Subscribe to the Stock Markets Review newsletter and receive latest stock markets news, price targets and recommendations, information about latest IPOs.
| News & Aanalysis | Price Targets & Recommendations | Companies List | Message Board | Newsletter |
|
News
>>
Other Countries
>> African Bank Investments Limited
African Bank Investments Ltd makes bid for Ellerines 22 August 2007
African Bank Investments Limited, together with its subsidiaries, underwrites unsecured credit risk through provision of personal loans in South Africa. It provides unsecured credit products, and credit life insurance products to domestic middle market. The bank believes that the credit furniture retail market offers attractive growth opportunities, and that Ellerines offers a strong strategic fit to pursue these strategies. “It is ABIL’s intention to continue to grow its business to significant scale so that it can further lower the cost of credit to its clients and accelerate the innovation of new credit products and risk underwriting models to be a frontrunner in the changing landscape of the credit markets”, ABIL representatives said. Ellerines said the deal was the “perfect opportunity” to move on its strategy of expanding its range of credit offerings as well as stemming the loss of retail credit customers. On Tuesday, ABIL shares raised 1.8 percent to close at 30 rand. Analysts at Irwin Jacobs Greene Securities (Namibia’s leading financial services boutiques) maintain their “buy” rating on African Bank Investment Limited. |
|
