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Tag: Banking

ADB floats $3b bond to alleviate pains of COVID-19 in Africa

ADB floats $3b bond to alleviate pains of COVID-19 in Africa

Business
Bank urges Nigerians to make safety paramount against VirusThe African Development Bank (ADB) has raised a $3 billion bond instrument in a three-year tenure to help alleviate the impact of COVID-19 pandemic in Africa. According to ADB Group, the bond is the largest social bond ever launched in international capital markets , and the largest dollar benchmark ever issued by the bank. It will pay an interest rate of 0.75 percent. The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset managers including socially responsible investors, with bids exceeding $4.6 billion. The ADB Group is moving to provide flexible responses aimed at alleviating the severe economic and social impact of thi...
Keystone Bank Pledges N1bn in Fight against COVID-19

Keystone Bank Pledges N1bn in Fight against COVID-19

Growth & Insight
As part of effort to combat the coronavirus (COVID-19) outbreak in Nigeria, Keystone Bank has announced the donation of N1 billion for the purchase of relief materials, critical care facilities and protective gear to contain the spread of the virus. The pledge was made during the Bankers’ Committee meeting held recently to support the Central Bank of Nigeria in its bid to raise funds for the fight against coronavirus pandemic through the newly-formed Nigerian Private Sector Coalition Committee against COVID-19. In a statement at the weekend, the Acting Managing Director, Mr. Olaniran Olayinka, explained that the decision to make the pledge was part of the bank’s corporate social responsibility pillar to provide an enabling environment by improving the well-being and health of the co...
Polaris Provides 400 Beds, Others in COVID-19 Fight

Polaris Provides 400 Beds, Others in COVID-19 Fight

Finance
Polaris Bank said it has given a boost to government efforts in the fight against coronavirus (Covid-19). To this end, the bank explained in a statement at the weekend, that it has acquired 400 specialised hospital beds, complete with mattresses and accessories. The beds according to the bank would be handed over to the Lagos State Government; being the state most hit by the pandemic, the Nigeria Centre for Disease Control (NCDC) and other state governments. The Bank also announced that it would be partnering with the Nigeria Coalition Against COVID-19 (NCAC), non-governmental organisations (NGOs), Health Institutions and State Governments in stemming the tide of the COVID-19 pandemic by delivering additional materials to cover the areas of testing, isolation, treatment and train...