Home   >   Business   >   Business News   >   201204
UT Bank to give 20% of IFC’s $15m as interest   
  << Prev  |  Next >>
Comments ( 0 )     Email    Print
Related Stories
UT Bank is expected to cough up at least 20 percent of IFC’s $15 million capital injection into the bank as interest.

The International Financial Corporation (IFC) earlier invested $15 million to help UT meet the Bank of Ghana’s recapitalisation requirement.

The additional $15 million involves a $5 million Senior Loan and a $10 million Trade Finance Guarantee Facility.

It is unclear yet the duration within which the bank has to repay the money, but according to IFC, it is optimistic it will make good returns on its investment.

IFC’s Vice President for Latin America and the Caribbean, Sub-Saharan Africa, and Western Europe, Thierry Tanoh, said he is also hopeful other banks could benefit from IFC’s support subsequently.
Source: Citifmonline.com

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video