BANJUL May 12 Investors in Access Bank's
Gambian unit have injected over $15 million to
recapitalise and take back control of the bank after it was
briefly nationalised last week, Gambia's central bank said in a
statement on Monday.
The statement said the bank's capital had fallen below a
required minimum level of 200 million Gambian dalasis ($5.05
million), leading to its takeover on May 5.
"Following the takeover, the investors of Access Bank
(Gambia) Limited injected capital of $15.2 million to
recapitalise the bank and made a commitment to inject an
additional $4.8 million," the statement said.
Consequently, the Central Bank of the Gambia ... has decided
to return Access Bank (Gambia) Limited to their owners with
effect from Monday 12, 2014," it continued.
The statement did not specify who the investors were.
"Access Bank Gambia Limited is today one of the most
capitalized banks operating in The Gambian financial system
sector," Access Bank Nigeria said in a statement released
following the Central Bank announcement.
"We would like to reassure all customers that we continue to
operate as a responsible entity," it read.
The Gambian unit of Nigeria's Keystone Bank was also
nationalised last week.
Nigeria's central bank has barred the country's banks from
recapitalising their offshore subsidiaries with funds from home.
($1 = 39.6000 Gambian Dalasis)
(Reporting by Pap Saine; Additional reporting by Chijioke
Ohuocha in Lagos; Writing by Joe Bavier, editing by David Evans)