Access Bank Plc yesterday launched a highly successful $400 million seven-year Tier 2 capital issuance, which is callable at the end of five years. This transaction follows the bank’s highly successful $350 million five-year senior debt issued in 2012. The bank recently got shareholders’ approval to raise $1 billion capital […]
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Interest rate cut not feasible now – Bankers’ Committee
The Bankers’ Committee on Tuesday said that it might be difficult for the Central Bank of Nigeria to achieve lower interest rates for the country owing to the current macroeconomic environment. The committee, at the end of its 316th meeting held at the headquarters of the CBN in Abuja, specifically […]
Fitch Revises Outlook on 4 South African Banks to Negative
(Fitch released the following statement) Fitch Ratings-London-17 June 2014: Fitch Ratings has revised the Outlook on Absa Bank Limited (Absa Bank), FirstRand Bank Limited (FirstRand), Nedbank Limited (Nedbank) and The Standard Bank of South Africa Limited (SBSA) and their respective rated holding companies to Negative from Stable. The rating actions […]