Qatar National Bank buys more stakes in Ecobank

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Qatar National Bank has acquired additional 11 percent in the pan-African lender, Ecobank Transnational Incorporated. QNB said in a statement released on Monday that the deal was worth $283 million.

QNB acquired 2.048 billion ordinary shares using its existing resources to take its total holding in the bank to 23.5 percent, the statement said.

Monday’s purchase comes after it acquired a 12.5 percent stake in Ecobank from Nigerian bad bank Asset Management Company of Nigeria (AMCON) this month.

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