Nigeria FBN Holdings sees no need to raise equity after loan loss

FBN Holdings

Wed Apr 27, 2016/Reuters

Nigeria’s biggest banking group FBN Holdings has no need to tap equity markets after an unexpected 119 billion naira ($600 mln) loan loss provision last year but will keep loan growth flat to boost capital, its CEO said on Wednesday.

CEO Urum Kalu Eke said the bank was overhauling its credit model to avoid future loan losses and will diversify towards retail customers.

(Reporting by Chijioke Ohuocha, editing by Louise Heavens)

 

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