Ecobank secures N50 billion 10-year bilateral subordinated loan

Ecobank Nigeria, has secured a N50 billion, 10-year bilateral subordinated loan.
The disclosure was signed and made known to the media by the Group Head, Adenike Laoye and sent to the Nigerian Stock Exchange.
The funding will enable the bank to maintain a quality and stable balance sheet and also to ensure stable liquidity.
The statement from the bank reads: “Ecobank Transnational Incorporated (“ETI”), the parent of the Ecobank Group, announces that one of its significant subsidiaries, Ecobank Nigeria, secured N50 billion, 10-Year bilateral subordinated loan.
“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