NSE-listed group Access Bank raised, via its London-based subsidiary, a $158 million trade finance facility from 13 international banks.

Initially set at $100 million the amount was increased to $158 million due to higher investor interest.

The operation was coordinated by the multilateral institution African Trade Insurance (ATI) and the Dubai-based Mashreq Bank. According to analysts, this amount is one of the highest mobilized by a Nigerian bank following the foreign currency shortage in recent years.

Access Bank Uk, Commerzbank, London Forfaiting Company and Mashreq Bank were the financing’s main arrangers, jointly with some African banks. These include the Moroccan BMCE Bank of Africa, Mauritius Commercial Bank and State Bank of Mauritius.

 

SOURCE: https://brandspurng.com/access-bank-raises-158m-from-13-international-banks/

Kudus...

They tried.

There is no value in that investement when startups with less than 100staff gets hundreds of million dollars investment. I want to know who negotiated that deal

And tomorrow you will hear someone say yahoo yahoo.$$$ only yahoo

Why 13 bank when just one G-guy will fetch them that money.

sayusuf:
Why 13 bank when just one G-guy will fetch them that money.

Lol how much do gee boys have? Is it the 10k USD they flaunt to ur face?

Check my signature and feel free to call me.

They're not celebrating the amount of money raised. Access Bank is celebrating their ability to borrow from outsiders or the willingness of banks in other countries to risk their monies with a Nigerian bank, considering the high rate of corruption, insecurity, and instability in parts of the country.

If you have an account with this bank, what you should be woried about is how the high interest rate for this loans will affect you. Will it result in unnecessary fee reduction levied on your balance?

For share holders, is it possible for the high interest rates to diminish your yearly dividend payment and return on your investment?

If Access Bank defaults on this loans, you may suffer losses on your shareholder stocks. If the bank managers use the monies raised to buy a private jet or bullet-proof Range Rover, losses will likely be reported at the end of year and shareholder losses will occur.

For depositors, your account may be charged unnecessary fees or you may lose all your cash if these loans are mismanaged and the bank shuts down.

BedLam:
Lol! 153Million dollars for a bank and this look huge? African banks are some of the less innovative banks in the world. This is why they milk the poor customers by all means. By now banks should be funding start ups , diverting to telecomms and other industries. If I have the war chest these banks have, I will control every damn sector.

Even the smallest banks in Europe have assets that you can't even think of. Banking is an empire! Not just taking people's money and withdraw.

namet:
They're not celebrating the amount of money raised. Access Bank is celebrating their ability to borrow from outsiders or the willingness of banks in other countries to risk their monies with a Nigerian bank, considering the high rate of corruption, insecurity, and instability in parts of the country.

If you have an account with this bank, what you should be woried about is how the high interest rate for this loans will affect you. Will it result in unnecessary fee reduction levied on your balance?

For share holders, is it possible for the high interest rates to diminish your yearly dividend payment and return on your investment?

If Access Bank defaults on this loans, you may suffer losses on your shareholder stocks. If the bank managers use the monies raised to buy a private jet or bullet-proof Range Rover, losses will likely be reported at the end of year and shareholder losses will occur.

For depositors, your account may be charged unnecessary fees or you may lose all your cash if these loans are mismanaged and the bank shuts down.

God bless!!! My motive for reading comments here is to check the effect, nd u have done that. not lyk those blabbing upstairs

namet:
They're not celebrating the amount of money raised. Access Bank is celebrating their ability to borrow from outsiders or the willingness of banks in other countries to risk their monies with a Nigerian bank, considering the high rate of corruption, insecurity, and instability in parts of the country.

If you have an account with this bank, what you should be woried about is how the high interest rate for this loans will affect you. Will it result in unnecessary fee reduction levied on your balance?

For share holders, is it possible for the high interest rates to diminish your yearly dividend payment and return on your investment?

