Media reports confirm Skye Bank Plc is planning to raise about $150million in Tier Two Capital (Bonds or Preference Shares or Mezzanine Finance) to help shore up its Capital Adequacy Ratio (CAR). The Banks’s CAR is currently 16.9% just 1.9% higher than the CBN approved 15% meaning any further major write offs can suddenly put the bank under the CBN’s watch list. The bank also plans to raise Tier One Capital (Equities).
Watch Video of Skye Bank MD talking about his 2012 FY Performance. Skip to 3.28min where he talked about raising cash