Home Business UBA says it makes provision on loans to 9mobile

UBA says it makes provision on loans to 9mobile

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Ngera’s United Bank for Africa (UBA) said that it had made a provision on loans made to 9mobile, the mobile operator formerly known as Etisalat Nigeria.
The lender did not give details of the provision but said it had a 38 billion naira ($125 million) exposure to 9mobile.
UBA said the exposure was secured, and part of a syndicated loan with a group of 12 other banks extended to 9mobile four years ago.

REUTERS

 

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