FMO has arranged a $75m subordinated term loan providing Tier II capital to Ecobank Nigeria.

Apart from its own $30m, FMO catalyzed funding from the lenders and participants: German DFI-DEG ($20 mln), Amethis Africa Finance ($15$) and Swedfund ($10m).

The 7-year subordinated syndicated loan will have a strong multiplier effect on the growth of Ecobank’s loan portfolio and enable much needed private sector development in the largest economy of Sub-Saharan Africa.

Ecobank is a full-service commercial bank with a large and competitive capacity in retail banking.

The bank is one of the 8 systemically important banks in Nigeria.

It currently has the second largest branch network in the Nigerian banking industry.

In addition to its Corporate Bank business, Ecobank focuses on local corporates and SMEs, thereby supporting and creating jobs in the Nigerian economy.

Jibril Aku, Managing Director of Ecobank Nigeria, said: “Ecobank is pleased to have worked with FMO in raising additional Tier II capital. With this transaction, we can further support our SME clients in growing this most important and critical sector in Nigeria.”