Chairman Emmanuel Ikazoboh told investors the bank is yet to decide when it will restart the rights issue plans. The bank was seeking to raise at least $700 million via a rights issue to boost its capital to help strengthen its business. Ikazoboh told shareholders during the bank's annual general meeting held at the bank's headquarters in Lomé, Togo. Kenya's Treasury is seeking to raise the minimum capital for banks to Sh5 billion from Sh1 billion. Ecobank management wants to also halt expansion plans, to consolidate the bank's recent acquisitions.

Source: The Star June 21, 2016 03:22 UTC