Access
Bank has been meeting with domestic investors over the past week to gauge
interest in a possible rights issue of 60-70 billion naira ($369-$431 million)
by the fourth quarter, a fund manager and a banking source with knowledge of
the roadshow, said on Thursday.
The
lender, which raised a $400 million in Eurobond in June, wants to bolster its
core capital, the fund manager who attended the meetings in Lagos told Reuters,
declining to be named. Access Bank was also discussing with investors in Abuja.
An
official from Access Bank declined to comment.
Banks
in Africa’s biggest economy have been boosting their capital levels in recent
months, as the industry this year adopts new
