Temitope
Temitope Akinola
Skye Bank Plc is planning to raise N30bn fresh equities from existing and new investors before the end of the year. The managing director of Skye Bank Plc, Mr Timothy Oguntayo made this known on Monday.
Oguntayo said part of the fund is meant to help prepare for Nigeria's adoption of stricter international requirements. He said the bank had identified some shareholders who were willing to support the cash call.
According to the bank, the initial plan was to raise N50bn. Skye Bank just concluded its 2014 acquisition of nationalized Mainstreet Bank.
The bank had so far restructured 65bn in loans which is about 30 percent of which were given to clients in the oil and gas sector out of a total loan book of which grew by 14 percent in the half year to N657 billion. It set loan growth target of 5 percent in 2015.
Daily Independent
Oguntayo said part of the fund is meant to help prepare for Nigeria's adoption of stricter international requirements. He said the bank had identified some shareholders who were willing to support the cash call.
According to the bank, the initial plan was to raise N50bn. Skye Bank just concluded its 2014 acquisition of nationalized Mainstreet Bank.
The bank had so far restructured 65bn in loans which is about 30 percent of which were given to clients in the oil and gas sector out of a total loan book of which grew by 14 percent in the half year to N657 billion. It set loan growth target of 5 percent in 2015.
Daily Independent
