News Column

Unity Bank Plans to Raise N40 Billion

May 19, 2014

Francis Arinze Iloani

Unity Bank's Executive Director of retail banking, Ahmed Yusuf, has disclosed that the bank would raise N40 billion to strengthen its activities, increase customers' confidence and improve service delivery.

Disclosing this during a courtesy visit to Media Trust Limited, publishers of Daily Trust newspaper in Abuja, Yusuf said the bank was seeking the approval of the Security and Exchange Commission (SEC) to raise the money through right issue.

"Unity Bank is about to do some right issue to increase our capital base and this will improve our new business franchise," said Yusuf.

Commending members of the delegation for the visit,the Media Trust Chairman and Chief Executive Officer of Malam Kabiru Yusuf, said he was delighted with the changes taking place in the bank, hoping for improved relationship between the two organisations.

Speaking separately, the General Manager, Management and Services of Media Trust, Shehu Olaitan and Assistant General Manager, Finance, Malam Nura Daura, urged the bank to improve its service delivery in order to attract customers, saying that banking is now very competitive.

As part of improving its service delivery, the head of the delegation, Yusuf said the bank has appointed new group heads of operation for north and south and a new head of IT and operation.

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Source: AllAfrica

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