By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian mid-tier lender, Stanbic IBTC on Thursday said it is seeking to raise N30 billion in Tier II capital according to a Reuters report.
The report said Sola David-Borha, chief executive officer (CEO) of the mid-tier lender confirmed the capital raise during an analysts conference call.
According to her, the actual amount is subject to market conditions and regulatory guidelines and did not give a timeline for the capital raising.
She further affirmed that Stanbic IBTC was targeting a 15 percent loan growth for the second-half of 2014, targeting business customers, after it grew loans 18 percent in the first-half.
