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Nigeria's GT Bank sees no need to refinance Eurobond due 2018
March 15, 2017 / 2:40 PM / 6 months ago

Nigeria's GT Bank sees no need to refinance Eurobond due 2018

LAGOS, March 15 (Reuters) - Nigeria’s Guaranty Trust Bank (GT Bank) is not looking to refinance its Eurobond due next year because it does not see opportunities to grow its dollar loan book, its chief executive said on Wednesday.

Segun Agbaje said the bank expected naira loans to grow 10 percent this year, down from 15.8 percent last year, largely due to a currency devaluation.

He said the bank expected a 168 billion naira ($550 million) pretax profit for 2017, up from 165 billion the year before. ($1 = 305.2500 naira) (Reporting by Chijioke Ohuocha; Editing by Mark Potter)

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