In Nigeria Fidelity Bank raises N30bn to boost lending to SME

In order to achieve this, the bank is set to offer N30 billion worth of seven year bonds at interest rate of 16.48 percent to the to the investing public.

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Chief Executive Officer of Fidelity Bank, Nnamdi-Okonkwo play

Chief Executive Officer of Fidelity Bank, Nnamdi-Okonkwo

(National Mirror)
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Fidelity Bank has begun taking steps to raise N30 billion for the purpose of increasing lending to Small and Medium Enterprises (SMEs).

In order to achieve this, the bank is set to offer N30 billion worth of seven year bonds at interest rate of 16.48 percent to the to the investing public.

Applications for the bonds will commence and also close on Thursday, May 14, 2015.

According to the bank’s Chairman, Christopher Ezeh the bonds are being offered in order to fund the long term financial activities of the bank, especially in the Small and Medium sector of the economy. 

He said further that the bonds are fully and firmly underwritten.

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