7UP 53.00 0.00    ABCTRANS 0.90 0.00    ACADEMY 2.26 -0.19    ACCESS 10.96 -0.09    AFRIPRUD 1.76 -0.14    AGLEVENT 1.55 0.00    AIICO 0.96 0.00    AIRSERVICE 4.80 -0.10    ALEX 10.55 0.00    ASHAKACEM 26.50 1.00    BERGER 11.38 0.00    BETAGLAS 10.00 0.00    CADBURY 55.00 0.00    CAP 59.89 0.00    CCNN 10.75 0.00    CHELLARAM 4.89 0.00    CILEASING 0.50 0.00    CONOIL 23.00 0.00    CONTINSURE 1.19 0.05    COSTAIN 1.58 0.12    COURTVILLE 0.80 -0.04    CUSTODYINS 1.53 -0.05    CUTIX 2.26 0.01    DANGCEM 195.00 -4.00    DANGFLOUR 9.50 -0.24    DANGSUGAR 10.98 0.01    DIAMONDBNK 6.49 -0.01    DNMEYER 1.44 -0.01    DUNLOP 0.50 0.00    EKOCORP 4.32 0.00    ETERNA 3.42 0.00    ETI 15.20 0.35    ETRANZACT 3.47 0.00    EVANSMED 3.00 -0.30    FBNH 18.55 0.05    FCMB 4.75 -0.15    FG9B2017S2 106.40 -0.60    FG9B2019S3 112.05 0.30    FG9B2022S1 117.20 -0.55    FIDELITYBK 3.10 0.00    FIDSON 2.39 0.18    FLOURMILL 93.60 0.00    FO 17.02 0.01    FTNCOCOA 0.50 0.00    GLAXOSMITH 67.98 0.00    GNI 0.50 -0.10    GUARANTY 26.00 1.03    GUINNESS 260.00 0.90    HONYFLOUR 3.43 0.01    IKEJAHOTEL 0.83 -0.01    INTBREW 25.98 -0.02    INTERLINK 4.90 0.00    IPWA 0.68 0.00    JAPAULOIL 0.53 -0.01    JBERGER 60.90 0.00    JOHNHOLT 1.43 -0.15    JOSBREW 1.20 -0.05    JULI 1.93 -0.21    LEARNAFRCA 1.70 -0.08    LIVESTOCK 5.44 0.49    MANSARD 2.33 0.03    MAYBAKER 2.34 -0.26    MBENEFIT 0.50 0.00    MCNICHOLS 1.75 -0.14    MOBIL 119.00 0.00    MORISON 2.01 0.00    MRS 17.80 0.00    MULTITREX 0.50 -0.01    NAHCO 6.42 -0.30    NASCON 12.80 -0.05    NB 154.66 4.46    NCR 18.70 0.00    NEIMETH 1.34 -0.14    NEM 0.80 0.00    NESTLE 991.00 -2.00    NEWGOLD 2140.00 -2.00    NIG-GERMAN 8.17 0.00    NIGERINS 0.50 0.00    NIGROPES 7.85 0.00    NPFMCRFBK 1.08 0.00    OANDO 13.19 -0.31    OKOMUOIL 47.88 -0.12    PAINTCOM 1.79 0.14    PORTPAINT 4.70 0.35    PREMBREW 0.68 0.00    PRESCO 37.98 0.03    PRESTIGE 0.55 0.05    PZ 45.15 0.70    REDSTAREX 5.00 0.35    REGALINS 0.50 0.00    RTBRISCOE 1.69 0.03    SKYEBANK 4.80 0.10    SKYESHELT 100.00 0.00    SOVRENINS 0.50 0.00    STANBIC 16.05 0.24    STERLNBANK 2.55 0.07    TOTAL 169.90 4.90    TRANSCORP 1.14 -0.01    TRANSEXPR 2.51 -0.27    TRIPPLEG 2.29 0.00    UAC-PROP 14.91 0.00    UACN 58.00 0.95    UBA 8.68 0.18    UBCAP 1.20 -0.04    UBN 13.03 0.00    UNIC 0.50 0.00    UNILEVER 64.80 4.80    UNIONDAC 0.50 0.00    UNITYBNK 0.64 -0.02    UPL 5.60 0.00    UTC 0.70 0.00    VITAFOAM 4.36 0.01    WAPCO 91.00 0.00    WAPIC 0.85 -0.08    WEMABANK 1.12 -0.01    ZENITHBANK 21.11 0.21   

Events

Mainstreet Bank Hit Market With Positive Shareholders Fund

 

The Injection of N285 billion into the operations of Mainstreet Bank Limited (MBL) has put the Shareholders’ Funds of the bank into positive position. 
With this, Mainstreet Bank now post capital adequacy ration that is well above regulatory requirement of ten percent and has become one of the most capitalized banks in the country.
The current capital adequacy position of MBL has positioned it to compete with similar institutions and in a good position to grow quality risk assets and support the real sector of the economy.
The fully recapitalized MBL had on Tuesday demonstrated its financial strength by repaying the N50 billion Tier-Two capital obtained by the former Afribank Nigeria Plc on August 14, 2009.
The bank is also in good stead to implement its business growth plan, facilitate better banking operations and improved service delivery across all its branches. The enhanced liquidity position of MBL will aid its business drive as it will enable it to generate more businesses such as financing big ticket transactions and consequently generate increased revenues.
The former Afribank Nigeria Plc, which Mainstreet Bank took over all its deposits and certain other liabilities and assets since August 5, 2011, was operating with negative Shareholders Funds.
 -  Culled from Businessday, August 11, 2011 Pg.5.