A lending product designed to enable clients to have access to additional liquidity to meet their investment needs has been introduced by Standard Chartered Bank (Nigeria).
A statement disclosed that this borrow to invest scheme is mainly for customers who intend to purchase an investment product of the bank but are short of cash for the transaction.
The lender said the product, Leverage Lending, is a variant of its Wealth Management lending solution, which allows clients to access funds by borrowing money to invest in approved securities in addition to their contribution.
It said customers would potentially benefit from higher returns on the investment product using this leverage financing method.
Leverage Lending offers clients more liquidity to invest in mutual funds, FGN bonds, Eurobonds and treasury bills, solving a need for clients to grow their investment portfolio.
Standard Chart said some of the features of the Leverage Lending product include attractive lending rates, repayment flexibility and potential to achieve higher returns on investment.
“At Standard Chartered Bank, our purpose is to drive commerce and prosperity through our unique diversity. Hence, we are constantly seeking ways to help clients prosper and grow their wealth,” the Head of Wealth Management at StanChart, Mr Simpa Adaba, said.
“This product is one way we can achieve this by providing a platform for clients to attain their investment goals without being constrained by access to liquidity. Leverage Lending is currently available to our priority banking clients,” Mr Adaba added.