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EIB Braces up for New Capital EIB International Bank Plc has initiated steps, which could forge a strategic alliance with other banks in a bid to meet the new capital requirement of N25billion and remain an active player in the banking industry. Clarifying the bank's position on this issue, the Executive Director, Mr Gbenga Ademulegun said that the board and management of EIB were carefully considering the various options available with a view to adopting a position that would be in the interest of all its stakeholders. According to Ademulegun, 'the board and management of the bank is already taking proactive steps by looking at the various options for recapitalisation, while at the same time exploring possible alliances, acquisition and/or mergers'. At the moment, he said, it was difficult for any bank to adopt a definite position because the Central Bank of Nigeria [CBN] was yet to issue guidelines on the new capital requirement. The Executive Director however reiterated that despite the situation EIB had taken the initiative and begun talks with other banks that share its deals of providing customized services with a view to increasing its market share. To allay fears relating to the capability of EIB to remain relevant in the new dispensation, Ademulegun reminded all EIB's stakeholders that the bank, which is quoted on the Nigerian Stock Exchange, has now repositioned to fully exploit the invaluable public confidence which has sharpened it profit profile. He strongly assured; 'no matter what happens, the bank will continue to extst in the new dispensation, after December 2005'; judging by the tremenous patronage it has enjoyed from all stakeholders over the time. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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