Sterling Bank To Raise $320m Fresh Capital

Sterling Bank Plc recently
disclosed plans to seek shareholders’ approval on November 11, 2014, to raise up to $200 million in debt or equity.
The mid-tier bank also said it would issue up to N19.8billion ($120.3million) worth of shares to a strategic investor via a private placement at N265 per share.
Meanwhile, Sterling Bank has announced the deployment of additional ATM points nationwide, thereby increasing its footprints at existing and new locations.
The bank said that additional ATMs would be added to existing branches while ATM galleries would be put in place in strategic locations nationwide.
Sterling Bank’s Group Head, Strategy and Communications, Mr Shina Atilolar explained that the bank has commenced aggressive roll out of ATMs nationwide.
“We have almost doubled our ATM count between December last year and September 2014. We started the year with 300 ATMs but aim to close the year with about 1000. This would involve additional deployments at existing locations, partner locations and ATM galleries.”
“As a financial institution poised to enrich lives, Sterling Bank will continue to maintain high quality ATM services by supporting the inter-operability of the payment system in the country. We will continue to deploy more ATMs to promote the cashless policy of the Central Bank of Nigeria (CBN) and ensure that our customers are not at disadvantage in any way,” he added.