Skye Bank Lends $500m to Maritime Operators

Skye Bank office

Nume Horsfall
As part of its commitment to the development of the Nigerian maritime industry, Skye Bank Plc yesterday disclosed that it had granted credit facilities amounting to $500 million to operators in the industry in recent times.

The amount represented funds provided to indigenous ship owners and other stakeholders for the acquisition of ships and other critical work tools to enable them play very active roles in the industry.

A statement quoted the bank’s General Manager in charge of the Corporate Banking for the Maritime and Aviation sector, Mr. Segun Opeke, to have disclosed this at a recent forum of maritime stakeholders, noting that the bank was prepared to expand its credit lines to the operators to further develop the industry.

According to him, the bank was responsible for the provision of credit facilities to indigenous shipowners for the acquisition of an estimated 50 per cent of the entire indigenous fleet in the country.

“Many operators attest to the bank’s influence on the development of the industry, particularly in the participation of indigenous shipping companies in general cargo business and oil movement in the coastal areas.

“Skye Bank has been widely acknowledged by maritime operators for its pioneering role in maritime financing and has won many awards in this regard,” he added.