Stanbic IBTC Holdings, commonly referred to as Stanbic IBTC, is a financial service holding company in Nigeria with subsidiaries in Banking, Stock Brokerage, Investment Advisory, Asset Management, Investor Services, Pension Management, Trustees, Insurance Brokerage and life Insurance businesses. The company's newly opened corporate headquarters, Stanbic IBTC Towers, is situated at Walter Carrington Crescent,

Victoria Island Victoria Island () is a large island in the Arctic Archipelago that straddles the boundary between Nunavut and the Northwest Territories of Canada. It is the eighth-largest island in the world, and at in area, it is Canada's second-largest i ...

Lagos Lagos ( ; ), or Lagos City, is a large metropolitan city in southwestern Nigeria. With an upper population estimated above 21 million dwellers, it is the largest city in Nigeria, the most populous urban area on the African continent, and on ...

. Stanbic IBTC Holdings is a member of the

Standard Bank Group Standard Bank (officially Standard Bank Group Limited) is the largest bank in Africa, as well as the continent's biggest lender by assets. The company's corporate headquarters, Standard Bank Centre, is located in Johannesburg, Gauteng. The ...

, a financial services giant based in

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

. Standard Bank is Africa's largest banking group ranked by assets and earnings, operations in 20

Africa Africa is the world's second-largest and second-most populous continent after Asia. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 20% of Earth's land area and 6% of its total surfac ...

n countries and 13 countries outside Africa.

Overview

Stanbic IBTC Holdings PLC. came alive as the result of a merger between Stanbic Bank Nigeria Limited and IBTC Chartered Bank Plc. in 2007, then adopting a holding company structure in 2012 to comply with the revised regulatory framework advised by the Central Bank of Nigeria (CBN), requiring banks to either divest from non-core banking financial services or adopt a holdings’ company structure.

Before the merger

IBTC Chartered Bank Plc.

Investment Banking & Trust Company Plc (IBTC) was formed as an investment bank on 2 February 1989 with Atedo N.A. Peterside as the

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

and A. Olawale Edun as an executive director. In 2005, the

Central Bank of Nigeria The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are t ...

announced its re-capitalization program for commercial banks. This meant that all commercial banks had to have a NGN 25 billion minimum capital base. This CBN order led to the merger of Investment Banking and Trust Company (IBTC) with Chartered Bank Plc and Regent Bank Plc on 19 December 2005 to form IBTC Chartered Bank Plc with a total asset base NGN 125 billion and listed on the

Nigerian Stock Exchange The Nigerian Stock Exchange (NGX), now Nigerian Exchange Group, is an integrated stock exchange group in Africa founded in 1961 in Lagos. Following the demutualization of the NSE in 2021, NGX Group now has 3 subsidiaries - Nigerian Exchange Limit ...

Stanbic Bank Nigeria Limited

Stanbic Bank Nigeria Limited was founded in 1991 when Standard Bank Investment Corporation (

Stanbic Bank Standard Bank (officially Standard Bank Group Limited) is the largest bank in Africa, as well as the continent's biggest lender by assets. The company's corporate headquarters, Standard Bank Centre, is located in Johannesburg, Gauteng. The ...

), acquired the African operations of

ANZ Grindlays Bank The historic overseas bank was established in London in 1828 as Leslie & Grindlay, agents and bankers to the British Army and business community in India. Banking operations expanded to include the Indian subcontinent, the Middle East and eleme ...

. The name was later changed to Stanbic Bank Nigeria Limited and was a wholly owned subsidiary of Stanbic Africa Holdings Limited (SAHL).

Merger

On 24 September 2007, IBTC Chartered Bank Plc merged with Stanbic Bank Nigeria Limited. Stanbic Africa Holdings Limited (SAHL) on behalf of

Standard Bank Standard Bank (officially Standard Bank Group Limited) is the largest bank in Africa, as well as the continent's biggest lender by assets. The company's corporate headquarters, Standard Bank Centre, is located in Johannesburg, Gauteng. The ...

tendered an offer for the acquisition of additional IBTC shares in order to attain majority shares in the merged business. This resulted in SAHL having a majority shareholding 50.75% up from 33.33% as at the merger date. The business name was subsequently changed to Stanbic IBTC Holdings Plc and resumed trading on the

NSE NSE may refer to: Stock exchanges * Nagoya Stock Exchange, Japan * Nairobi Stock Exchange, Kenya * Nigerian Stock Exchange, Lagos * National Stock Exchange of India (NSE), Mumbai, India * National Stock Exchange, the former name of Vilnius Sto ...

Member companies

The companies comprised in Stanbic IBTC Holdings are as follows: * Stanbic IBTC Bank – A commercial bank in Nigeria, serving individuals and businesses, and regulated by the Central Bank of Nigeri

* Stanbic IBTC Pension Managers Limited – A leading Pension Fund Administrator (PFA) in Nigeri

* Stanbic IBTC Asset Management Limited – Providing asset management services. It was incorporated in 199

* Stanbic IBTC Stockbrokers Limited – Providing Stock brokerage servic

* Stanbic IBTC Trustees Limited – Specializes in trusteeship and estate managemen

* Stanbic IBTC Capital Limited – Offers Investment banking service

* Stanbic IBTC Insurance Brokers – Operates as the insurance brokerage arm of the group, they deal more with General Insurance which are non-life Insuranc

*Stanbic IBTC Insurance Limited – Provides Life Insurance services

*Stanbic IBTC Nominees – Acts as custodian in money market and fixed income securities for the Nigerian marke

*Zest Payment - Zest is the fintech subsidiary of Stanbic IBTC Holdings PL

Ownership

The

stock Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

of Stanbic IBTC Holdings listed on the

, where it trades under the symbol: STANBIC Shareholding in the group's stock is depicted in the table below:

Governance

The running of Stanbic IBTC Holdings is overseen by a seven-person board of directors (five non-executive and two executive)

The chairman of the Board of Stanbic IBTC Holdings is Sola David-Borha.

Awards

It was named the Asset management, Asset Management Company of the Year in Nigeria 2024 by Global Banking and Finance.

References

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External links

Stanbic IBTC Holding

Standard Bank Group
Banks of Nigeria Standard Bank Group Banks established in 1989 Companies based in Lagos Financial services companies established in 1989 Holding companies of Nigeria Nigerian companies established in 1989 Nigerian subsidiaries of foreign companies Companies in the NSE-30 Index Asset management companies