Zenith Bank To Seek Approval To Raise N100bn

Zenith Bank said on Tuesday it would seek shareholder approval next month to raise N100 billion ($318 million) via a combination of share or bond sale and global depository.
The lender also said it would seek approval to increase its share capital to N40 billion from N20 billion at the shareholders’ meeting on March 22.
Zenith Bank on Monday reported a 2016 pretax profit of N156.75 billion, up from N125.62 billion a year earlier.
© Reuters News

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