.71 billion. Customer deposits jumped by 80.5 per cent to N173.84 billion.