UPDATE 1-Ecobank shelves Nigeria share sale, forecasts low loan growth

October 29, 2015 5:24 PM

35 0

LAGOS Oct 29 (Reuters) - Pan-African lender Ecobank has suspended plans to sell shares to raise capital for its Nigerian unit because market sentiment is weak and loan growth in Africa's biggest economy is slow, its CEO said on Thursday.

In July, Ecobank obtained board approval to raise fresh funds to help strengthen the capital base of its Nigerian unit as the country's banks prepare to adopt stricter international capital requirements. It did not say how much it planned to raise, but the Lagos-listed bank's business has since dete...

Also read: Houston sales tax revenue increases in November

Read more

To category page