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By Peter Egwuatu, with the agency report
W ema Bank Plc said yesterday that it would increase N20 billion by the offer of obligation in August to boost its capital adequacy.
According to Reuters, Adebise said, "We need to improve our financing.The bank is increasing Tier II and the offer will be open in August."
The increase in debt is the second tranche of a $ 50 billion bond program. The bank said it has designated parties for the offer and aims to increase its capital ratio to 15% by the end of the year.
The debt issue would help Wema Bank to increase its capital ratio by 15%, from 14.3% The bank had previously stated that it could issue debt baduming bond yields from the state were falling below 18 percent with the drop in inflation
. He also talked about increasing capital in 2018 to strengthen his capital ratio and reduce operating costs as his new digital strategy gains momentum.
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