E-Financial
Ecobank to Raise $300m from International Debt Market
Ecobank Transnational Incorporated (ETI) has disclosed plan to raise $300 million senior notes from the international debt capital market.
The group revealed this in a notification to the Nigerian Stock Exchange (NSE) last Friday. According to the group, the funds would be raised by its key subsidiary, Ecobank Nigeria Limited and the transaction is pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation S.
ETI explained that the proceeds of the Eurobond would provide medium term funding and help to enhance the capacity of the bank to support international trade and service in Africa.
“Further, the Notes, which will be issued through a Dutch special purposes funding vehicle, will be listed on the London Stock Exchange. In view of the foregoing, ETI is pleased to notify the Nigerian Stock Exchange and the investing public of the proposed launch of the Notes by the bank.
“The bank intends to list the Notes on the London Stock Exchange, with the expectation that the Notes will be traded on its regulated market,” it said.
The group disclosed that the Central Bank of Nigeria (CBN) has confirmed that it has no objection to the transaction, adding that the transaction is subject to prevailing market conditions and the conclusion of the necessary documentation.
Ecobank Group recorded revenue of over N630 billion for the year ended December 31, 2020, representing a growth of seven per cent when compared to N586.9 posted in 2019. Also, value of its total assets now stood at N10.2 trillion after a 19 per cent rise above N8.591 trillion.
The bank also recorded improved performance in other key financial indices despite the harsh operating environment with deposits from customers went up 23 per cent to N7.3 trillion from N5.9 trillion; loans and advances to customers grew by nine per cent to N3.7 trillion, from N3.4 trillion.
However, despite the bank’s good showing in deposits from customers and revenue, profits was impacted by the provisioning for goodwill of about N60 billion for the acquisition of Oceanic Bank in 2011. Consequently, the bank ended with profit before tax and goodwill impairment closed at N126.4 billion, while profit after tax stood at N35.9 billion.
Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.
Kuda Bank
The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.
Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.
Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”
By Mathew Anthony, Market Analyst at FXTM
In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.
FXTM Logo
With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.
Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.
Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.
This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.
Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.
CBN
Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.
Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.
The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.
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