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Stanbic IBTC Bank Sort Codes Across Nigeria



Stanbic IBTC Bank
  • Sort Codes of Stanbic IBTC Bank in Nigeria

A Sort Code identifies both the bank and the branch where an account is domiciled. A sort code is a 9-digit number with the first 3 digits identifying the bank’s code, while the next digit represents the location and the last 5 digits tell the branch.

Below is the complete list of Stanbic IBTC Bank sort codes and branches across Nigeria.

1 221150014 IDEJO
2 221150027 ALLEN AVENUE
3 221150030 NNAMDI AZIKIWE
4 221150043 OFFIN ROAD
5 221150072 AWOLOWO ROAD
6 221150108 MARTINS STREET
7 221150124 APAPA
10 221150221 TINCAN
11 221150234 NPA ACCOUNT BLOCK
12 221150289 TRADE FAIR
13 221150302 ALAUSA
14 221150357 MURI OKUNOLA
15 221150360 IKEJA 3 (OBA AKRAN AVENUE)
17 221150399 IDUMAGBO AV.
18 221150182 ALABA
19 221150111 SURULERE
20 221180149 AKURE
21 221190168 IBADAN (GBAGI)
22 221190265 IWO ROAD
23 221290372 ILE IFE
24 221190401 IBADAN MAIN
25 221170418 ABEOKUTA
26 221040496 BENIN CITY
27 221230057 ABA
28 221230293 ABA MARKET
29 221210080 PORT HARCOURT
31 221020173 ONITSHA
32 221240241 WARRI
33 221010345 UYO
34 221100446 OWERRI
35 221070424 CALABAR
36 221250503 ENUGU
37 221120060 KANO
38 221110096 KADUNA
39 221080155 ABUJA GARKI
40 221080252  ABUJA MAIN
41 221110193 ZARIA
42 221050318 MAKURDI
43 221200320 JOS
44 221060337 MAIDUGURI
45 221140435 ILORIN
46 221220452 SOKOTO
47 221030480 BAUCHI
48 221090514 YOLA
49 221130461 KATSINA
50 221160473 MINNA
51 221159522 HEAD OFFICE
52 221150551 AFRIBANK ST
53 221080579 ABUJA III
54 221150593 TOYIN ST
55 221150629 APAPA II
56 221210637 PH OLU-OBASANJO
57 221150645 LAGOS
58 221120659 KANO
59 221080663 ABUJA
60 221210679 PORT HARCOURT
61 221150687 IKEJA
62 221150690 IKOTA

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


CBN Maintains 11.5 Percent Monetary Policy Rate, Leaves Other Ratios Unchanged



cbn 1

The Central Bank of Nigeria led Monetary Policy Committee (MPC) has left the interest rate unchanged at 11.5 percent to further stimulate activities in the real sector of the economy.

Godwin Emefiele, the Governor of Central Bank of Nigeria disclosed this at the end of the MPC meeting on Tuesday in Abuja.

He said other parameters, the Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor, were left unchanged.

According to the Governor, the committee voted unanimously to maintain the current monetary policy and attributed the surge in inflation to structural policies, the increase in pump price and the recent #EndSARS protest.

Highlights of CBN-MPC’s  Decision

  • MPR was kept at 11.50%
  • The asymmetric corridor of +100/-700 basis points around the MPR
  • CRR was retained at 27.5%
  • Liquid Ratio was also kept at 30%

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Unity Bank Grew Gross Earnings by 8 Percent to N34 Billion in Nine Months



Unity bank

Unity Bank Plc grew gross earnings by 8 percent despite COVID-19 and other headwinds that hurt the profitability of most businesses in the first nine months of the year.

A break down of the bank’s unaudited financial results for the period showed gross earnings rose by 8 percent to N33.91 billion for the nine months ended September 30, 2020, up from N31.26 billion posted in the same period of last year.

The lender’s total assets rose by 44 percent from N293.05 billion in the corresponding period of 2019 to N420.87 billion in the period under review.

Unity Bank grew profit before tax from N1.61 billion in 2019 to N1.71 billion in the period under review, while profit after tax expanded from N1.48 billion in the corresponding period to N1.57 billion in 2020.

Customers’ deposits stood at N332.36 billion during the period under review, up from N257.69 billion posted in 2019.

Commenting on the performance, Mrs. Tomi Somefun, the Managing Director/Chief Executive Officer, Unity Bank Plc, expressed delight at the strong growth recorded across the bank’s balance sheet, especially from both the liability and assets side of the business and across key indices.

She said, “even as the bank continues to innovate in its e-business product bouquet to target and support value chain business with robust technology and thus diversify its earnings base.”

Somefun said, “One of the areas that will define our strategic direction going forward is investment in alternative channels, leveraging further deployment of resources in technology.

“COVID-19 gave us a chance to test the integrity and scalability of our technology, the IT infrastructure, and the electronic banking channels, and provided us an opportunity to see where we needed to improve and strengthen, knowing that the future of sustainable banking business is in alternative channels.”

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Financial Sector Grew by 6.8 Percent in the Third Quarter



Central Bank

The finance and insurance sector that comprises of both the financial institutions and insurance subsectors grew by 5.91 percent year-on-year in nominal terms in the third quarter (Q3).

According to the National Bureau of Statistics (NBS) latest report, the financial institutions’ subsector accounted for 88.89 percent of the sector in real terms in the quarter under review while the insurance subsector contributed the remaining 11.11 percent.

During the third quarter of 2020, the financial institutions’ subsector grew by 6.8 percent in Q3 2020 from 28.41 percent in Q2 2020 and 0.61 percent in Q3 2019 despite COVID-19 and a tough operating environment. The insurance subsector, however, contracted by -18.67 percent in Q3 2020 from -29.53 percent in Q2 2020 and 3.96 percent in Q3 2019.

On a quarterly basis, the sector declined by 24.76 percent.

In terms of contribution to GDP, the finance and insurance sector contributed 2.46 percent in Q3 2020, higher than the 2.40 percent it represented a year ago and lower than the contribution of 3.76 percent achieved in the previous quarter.

The economy contracted by 3.62 percent in the third quarter following a 6.10 percent decline posted in the second quarter. Nigeria is officially in the second economic recession in four years.

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