FBN Holdings ‘not raising new capital’
The management of FBN Holdings Plc has ruled out any plan to raise new capital in the meantime as the holding group prefers to continue leveraging its balance sheet to drive growth in the immediate to short-term period. Speaking during a special interactive session with analysts and investors, the management of FBN Holdings said going to raising capital in the market is not an option. According to the holding group for First Bank of Nigeria and its former subsidiaries, although there is flexibility to go to the market to raise capital, but that is not an option now. First Bank prefers to leverage its existing tier 1 scope, capitalise earnings and deliver effectively. The group noted that the full implementation of Basel III will not affect First Bank as Basel III is more of a liquidity and leverage ratio, which is not a problem for the bank. FBN Holdings said it was expecting the Central Bank of Nigeria, which introduced the Basel III guidelines to determine the timeline for full implementation, as group continues to ensure it meets all regulatory guidelines.
FBN Holdings ‘not raising new capital’
The management of FBN Holdings Plc has ruled out any plan to raise new capital in the meantime as the holding group prefers to continue leveraging its balance sheet to drive growth in the immediate to short-term period. Speaking during a special interactive session with analysts and investors, the management of FBN Holdings said going to raising capital in the market is not an option. According to the holding group for First Bank of Nigeria and its former subsidiaries, although there is flexibility to go to the market to raise capital, but that is not an option now. First Bank prefers to leverage its existing tier 1 scope, capitalise earnings and deliver effectively. The group noted that the full implementation of Basel III will not affect First Bank as Basel III is more of a liquidity and leverage ratio, which is not a problem for the bank. FBN Holdings said it was expecting the Central Bank of Nigeria, which introduced the Basel III guidelines to determine the timeline for full implementation, as group continues to ensure it meets all regulatory guidelines.