Ecobank Transnational Incorporated, ETI, the parent of the Ecobank Group on Monday announced that its Nigerian subsidiary has secured a N50billion loan.
The credit facility, according to the bank, is 10-year bilateral subordinated loan.
In a statement by the Head of Corporate Communications at the bank, Adenike Laoye, stated that the bilateral funding provides stable medium-term liquidity to the balance sheet of Ecobank Nigeria.
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It would also positively improve its balance sheet ratios, especially the capital adequacy ratio by circa 300 basis points.
Ecobank said the transaction proceeds would be deployed to support Micro, Small and Medium Scale Enterprises (MSMEs) and small corporates.
