Financial Highlights and Growth Trends
Capital Raising Program
Q1
Q2 2013
Capital Position
Q2
Q4
Q1
'13
'13
$13
'13
14
Q2
'14
N115Bn
Tier 1:
N49.0Bn
Tier II:
N4.6Bn
Rights Issue
N12.1Bn
Private
Placement
N18.6Bn
Tier II (US$):
US$100M
(N15.5Bn)
Tier II: (NGN)
N15.5Bn
Tier I
Capital
N80Bn
Tier 11
Capital
N35Bn
Comments
The Bank plans to raise
additional capital in 2013 from
both domestic and international
sources. The capital raising
programme is phased as follows:
Phase 1 Tier I capital
•
-
This is expected to be
achieved through a Rights
Issue of US$80 million'
Private Placement of
(US$120million)
The process commenced in
Q1 2013
Phase 2 - Tier Il capital
The Bank plans to raise
subordinated debt of
N30 billion (US$200 million)
multi-currency
The process will commence
in Q3 2013 and will be
completed by Q2 2014
At the completion of the
exercise, we anticipate a
CAR of c. 20%
1 US$ = N155
Sterling Bank
The one-customer bank.View entire presentation