{"id":36631,"date":"2019-11-30T04:47:38","date_gmt":"2019-11-30T03:47:38","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=36631"},"modified":"2019-11-30T04:47:38","modified_gmt":"2019-11-30T03:47:38","slug":"economy-in-q3-2019-ecobank-standard-chartered-lead-in-capital-importation-to-nigeria","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/economy-in-q3-2019-ecobank-standard-chartered-lead-in-capital-importation-to-nigeria\/","title":{"rendered":"Economy In Q3 2019: Ecobank, Standard Chartered Lead In Capital Importation To Nigeria"},"content":{"rendered":"<p class=\"yiv0469115211MsoNormal\">National Bureau of Statistics (NBS) says Ecobank Nigeria and the local unit of Standard Chartered Bank have joined Stanbic IBTC Bank to become foreign investors\u2019 favourites for investment deals.<\/p>\n<p class=\"yiv0469115211MsoNormal\"><span lang=\"EN-US\">Details of the Bureau report showed that out of 26 banks foreign investors used to deploy foreign capital into the country, the most investment came through Stanbic IBTC Bank. The bank attracted $1.63 billion worth of investment in the third quarter of this year, lower than $1.76 billion it had in the previous quarter.<\/span><\/p>\n<p class=\"yiv0469115211MsoNormal\"><span lang=\"EN-US\">Ecobank followed with $754.38 million worth of foreign investment, while Standard Chartered Bank, a wholly-owned subsidiary of UK-based Standard Chartered Bank occupied the third position by attracting $502.47 million inflows. Access Bank got $477.55 million; Rand Merchant Bank, $430.15 million; Citibank Nigeria Limited; $350.95 million; while First Bank of Nigeria had $307.94 million.<\/span><\/p>\n<p class=\"yiv0469115211MsoNormal\"><span lang=\"EN-US\">According to NBS, while the total value of capital importation into the Nigerian economy fell by 7.78 percent to $5.36 billion in the third quarter of 2019 from the previous quarter, Ecobank Nigeria attracted $754.38 million worth of foreign investment, representing 55.41 percent more capital thus making the bank foreign investors\u2019 favourites for investment deals.<\/span><\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv0469115211MsoNormal\"><span lang=\"EN-US\">Commenting, Adetokunbo Uko, Country Treasurer, Ecobank Nigeria, said the Bank was leveraging on its pan-African strategy to attract capital to the nation\u2019s economy, stressing that the Bank remains committed to increasing capital flows to Nigerian financial market.<\/span><\/p>\n<p class=\"yiv0469115211MsoNormal\"><span lang=\"EN-US\">According to her, \u201cAs a gateway to the African market for foreign direct and portfolio investments, Ecobank Nigeria is \u00a0leveraging on its Pan-African platform, people and products to contribute to the financial and economic development of Nigeria through provisions of foreign exchange solutions and fixed income products to local and foreign customers.\u201d \u201cWe remain committed to our African strategy, to increase capital flows to Nigerian financial market through enhanced product offerings, good customer experience and transparency in all transactions\u201d<\/span><\/p>\n<p class=\"yiv0469115211MsoNormal\"><span lang=\"EN-US\">She restated the Bank\u2019s commitment \u00a0to redouble its efforts on all fronts to remain foreign investors\u2019 favourite for investment deals and also claim its rightful position in the industry.<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>National Bureau of Statistics (NBS) says Ecobank Nigeria and the local unit of Standard Chartered Bank have joined Stanbic IBTC Bank to become foreign investors\u2019 favourites for investment deals.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":12628,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[6501],"coauthors":[2391],"class_list":["post-36631","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-investment-deals"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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