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UBA to raise N50bn

Category: Capital Market


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 UBA to raise N50bn

By Gbenga Agbana with agency reports, Published: Wednesday, 28 Apr 2010


United Bank for Africa Plc said on Tuesday, it was planning to raise between N35bn to N50bn in tier one and two capital in the near term, to shore up its capital adequacy and fund growth.



”What we are looking at this time is between N35bn and N50bn naira maximum via Tier 1 and 2,” UBA Chief Financial Officer, Mr. Victor Osadolor told a conference call, adding that the plans were part of a long-term N500bn capital raising programme, according to Reuters reports on Tuesday.


(Source:Punch)



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