Mar 29, 01:05 AM

Nigeria's Access Holdings to Raise $1.8 Billion for Expansion Amid Central Bank's New Capital Rules

Access Holdings, the parent company of Nigeria’s largest bank, plans to raise $1.8 billion for expansion. Nigeria's central bank sets higher capital base for banks, prompting many to raise funds to meet requirements amid economic challenges. The banking industry faces significant tests post-2023 turmoil.

#Access Holdings #Nigeria

Written with ChatGPT (GPT-3).

Sources

Bloomberg@business
2 years ago
Nigeria’s central bank increases the minimum capital requirements for lenders 10-fold as it seeks to bolster the defenses of an industry facing a steep naira devaluation, high inflation and a weak economy https://t.co/n7IoLkIPXh
Mwango Capital@MwangoCapital
2 years ago
A reminder of why it is always good to monitor the capital base of banks and to be aware that central banks can change minimum capital requirements For instance, Kenya's 2024 draft Budget Policy Statement plans to raise commercial banks' core capital from the KES 1B set in 2012 https://t.co/SGByi6GPDx https://t.co/BJsldtx2Vk
Mwango Capital@MwangoCapital
2 years ago
Many Nigerian banks fall below the new capital thresholds and need to raise capital to meet the new requirements. Here is an analysis by @Nairametrics: https://t.co/6HG8nZNOc4 https://t.co/BJsldtx2Vk

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Nigeria's Access Holdings to Raise $1.8 Billion for Expansion Amid Central Bank's New Capital Rules

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