Stanbic IBTC, the Nigerian arm of
South Africa’s Standard Bank, has announced plans to raise up to N30 billion in
tier-2 capital. The bank disclosed this in a presentation on its website
yesterday.
According to Reuters, the Chief
Executive Officer, Stanbic IBTC Holdings, Sola David-Borha, confirmed the
capital raising during an analysts conference call yesterday. But she said the
actual amount would depend on market conditions and regulatory guidelines. She
did not provide a timeline.
“We will continue to focus on growing
our client base across target segments and key sectors and maintain rigour in
credit process,” David-Borha said.
Shares in Stanbic IBTC, which have
gained 37.2 percent this year, were flat on Thursday at N29.34 per share.
David-Borha said the bank was aiming
for a 15 per cent loan growth for the second-half of 2014, targeting business
customers, after it grew loans 18 per cent in the first-half.
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