Stanbic Africa Holdings Ltd Expands Investment in Stanbic IBTC

In a show of confidence in one of Africa’s leading financial institutions, Stanbic Africa Holdings Limited, a significant shareholder in Stanbic IBTC Holdings Plc, has invested an additional N53,141,634 in Stanbic IBTC Holdings Plc.

Stanbic Africa Holdings Limited purchased 1,362,606 units of Stanbic IBTC Shares at an average price of N39.00 on 22 September 2021. See the details of the transactions below.

This was in addition to the N410,594,646.7 Stanbic Africa Holdings Limited invested in the bank earlier in the month. Therefore, Stanbic Africa Holdings Limited has now invested N463,736,280.7 in Stanbic IBTC Holdings Plc in the month of September alone.

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, Ventures, Investor Services, Pension Management, Trustees and life Insurance businesses. The company’s corporate headquarters, I.B.T.C. Place is situated at Walter Carrington Crescent, Victoria Island, Lagos. Stanbic IBTC Holdings is a member of the Standard Bank Group, a financial services giant based in South Africa. Standard Bank is Africa’s largest banking group ranked by assets and earnings operations in 20 African countries and 13 countries outside Africa.

Stanbic IBTC Holdings PLC. came to being 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 requiring banks to either divest from non-core banking financial services or adopt a holdings company structure.