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First Atlantic Signs $11m US Exim Facility First Atlantic Bank Plc has finalised arrangements towards the disbursement of an S11million US Exim Bank guaranteed facility to enhance its customers� international business outlay. The facility, which was consolidated with Sofitel Capital Corporation USA, the primary lender last week, is to be applied in financing production input of United States origin for its myriad of customers. At a ceremony at the bank�s corporate head office in Lagos last week, both First Atlantic and Sofitel Capital Corporation reiterated their commitment to prompt application of the credit line to boost US-Nigeria trade and enhancement of the output of the benefiting local manufacturers. Market analysts believe that First Atlantic�s ability to consummate the US Exim backed transaction at a period of great uncertainty in the Nigerian financial market is an indication of the measure of confidence the international finance market has in the bank and the Nigerian economy. Speaking during the occasion, the leader of Sofitel Capital Corporation USA team, Ms. Jane Farnan, a director of the US bank, who was accompanied on the visit by Ryan Riggleman, Vice President (Lending Operations), said that Sofitel was encouraged to go into the transaction by First Atlantic�s commitment to client growth, adding that it was rare to find financial institutions being so deeply committed to exceptional customer service. She also acknowledged that the bank was well focused, adding that it had not only outgrown its difficulties to emerge as one of Nigeria's leading middle level banks but had also shown great growth potentials. The Managing Director of First Atlantic, Mr. Okey Nwosu used the opportunity to intimate them of the bank's plans to comply with the new minimum capital of N25 billion prescribed for banks by the Central Bank of Nigeria adding that the bank was aiming to apply a combination of merger and attraction of new capital in-flow to achieve a capital base far in excess of the prescribed minimum. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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