Shareholders of Union Bank Plc have approved the resolution of the Board of Directors to raise $750 million through the issuance of debt instruments, tenured bond or Teir 2 securities or a combination of these financing options.
This information was made available by the CEO of Union Bank, Mr. Emeka Emuwa at the Bank’s 45th Annual General Meeting held in Lagos on Tuesday.
“We are repositioning our business to reflect a more balanced retail, commercial and corporate banking with a view to making financial inclusion in Nigeria.”
“We have begun our branch optimisation work and expect that by the end of 2014, more than 60 branches, in prioritised locations, will be either refit, relocated or upgraded to serve our customers adequately,” he said.
He added: “We plan to double our ATM footprint and enhance our customer experience at all touch points.”