Ecobank Nigeria Secures N50bn 10-Year Subordinated Loan

Goddy Egene

Ecobank Transnational Incorporated (ETI), the parent of the Ecobank Group, yesterday said that one of its significant subsidiaries, Ecobank Nigeria, secured N50 billion, 10-Year bilateral subordinated loan.

In a notification to the Nigerian Stock Exchange (NSE), ETI explained that the funding provides stable medium-term liquidity to the balance sheet of Ecobank Nigeria and positively improved its balance sheet ratios. The proceeds would be deployed to support micro, small and medium scale enterprises (MSMEs) and small corporates.