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Skye Bank's lending to maritime operators hits $500m

By The Citizen
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SKYE Bank Plc said that it had granted credit facilities to the tune of $500 million to operators in the nation's maritime sector, as part of its commitment to the development of the industry and the country at large.

The total facility, it said, was part of money provided to indigenous ship owners and stakeholders for the acquisition of ships and other critical work tools to enable them play very active roles in the industry.

The bank's General Manager, Corporate Banking 11 Group, who is responsible for the maritime and aviation sectors, Segun Opeke, disclosed this at a forum, noting that the bank was prepared to expand its credit lines to the operators to further develop the industry.

According to him, the bank was responsible for the provision of credit facilities to indigenous ship owners for the acquisition of an estimated 50 per cent of the entire indigenous fleet in the country.

'Many operators attest to the bank's influence on the development of the industry, particularly in the participation of indigenous shipping companies, general cargo business and oil movement in the coastal areas.

'Skye Bank has been widely acknowledged by maritime operators for its pioneering role in maritime financing and has won many awards in this regard,' he said.