Skye Bank seeks 15% loan growth, fresh capital

Nigerian lender Skye Bank aims to target retail and business customers this year to expand loans by 15 percent, up from 2 percent growth last year, incoming chief executive Timothy Oguntayo said yesterday.

“Liquidity was a major constraint to growth in risk assets in 2013,” Oguntayo said on an analyst conference call, adding that the mid-tier lender was looking to balance its deposits mix. Oguntayo said the bank plans to raise $100 million in tier II debt and 30 billion naira in equity between the second and third quarters of 2014.