Institution to generate fresh capital in first quarter of 2016

ayodele johnson

January 22, 2016 12:06 AM

The bank recently acquired and successfully completed the integration of Mainstream Bank

Skye Bank

To secure its capital base and working capital, SKYE Bank Plc has laid down plans to generate fresh capital in the first quarter of 2016.

The financial institution, which only recently acquired and successfully completed the integration of Mainstream Bank aims to diversify by shifting its spotlight to retail and commercial banking.

This was revealed by Mr. Timothy Oguntayo, Group Managing Director/Chief Executive Officer of the Bank in an interaction with top stockbrokers in Lagos.

READ: Skye Bank grants N450bn loans to energy firms

According to him, the bank had entered into discussions with some of its key shareholders and strategic potential investors for new capital investment, expressing belief that the exercise would be completed by the first quarter of the year.

He added that retail banking as the new focus of the bank would be pursued in 2016 for more result. Making special reference to the power small and medium scale businesses would have acquired.

ayodele johnson

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