{"id":12549,"date":"2012-07-19T00:59:44","date_gmt":"2012-07-18T22:59:44","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/refile-nigerias-uba-given-go-ahead-to-restructure\/"},"modified":"2012-07-19T00:59:44","modified_gmt":"2012-07-18T22:59:44","slug":"refile-nigerias-uba-given-go-ahead-to-restructure","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/refile-nigerias-uba-given-go-ahead-to-restructure\/","title":{"rendered":"REFILE-Nigeria&#8217;s UBA given go-ahead to restructure"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Fixes typo in headline)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LAGOS, July 18<\/span> (Reuters) &#8211; Nigeria&#8217;s United Bank for Africa<br \/>\nsaid on Wednesday it had received approval from the central bank<br \/>\nto transfer its subsidiaries into a newly-formed holding<br \/>\ncompany, in line with regulatory requirements to separate core<br \/>\nlending from other businesses.<\/p>\n<p><span><\/span><\/p>\n<p>The central bank two years ago scrapped the universal<br \/>\nbanking model and directed lenders in Africa&#8217;s second biggest<br \/>\neconomy to sell their stakes in non-banking subsidiaries or<br \/>\nadopt a holding company structure.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We have received approval from the central bank to operate<br \/>\na holding company structure. We are working on the scheme<br \/>\ndocument and we intend to finalise the structure by the end of<br \/>\nthe year,&#8221; Chief Financial Officer Ugo Nwaghodoh told an<br \/>\ninvestor conference call.<\/p>\n<p><span><\/span><\/p>\n<p>UBA&#8217;s announcement follows Stanbic IBTC Bank the<br \/>\nlocal unit of South Africa&#8217;s Standard Bank who last<br \/>\nweek said it will seek approval from shareholders to form a<br \/>\nholding company next month.<\/p>\n<p><span><\/span><\/p>\n<p>The UBA banking group currently operates in 19 African<br \/>\ncountries with interest in real estate and asset management.<\/p>\n<p> (Reporting by Chijioke Ohuocha; Editing by Elaine Hardcastle)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Fixes typo in headline) LAGOS, July 18 (Reuters) &#8211; Nigeria&#8217;s United Bank for Africa said on Wednesday it had received approval from the central bank to transfer its subsidiaries into a newly-formed holding company, in line with regulatory requirements to separate core lending from other businesses. The central bank two years ago scrapped the universal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12549","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12549"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}