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Sterling Bank Nigeria Plc Eyes Acquisitions


Yemi Adeola Sterling Bank Nigeria Plc
Yemi Adeola

The Sterling Bank Nigeria Plc is aiming to buy one or two mid-sized commercial lenders as sharp falls in the value of the naira and increased regulatory pressure are forcing banks to recapitalize, its chief financial officer reported.

Abubakar Suleiman also told news agencies that Sterling Bank Nigeria Plc expected a further 20 percent devaluation in the naira, eroding capital ratios for several of Sterling’s rivals exposed to foreign currency assets and potentially triggering mergers.


Rev Francis Waive

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