Acleda Raises Capital by Nearly 30 Percent
Acleda Bank has raised its bank capital—the amount of money it has available for expenditure—by 28 percent to $113.16 million, the bank announced in a statement on Friday. In Channy, CEO of Acleda, said yesterday the extra capital would be used to increase its loan portfolio as well as build more branches in the provinces. “The idea is to give more access to banks for those who sometimes have to travel more than half an hour to the branches,” he said, adding that the bank would add 18 new branches to its existing 235 in several provinces across the country by the end of the year. …
