Greenwich Merchant Bank Hits N50bn Recapitalization Milestone, Boosts Investor Confidence
Greenwich Merchant Bank has achieved a major milestone by meeting the N50 billion minimum capital requirement set by the Central Bank of Nigeria. Founded in 1992 as Greenwich Trust Limited, the institution has transitioned into a full-fledged merchant bank in 2020, operating across various sectors including corporate banking, investment banking, treasury, asset management, and securities trading.
The successful recapitalization through a private placement raised N22.6 billion in new equity, strengthening the bank's capital base. This move is aimed at bolstering capital adequacy in line with CBN directives and signifies Greenwich's commitment to long-term value creation and economic stability in Nigeria.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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