Access Holdings has received shareholders’ approval to raise $1.5 billion from the local and international capital markets amid its recapitalisation plan.
The company said the capital would be raised “whether by way of a public offering, private placement, rights issue, book building process or any other method or combination of methods”. CBN adjusted the capital base for commercial banks with international licences to N500 billion, while national and regional financial institutions’ capital bases were pegged at N200 billion and N50 billion, respectively.All banks are required to meet the minimum capital requirement within 24 months, from April 1 and March 31, 2026.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Access Holdings expands loans by 60% to N8.9trThe Nation Newspaper Access Holdings expands loans by 60% to N8.9tr
Source: TheNationNews - 🏆 6. / 69 Read more »
Access Holdings annual profit surges as revenue touches record N2.6 trillionThe surge in top-line now makes Access Holdings Nigeria’s biggest public company by revenue, confining the previous holder of the crown MTN Nigeria to the pillion seat.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Access Holdings launches N2.3tr new capital raising planThe Nation Newspaper Access Holdings launches N2.3tr new capital raising plan
Source: TheNationNews - 🏆 6. / 69 Read more »
How Access Holdings built N26.7trn balance sheet in 2023 -- biggest expansion in yearsNigeria's independent online newspaper
Source: thecableng - 🏆 2. / 80 Read more »
Access Holdings Plc Achieves Record Asset Expansion in 2023Access Holdings Plc experienced a significant increase in its asset base, reaching N26.7 trillion in 2023. This marks the largest expansion in the bank holding company's history, driven by aggressive offshore expansion. The audited financial report for the year ended December 2023 reveals a 78 percent growth in assets, amounting to N11.7 trillion. The bank's offshore banking operations contributed to substantial net foreign exchange gains due to the devaluation of the naira in 2022.
Source: thecableng - 🏆 2. / 80 Read more »
STOCKWATCH: UPDC REIT, FCMB Group, Access Holdings top stocks pick this weekThis is not a buy, sell or hold recommendation but a stock investment guide.
Source: PremiumTimesng - 🏆 3. / 78 Read more »