Investrust Bank Plc – Capital Raise

[LesCrozes]

Investrust Bank Plc – Capital Raise Investrust Bank Plc (“Investrust”) announced on Friday 27 May 2011 that it seeks to issue new ordinary shares to raise up to ZMK 31 billion (Thirty One Billion Zambian Kwacha) by way of a Renounceable Rights Offer. The Offer closes – Friday 15th July 2011. Offer Price – ZMK 16
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Fund the cost of opening additional branches in new locations to extend the distribution network across Zambia and strengthen the deposit mobilization programme of the bank;
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Fund the cost of installing additional ATMs and Switch;

- Increase the capital base of the Bank;
- On lend the funds to grow and increase the loan book ; and
- Extend the maturity profile of the loan book from short to medium term.

The funds raised from the Rights Offer will therefore go towards strengthening the bank’s balance sheet to enable it to underwrite more business as well as enhance its service delivery channels, thereby providing a strong platform for future growth.


Investrust Bank Plc – Q1 2011 Results

Investrust’s net interest and other income rose +9.9% year-on-year to ZMK 22,120 mn. Profit-before-tax rose +21% year-on-year to ZMK 2,634 mn.