Access Bank To Raise Additional Capital

• Access Bank Plc on Wednesday said it had plans to raise additional capital in the future.
• The bank’s Executive Director, Commercial Banking, Mr. Roosevelt Ogbonna, who disclosed this in a briefing in Lagos, however, did not say when it planned to raise the capital.
• Although Ogbonna said details would be provided in the future, he disclosed that the capital would be raise via a local currency instrument.

“It will be an interesting instrument. Because of its nature, it will be very attractive for investors because it will be the first of its kind.”

• The bank had recently raised N41.8bn via rights issue and the Access Bank executive director explained that local investors accounted for the bulk of it.