February 5, 2015 / 1:47 PM / in 3 years

Rushed growth at Ecobank poses serious concerns -IMF

ACCRA, Feb 5 (Reuters) - Rushed growth and poor governance at pan-African lender Ecobank poses serious concerns, the International Monetary Fund (IMF) said in a report about banks operating across African borders.

The Fund said Ecobank Nigeria’s “relatively weak capital position remains a concern” and that rapid loan growth at the bank, which is a subsidiary of Ecobank Transnational Incorporated, raises suspicion of reckless lending. (Reporting by Matthew Mpoke Bigg; Editing by Daniel Flynn)

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