Ecobank Transnational Incorporated (ETI), the parent of the Ecobank Group, on Monday, informed stakeholders through the Nigerian Stock Exchange (NSE) that one of its significant subsidiaries, Ecobank Nigeria, secured N50bn, 10-Year bilateral subordinated loan.

The bilateral funding, according to a terse statement by Adenike Laoye, Group Head, Corporate Communications, “provides stable medium-term liquidity to the balance sheet of Ecobank Nigeria.”

The statement was however silent on the source of the loan, which it said is to “positively improve its balance sheet ratios, especially the capital adequacy ratio by circa 300 basis points.” The transaction proceeds would be deployed to support operators in the Micro, Small and Medium Scale Enterprises (MSMEs), as well as Small Corporates.