Heritage Bank anticipates capital from unknown investors, mulls NSE listing

Heritage Bank Plc will soon receive fresh capital injection from yet to be disclosed investors, a development that is expected to push up the bank’s capital base and by so doing, drive growth.

The bank’s Chief Executive Officer, Mr Ifie Sekibo, who disclosed this yesterday in Lagos, refused to give specific information as to when exactly the capital injection is expected to happen.

In the same vein, he declined to disclose the identity of the investors. He, however, revealed that the expected capital will specifically be used to facilitate the company’s intervention plan in the real estate sector.

Reacting further to questions from journalist, the bank chief also disclosed that Heritage Bank is definitely going to become listed on the Nigerian Stock Exchange (NSE) in no distant time.

According to him, Heritage Bank’s listing on the NSE is one of the requirements set out by their unknown and potential new investors.

He even hinted at the fact that there could be a future merger/acquisition happening between Heritage Bank and any of the Nigerian banks.

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 “I want to predict a good prediction. For that matter it would not be this year. But it would definitely be listed on the stock exchange especially because we are expecting new investors and one of their core expectations is that we would list within the nearest future, so we would list on the NSE.

“There may be mergers and acquisitions happening and I’m happy to see them. Yes, investors are coming in and they are happy with our returns and we are one of the companies that has returned good results in the financial institution space. So investors are always happy with the type of returns we make.”

Heritage Bank Plc is a commercial bank which was founded in 1989 and headquartered in Lagos. As we reported, the Heritage Bank recently disclosed its intention to focus more on retail banking in order to avail low-income earners and rural dwellers the opportunity to become financially included.

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