SunTrust Bank exceeds $50 billion recapitalization target after successful private placement
SunTrust Bank Nigeria Limited has surpassed the ₦50 billion recapitalization benchmark following the completion of its private placement exercise.
Industry sources indicate that the bank's total paid-up capital now stands at about ₦51.1 billion, which is above the regulatory minimum limit. The capital was raised through a structured private placement program involving a combination of institutional and private investors.
The capital target was met before the deadline of March 31, 2026.
Market observers say the successful capital raise strengthens the bank's capital base and positions it more firmly in the evolving regulatory landscape of Nigeria's banking sector.
With the recapitalization threshold now crossed, the focus is expected to shift towards operational execution and growth strategy.
