The Nation Newspaper

Tag: Stanbic IBTC

  • Stanbic IBTC N1bn pension ETF to boost market capitalisation

    Stanbic IBTC N1bn pension ETF to boost market capitalisation

    The capital market is set for a rebound what with the listing of the Stanbic IBTC Asset Management Limited (SIAML) 10 million units of N100 each of its Pension ETF 40 fund on the Nigerian Stock Exchange (NSE).

    Justifying the need for the listing in Lagos, the chief executive, Stanbic IBTC Asset Management Limited (SIAML), Bunmi Dayo-Olagunju said, “The Pension ETF 40, created to closely replicate the total return of the NSE Pension 40 index.”

    Specifically, she noted that the fund was designed to provide investors access to the most liquid publicly quoted companies on the NSE that are compliant with the regulatory requirements for investing pension assets.

    While speaking on the benefits of the ETF, Dayo-Olagunju said it would provide investors with a strategic exposure to the equities market, allowing for flexibility, cost effectiveness, diversification of investment, as well as liquidity. She added that it would act as a benchmark for PFAs to measure performance and report same to Retirement Savings Account (RSA) holders.

    Echoing similar sentiments, the executive director of Stanbic IBTC Asset Management, Shuaib Audu who spoke about ‘Facts behind the listing presentation,’ said the fund expects to pay out 90 percent of all of its net earnings to its unit holders every quarter.

    According to him, the fund manager reserves the option to automatically reinvest cash distribution into the fund and issue additional units to unit holders subject to their qualification on the record/closure date.

    Speaking earlier, the chief executive officer of NSE, Mr. Oscar Onyema, commended SIAML for contributing towards the growth of ETF market, while he advised on the need for investors’ educations as awareness is still low.

    He urged stockbrokers to support the product by introducing it to their clients.

    The managing director of APT Securities and Funds Limited, Mallam Garba Kurfi, noted that more education needs to be taken to retail investors especially investors at the grassroots.

    “I deal primarily with retail investors, of which I have over 40,000, however not a single one of these investors have asked me to purchase an ETF since its inception,” he said.

  • Stanbic IBTC unveils 24-hour digital branch

    Stanbic IBTC unveils 24-hour digital branch

    Stanbic IBTC Bank has commissioned her first self-service digital branch, delivering the transformational power of digital technology to drive optimal financial services in Nigeria.

    The flagship digital branch inauguration took place in Lagos on aDecember 14, with technology business pioneer, Leo Stan-Eke, founder of Zinox Technologies Limited, declaring the facility ready for business. Located at Maryland Mall, right in the heart of Lagos, the branch’s processes and systems are completely digitalised and equipped with tablets, touch screens, electronic banking devices and new digital technologies set up in designated self-service and private areas to enable customers conduct financial transactions seamlessly while enjoying a delightful banking experience.

    Among other facilities available at the branch are automated teller machines, bulk note acceptor, personal teller machine, smart table, self-service kiosk, self-service smart tablets, Internet banking kiosk, and instant debit card issuance machine.

    Chief Executive, Stanbic IBTC Bank, Yinka Sanni, said the digitisation of banking services is the path to the future as consumers increasingly embrace the online world to meet their needs. The benefits of digitalisation and innovation are huge for the individual, business or economy, Sanni stated, adding that as technology evolves, Stanbic IBTC Bank will keep pace with it to deliver impeccable value to its customers.

  • Stanbic IBTC Pension Managers mulls support for micro pension scheme

    Stanbic IBTC Pension Managers mulls support for micro pension scheme

    The management of the Stanbic IBTC Pension Managers Limited, a member of Stanbic IBTC Holdings PLC, has drum up support for the proposed micro pension scheme, stressing that it has the potential to provide the vital capital required for investment in critical sectors of the economy.

    Making this clarion call was the Chief Executive, Stanbic IBTC Pension Managers Limited, Mr. Eric Fajemisin, who said the initiative offers enormous benefits to the society, even though there are also some challenges.

    Fajemisin who spoke during an interactive session with the media in Lagos, also reviewed some provisions of the 2014 Pension Reform Act and the impact on the Contributory Pension Scheme (CPS).

    The micro pension scheme, when finalised, would ensure improved standard of living for the elderly, guarantee the safety of funds and may provide access to other incentives, such as mortgage facilities and health insurance, Fajemisin stated. Other benefits would likely include flexible contribution remittances, the opportunity to make withdrawal prior to retirement and the enhancement of financial inclusion and attainment of economic stability objectives.

    On the other hand, the initiative faces such challenges as insufficient awareness and negative perception towards pensions, modest financial literacy in the country, the high cost of carrying out awareness of the CPS, lack of reliable data on the informal sector and low buy-in by unions in the sector, among others. These challenges, he noted, are expected to be addressed prior to commencement of the scheme and thereafter.