If Access Bank defaults on this loans, you may suffer losses on your shareholder stocks. If the bank managers use the monies raised to buy a private jet or bullet-proof Range Rover, losses will likely be reported at the end of year and shareholder losses will occur.

For depositors, your account may be charged unnecessary fees or you may lose all your cash if these loans are mismanaged and the bank shuts down.

Good thing I don't have account with them but what are they using the borrowed money for ? Doesn't look to me like they will venture into something new or some sort of development that will yield large growth.

The biggest source of revenue for Nigerian banks is to lend monies to state governments or to local government chairmen at supper high interest rates. They do this against the monthly allocations. Without these short-term loans most States would collapse totally.

The second is to finance government awarded contracts. The third is the small N50 fees that they charge your account monthly.

BedLam:
Good thing I don't have account with them but what are they using the borrowed money for ? Doesn't look to me like they will venture into something new or some sort of development that will yield large growth.

namet:
They're not celebrating the amount of money raised. Access Bank is celebrating their ability to borrow from outsiders or the willingness of banks in other countries to risk their monies with a Nigerian bank, considering the high rate of corruption, insecurity, and instability in parts of the country.

If you have an account with this bank, what you should be woried about is how the high interest rate for this loans will affect you. Will it result in unnecessary fee reduction levied on your balance?

For share holders, is it possible for the high interest rates to diminish your yearly dividend payment and return on your investment?

If Access Bank defaults on this loans, you may suffer losses on your shareholder stocks. If the bank managers use the monies raised to buy a private jet or bullet-proof Range Rover, losses will likely be reported at the end of year and shareholder losses will occur.

For depositors, your account may be charged unnecessary fees or you may lose all your cash if these loans are mismanaged and the bank shuts down.

Why would an organized institution borrow such to make losses? well yeah, there's always some level of risk involved in every investment. But i believe it's a calculated one with good investment plans. This should take a positive toll on dividend recieved in the near future.

This is Nigeria.

Governors borrow to steal all the time. Bank executives can borrow to steal, by either giving out loans to friends which they plan to write-off as bad debt/losses from the beginning or they squander monies on private jets or on several N800 million bullet proof cars for themselves.

Nigeria is fantastically corrupt!

KingRex1:

Why would an organized institution borrow such to make losses? well yeah, there's always some level of risk involved in every investment. But i believe it's a calculated one with good investment plans. This should take a positive toll on dividend recieved in the near future.

namet:
The biggest source of revenue for Nigerian banks is to lend monies to state governments or to local government chairmen at supper high interest rates. They do this against the monthly allocations. Without these short-term loans most States would collapse totally.

The second is to finance government awarded contracts. The third is the small N50 fees that they charge your account monthly.

Rubbish. The banks are the main problem we have in this country.

namet:
This is Nigeria.

Governors borrow to steal all the time. Bank executives can borrow to steal, by either giving out loans to friends which they plan to write-off as bad debt/losses from the beginning or they squander monies on private jets or on several N800 million bullet proof cars for themselves.

Nigeria is fantastically corrupt!

Now you talk better. You talk sense

namet:
They're not celebrating the amount of money raised. Access Bank is celebrating their ability to borrow from outsiders or the willingness of banks in other countries to risk their monies with a Nigerian bank, considering the high rate of corruption, insecurity, and instability in parts of the country.

If you have an account with this bank, what you should be woried about is how the high interest rate for this loans will affect you. Will it result in unnecessary fee reduction levied on your balance?

For share holders, is it possible for the high interest rates to diminish your yearly dividend payment and return on your investment?

If Access Bank defaults on this loans, you may suffer losses on your shareholder stocks. If the bank managers use the monies raised to buy a private jet or bullet-proof Range Rover, losses will likely be reported at the end of year and shareholder losses will occur.

For depositors, your account may be charged unnecessary fees or you may lose all your cash if these loans are mismanaged and the bank shuts down.

the interest rates may not be too high tho