Proshare Logo
   Market Date: 29-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Unity remains national bank, meets capital requirement of N25bn

Category: Capital Market

  Read (1787)
Unity remains national bank, meets capital requirement of N25bn

Wednesday, 06 October 2010

Recall that on June 28, 2010, the Central Bank of Nigeria (CBN) extended the deadline for the recapitalization of Unity Bank Plc by three months, ending September 30, 2010.

A major reason for the extension was the unanticipated three months extension in the timeline for setting up the Asset Management Corporation of Nigeria (AMCON), which is expected to purchase non-performing loans in banks and serve as a recapitalization vehicle for the banking industry.

At the expiration of the deadline, CBN is pleased to note that Unity Bank Plc has successfully raised N17.34 billion through a Rights Issue, thereby meeting the regulatory capital requirement and the minimum capital adequacy ratio of N25 billion and 10%, respectively.

The additional fresh capital shall, however, be subjected to capital verification which is scheduled to commence soon.

The CBN advices all stakeholders to be guided accordingly.

Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Capital Market

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014