    On the enabling law, the Stanbic IBTC helmsman noted that the introduction of more stringent penalties for erring operators and directors, especially as it relates to mismanagement of funds, has engendered greater corporate governance, making it almost impossible to misapply pension funds by anyone. By increasing the contributions of the employer and employee to 10 and 8 percent respectively, Fajemisin said the Act has ensured the availability of more benefits to contributors at retirement. In addition, the Act makes the non-remittance of employees’ contribution by the employer an offence which the National Pension Commission (PenCom) can prosecute in court.

    Stanbic IBTC Pension Managers Limited, he assured remains committed to rendering impeccable service to its clientele. “We make a promise to our clients: that they will retire very well. It is a promise we keep. That explains why we are represented in virtually every part of Nigeria, so that our customers will not have to go over long distances in order to meet with us. Retirement is a time to rest and enjoy the fruits of your labour,” he said.

  • Stanbic IBTC hails Nigeria’s creative community

    Stanbic IBTC has reiterated its commitment towards building a thriving arts community in Nigeria to ensure sustainable development. Chief Executive Officer, Stanbic IBTC Holdings PLC, Mrs. Sola David-Borha, made this pledge at the second edition of the Stanbic IBTC Fine Arts and The Acts event in Lagos, noting that there was need to foster more collaboration between players in the arts and business communities, leading to the deepening of the entrepreneurship spirit in the sector.

    As an African institution with continental experience spanning over 153 years, David-Borha said the Standard Bank Group, to which Stanbic IBTC belongs, is an essential part of Africa’s rich cultural heritage and diversity, which inevitably underlines its growing commitment to providing a solid financial foundation for budding and established creative artists.

    “We are quite delighted to put together this year’s event. We undoubtedly have the talent to create spectacle as artistry and creativity come from within. We are also encouraged by the enthusiasm and huge turnout of participants which clearly indicates that our drive to inspire creativity and innovation remains on course,” David-Borha stated.

  • Stanbic IBTC wins private bank award

    Stanbic IBTC wins private bank award

    Stanbic IBTC Bank, a member of the Standard Bank Group, has won two awards at the Global Private Banking Awards for 2016 by Professional Wealth Management (PWM) and The Banker Magazine. The bank was named the ‘Best Private Bank (Wealth and Investment) in Nigeria’ and the ‘Best Private Bank in Kenya,’ an award it is winning for the second consecutive year. Stanbic IBTC was the only organisation so honoured in the West African sub-region.

    The awards, a joint venture between The Banker and PWM Magazine, both part of the Financial Times Group, reward excellence in wealth management among banks from the Americas, Europe, Asia, Middle East and Africa, based on qualitative and quantitative criteria.

    The winners were announced at a gala dinner and awards ceremony at the Four Seasons Hotel in Park Lane, London, with Busola Jejelowo, Head, Wealth and Investment, Stanbic IBTC Asset Management Limited, representing Stanbic IBTC.

    “Our wealth management philosophy centres on managing, growing and protecting the generational wealth of our clients and their families.

    “Our goals-driven investment approach allows our clients to take a long-term view of their investments, whilst simultaneously meeting their short-term lifestyle needs. Our aim is to accompany our clients through each stage of their life, giving purpose to their wealth and ensuring they leave a lasting legacy,” Chief Executive, Stanbic IBTC Asset Management Limited, Mrs. Bunmi Dayo-Olagunju, said.

  • Stanbic IBTC names speakers for Business Leadership Series

    Stanbic IBTC names speakers for Business Leadership Series

    The Minister of Agriculture, Chief Audu Ogbeh, South African farmer and eco-entrepreneur, Jason Drew, and Managing Director, Doreo Partners, Kola Masha, will be speaking at the Stanbic IBTC 2016 Business Leadership Series. Drew achieved global fame by creating a thriving enterprise via the cultivation of maggots.

    The trio will team up to provide innovative insights and thought provoking viewpoints on Nigeria’s agricultural value chain potential.

    Now in its third year, the 2016 edition of the series will beam the spotlight on Nigeria’s agricultural industry. Over 200 delegates are expected to attend the conference scheduled to hold on October 20,  at Eko Hotel and Suites, Victoria Island, Lagos.

    The keynote speakers will participate in a panel discussion and engage the audience in discussions covering the economy, and agriculture in particular, sharing their insight and expertise on how to build a vibrant and sustainable agricultural sector in Nigeria.

    In the interactive seminar sessions and panel discussion, participants will have an opportunity to highlight any areas of interest for further amplification by the experts, while also looking forward to networking, sharing ideas and information, gaining knowledge about enterprise development and funding opportunities.

     

     

  • Stanbic IBTC commits N12m to education fund

    Stanbic IBTC Holdings Plc has reiterated its determination to help children and the youth live productive lives that will enable them contribute to societal development. This commitment was restated during a charity walk held last month end  tagged: Together4 A Limb’, which the company organised as part of activities to raise awareness for children with limb losses.

