Official: Stanbic IBTC Will Raise "Up To N30billion" In Tier II Capital

Official: Stanbic IBTC Will Raise “Up To N30billion” In Tier II Capital

Stanbic IBTC, the Nigerian unit of South Africa’s Standard Bank, plans to raise up to 30 billion naira in Tier II capital, a presentation on its website said on Thursday. CEO Sola David-Borha confirmed the capital raise during an analysts conference call on Thursday but said the actual amount would depend on market conditions and […]

Stanbic IBTC, the Nigerian unit of South Africa’s Standard Bank, plans to raise up to 30 billion naira in Tier II capital, a presentation on its website said on Thursday.

CEO Sola David-Borha confirmed the capital raise during an analysts conference call on Thursday but said the actual amount would depend on market conditions and regulatory guidelines. She did not provide a timeline.

David-Borha said the mid-tier lender was aiming for a 15 percent loan growth for the second-half of 2014, targeting business customers, after it grew loans 18 percent in the first-half