Banking Sector
Ecobank Nigeria Received N50 billion 10-Year Bilateral Subordinated Loan
Ecobank Nigeria Received N50 billion 10-Year Bilateral Subordinated Loan
Ecobank Nigeria announced it has received N50 billion 10-year subordinated Loan.
Adenike Laoye, Group Head, Corporate Communications, Ecobank Nigeria, disclosed this in a statement released through the Nigerian Stock Exchange.
The statement read in part, “The bilateral funding provides stable medium-term liquidity to the balance sheet of Ecobank Nigeria and positively improved its balance sheet ratios, especially the capital adequacy ratio by circa 300 basis points.
“The transaction proceeds would be deployed to support Micro, Small and Medium Scale Enterprises (“MSMEs”) and Small Corporates.“