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 […]

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.