Nigerian banks raise US$2b from global deposit receipts


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Nigerian banks raise US$2b from global deposit receipts

A total of US$2.05 billion was last year raised from global deposit receipts (GDR) offering by Nigerian banks, a development described by experts as a rapid start in a new market. Nigeria’s BusinessDay Newspaper reported Friday that though the country’s GDR offering, carried out in six deals, represented only 13.66 per cent of the total of US$1.5 trillion raised globally from GDR in 2007, experts still consider it satisfactory. Commenting on the development, head of global Equity Services, Deutche Bank, Alex Hickson, described Nigeria’s performance as ‘quite satisfactory, being a new market’. The report however did not disclosed the six banks involved. Hickson spoke in Nigeria’s commercial city of Lagos, during an international conference on Equity and Debt Capital Market financing opportunities, organised by one of Nigeria’s leading financial Institutions, Access Bank Plc. Panapress

International  International news in general
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