Date: = 09/10/2007 ||  7UP = 44.81 ||  ABCTRANS = 2.89 ||  ACADEMY = 5.5 ||  ACCESS = 21.5 ||  ADSWITCH = 3.46 ||  AFPRINT = 2.75 ||  AFRIBANK = 30.49 ||  AFROIL = 5.76 ||  AFRPAINTS = 1.01 ||  AGLEVENT = 3.13 ||  AIICO = 3.22 ||  AIRSERVICE = 18.5 ||  ALEX = 2.56 ||  ALUMACO = 2.65 ||  AP = 79.8 ||  ARBICO = 2.5 ||  ASHAKACEM = 50.5 ||  AVONCROWN = 4.23 ||  BAICO = 2.42 ||  BCC = 43.5 ||  BCN = 0.9 ||  BERGER = 7.02 ||  BETAGLAS = 16.5 ||  BOCGAS = 7.91 ||  CADBURY = 32.7 ||  CAP = 43.35 ||  CAPALBETO = 37.27 ||  CAPOIL = 0.81 ||  CCNN = 17.5 ||  CHELLARAM = 4.35 ||  CHEVRON = 145 ||  CILEASING = 5 ||  CONOIL = 53 ||  CONTINSURE = 3.04 ||  CORNERST = 3.52 ||  COSTAIN = 20 ||  CRUSADER = 4.28 ||  CUSTODYINS = 3.16 ||  CUTIX = 21 ||  DANGSUGAR = 35.5 ||  DIAMONDBNK = 17.15 ||  DNMEYER = 8.7 ||  DUNLOP = 2.99 ||  ECOBANK = 8.88 ||  EKOCORP = 7.49 ||  ELLAHLAKES = 2.92 ||  EPICDYNAM = 0.38 ||  EQUITYASUR = 1.79 ||  ETERNAOIL = 17 ||  ETI = 173.25 ||  EVANSMED = 7.25 ||  FCMB = 17.45 ||  FIDELITYBK = 11.99 ||  FIRSTALUM = 2.02 ||  FIRSTBANK = 40.5 ||  FIRSTINLND = 10.6 ||  FLOURMILL = 77.99 ||  FOOTWEAR = 2.26 ||  GLAXOSMITH = 17.11 ||  GNI = 3.8 ||  GUARANTY = 29 ||  GUINEAINS = 1.94 ||  GUINNESS = 126 ||  IBTC = 14.3 ||  IKEJAHOTEL = 7.14 ||  INTENEGINS = 2.44 ||  INTERCONT = 26 ||  INTERLINK = 1.8 ||  IPWA = 3.4 ||  JAPAULOIL = 6.02 ||  JBERGER = 57.29 ||  JOHNHOLT = 3.8 ||  JULI = 0.68 ||  LASACO = 2.89 ||  LAWUNION = 3.17 ||  LINKASSURE = 2.55 ||  LIVESTOCK = 2.99 ||  LONGMAN = 13 ||  MAYBAKER = 10.89 ||  MBENEFIT = 3.1 ||  MOBIL = 158.98 ||  NAHCO = 22.81 ||  NAMPAK = 8.37 ||  NASCON = 16.9 ||  NB = 43.6 ||  NBC = 54.5 ||  NCR = 4.2 ||  NEIMETH = 3.67 ||  NEM = 2.84 ||  NESTLE = 210 ||  NIG-GERMAN = 16.7 ||  NIGERINS = 4 ||  NIWICABLE = 3.3 ||  OANDO = 76.5 ||  OASISINS = 2.02 ||  OCEANIC = 33 ||  OKITIPUPA = 1.95 ||  OKOMUOIL = 27 ||  PHARMDEKO = 5.15 ||  PLATINUM = 30.27 ||  PREMPAINTS = 1.11 ||  PRESCO = 9.5 ||  PRESTIGE = 6.3 ||  PZ = 23 ||  RAKUNITY = 0.31 ||  ROYALEX = 3.89 ||  RTBRISCOE = 27.99 ||  SCOA = 2.59 ||  SKYEBANK = 14.6 ||  SOVRENINS = 3 ||  STACO = 2.57 ||  STDINSURE = 3.87 ||  STERLNBANK = 7.55 ||  THOMASWY = 3.6 ||  TOTAL = 153 ||  TOURIST = 2.81 ||  TRANSCORP = 4 ||  TRANSEXPR = 0.78 ||  TRIPPLEG = 5.2 ||  UAC-PROP = 22 ||  UACN = 38.63 ||  UBA = 53.08 ||  UBN = 42.91 ||  UNHOMES = 6 ||  UNIC = 3.15 ||  UNILEVER = 17.01 ||  UNIONDICON = 8.56 ||  UNITYBNK = 5.8 ||  UNTL = 2.8 || 
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News
Date Posted: 24-05-2007 09:30:55
ECOBANK SIGNS N400BN MERGER WITH UNITY BANK
EcoBank & Unity
The Managements of ECOBANK Nigeria PLC and Unity Bank PLC have signed a Memorandum of Understanding combining the Assets of both banks. The merger which is the First of its kind after the Government induced banking consolidation will see a New entity with an Asset base of N400bn emerge.



The merger is expected to be completed in three months will produce an expected branch network of 340 Business around the country.



It is our view that given the spate of banks raising Funds from the Capital market and expected merger and acquisition activities, the Nigerian banking Sector may be undergoing another phase of transformation-market-induced consolidation.
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