Sterling Bank PLC has received a line of credit from an Arab Bank for Economic development in Africa (BADEA)
The credit facilities were granted through two loan agreements, signed on Monday 18th February, 2019 in Cairo Egypt.
The Director General of BADEA, H.E Dr. Sidi Ould TAH signed the loan agreement on behalf of BADEA while Mr. Yemi Odubiyi, Exercutive Director Corporate and Investment Banking signed on behalf of Sterling Bank.
The first line of credit which amount to about N5.43bn is for financing private sector projects while the second facility which amount to about N18.1bn is for financing Arab export to African importers, as part of BADEA’s programme for financing foreign trades.
This was made available to the shareholders, stakeholders and general public on the 20th February, 2019 by Justina Lewa , the company secretary and & chief Legal Counsel of Sterling Bank through corporate disclosure of the Nigerian Stock Exchange (NSE)