Stanbic IBTC Holdings

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Stanbic IBTC Holdings PLC
Public Company
NSE: STANBIC
Industry Financial services
Founded 1989[1]
Headquarters Lagos, Lagos State, Nigeria
Key people
Sola David-Borha
Chief Executive Officer
Atedo N.A. Peterside
Founder and Chairman
Products Loans, savings, investments, debit and credit cards, mortgages
Revenue NGN 67.41 Billion (2012) [2]
Total assets NGN 85.65 Billion (2012) [3]
Number of employees
2,077 (2013)[4]
Website Homepage

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, pension and trustee businesses. 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.[5]

Overview[edit]

Stanbic IBTC Holdings came to being as the result of a merger between Stanbic Bank Nigeria Limited and IBTC Chartered Bank Plc.

Before the Merger[edit]

IBTC Chartered Bank Plc[edit]

Investment Banking & Trust Company Plc (IBTC) was formed as an Investment Bank on 2 February 1989 with Atedo N.A. Peterside Chief Executive Officer.[6] In 2005, the Central Bank of Nigeria 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 [7] and listed on the Nigerian Stock Exchange.

Stanbic Bank Nigeria Limited[edit]

Stanbic Bank Nigeria Limited was founded in 1991 when Standard Bank Investment Corporation (Stanbic Bank), acquired the African operations of ANZ Grindlays Bank.[8] The name was later changed to Stanbic Bank Nigeria Limited and was a wholly owned subsidiary of Stanbic Africa Holdings Limited (SAHL).

The Merger[edit]

On 24 September 2007, IBTC Chartered Bank Plc merged with Stanbic Bank Nigeria Limited. Stanbic Africa Holdings Limited on behalf of Standard Bank tendered an offer to 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.[9] The business name was subsequently changed to Stanbic IBTC Holdings Plc[10] and resumed trading on the NSE.

Member Companies[edit]

The companies that comprise Stanbic IBTC Holdings include the following:[11]

  • Stanbic IBTC Bank - A commercial bank in Nigeria, serving individuals and businesses regulated by the Central Bank of Nigeria
  • Stanbic IBTC Pension Managers Limited - A leading Pension Fund Administrator (PFA) in the Nigeria.
  • Stanbic IBTC Asset Management Limited - Providing asset management services. It was incorporated in 1992.
  • Stanbic IBTC Stockbrokers Limited - Providing Stock brokerage service.
  • Stanbic IBTC Trustees Limited - Specializes in trusteeship and estate management.
  • Stanbic IBTC Ventures Limited - Manages venture capital funds for investing in any and all types of companies that require venture capital financing either by the way of debt and/or equity or any other means.
  • Stanbic IBTC Capital Limited - Offers Investment banking services.
  • Stanbic IBTC Investments Limited - Operates as the investment arm of the business.

Ownership[edit]

The stock of Stanbic IBTC Holdings listed on the NSE, where it trades under the symbol: STANBIC Shareholding in the Group's stock is depicted in the table below:[12]

Stanbic IBTC Holdings PLC Stock Ownership
Rank Name of Owner Percentage Ownership
1 Stanbic Africa Holdings Limited 53.2
2 Others 46.8
Total 100.00

Governance[edit]

The running of Stanbic IBTC Holding is overseen by a 12-person board of directors (9 non-executive and 3 executive) with Atedo N.A. Peterside as the Chairman.[13]

See also[edit]

References[edit]

External links[edit]