    The three-kilometre charity walk, which was followed by cheque presentations to the beneficiary children, had as guest of honour the First Lady of Nigeria, Mrs. Aisha Buhari, who was represented by the wife of the Zamfara State governor, Hajiya Asma’u Yari.

    Each of the eight beneficiary children, who had been fitted with prostheses/artificial limbs, got an educational trust fund of N1.5 million. The cheques for the trust funds were presented to the six beneficiaries present at the charity walk by Hajiya Yari. Last year, five children benefitted from the educational trust fund and prostheses, bringing to 13 the number of beneficiaries.

    According to the Chief Executive of Stanbic IBTC Holdings Plc, Mrs Sola David-Borha, the initiative is an important part of the Group’s corporate social investment, which focuses on health, education and economic empowerment.

    She said while the charity walk is important to draw attention to the plight of children who have limb losses, of greater benefit to the children, their parents/guardians and the society are the prostheses and education trusts Stanbic IBTC is giving to the beneficiaries.

    “This event is a very important CSR initiative, which helps Stanbic IBTC to contribute meaningfully to the society. Through the provision of prostheses and education trusts to indigent children who have suffered limb losses, we are assisting young Nigerians to enable them get on with their lives in a productive manner,” David-Borha said. According to the CE, “The education trust will provide for the education of the beneficiaries for as far as they are willing and able to go and will enable them realise their God-given potential.”

  • Stanbic IBTC opens public subscription to N2.5b funds

    Stanbic IBTC Asset Management Limited (SIAML), the investment management arm of Stanbic IBTC Holdings Plc, has opened application lists for subscription to two newest mutual funds-Stanbic IBTC Dollar Fund (SIDF) and SIAML Pension ETF 40. The opening of public subscription followed the approval of the funds by the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE).

    The initial public offerings (IPOs) for units of both funds will close on Wednesday, November 2, 2016. Under the SIDF, SIAML is offering 5.0 million units of the Stanbic IBTC Dollar Fund (SIDF) at $1 per unit. This brings the offer size to N1.52 billion at current exchange rate of N305/$. Under the SIAML Pension ETF 40, the firm is offering 10 million units at N100 at par value of N100.

    The SIAML Pension ETF 40 is an Exchange Traded Fund (ETF) that will mirror the Nigerian Stock Exchange Pension 40 Index, launched last year by the NSE to track returns for investors, particularly institutional investors like Pension Fund Administrators (PFAs), that invest in line with guidelines set out by the National Pension Commission. The NSE Pension 40 Index monitors the top 40 most capitalised and liquid companies in the market.

    Chief Executive Officer, Stanbic IBTC Asset Management Limited (SIAML), Bunmi Dayo-Olagunju, said the Stanbic IBTC Dollar Fund provides retail and institutional investors the opportunity to seek exposure in attractive dollar-denominated securities to serve as a devaluation hedge as well as optimise returns on investments.

    She said the Stanbic IBTC Dollar Fund was launched based on the need to spur the preservation and appreciation of wealth.

    “We believe that even in these volatile times, the Fund will foster the diversification of portfolios and investments in currency terms, which in turn will help in the preservation and appreciation of wealth for investors,” Dayo-Olagunju said.

    She outlined that the primary objective of the SIAML Pension ETF 40 is to provide investors access to the most liquid publicly quoted companies on the NSE that are compliant with the regulatory requirements for investing pension assets in terms of taxable profits, free float, dividend, sector and individual stock weighting.

    She highlighted some of the benefits of the ETF to include provision of investors with strategic exposure to the equities market, allowing for flexibility, cost effectiveness, diversification of investment, as well as liquidity.

    She added that it would act as a benchmark for PFAs to measure performance and report same to Retirement Savings Account (RSA) holders.

    She assured that her firm would continue to leverage its expertise in asset and wealth management, built over the past 20 years, as well as the Stanbic IBTC Group’s rich heritage in corporate and investment banking to provide quality products and services that will not only deepen the market, but enhance transparency and investor’s confidence.

    Chief Executive Officer, Stanbic IBTC Capital Limited, Mr. Funso Akere commended SIAML for its efforts in deepening the Nigerian capital market through the introduction of new and innovative products with specific characteristics to meet the needs of various market categories.

  • Stanbic IBTC takes Together 4 A Limb charity walk to Abuja

    Stanbic IBTC takes Together 4 A Limb charity walk to Abuja

    The campaign to support indigent children without limbs is expected to attract greater attention this year as Abuja hosts the 2016 Stanbic IBTC Together 4 A Limb charity walk. The first edition held in Lagos last year.

    The annual signature corporate social investment initiative of the Stanbic IBTC Group will be hosted tomorrow and the First Lady, Mrs. Aisha Buhari is expected to flag off the walk.

    The Abuja charity walk will feature eight more children, who have been fitted with prostheses, bringing to 13 the number of beneficiaries, including the five, who benefitted last year. Worthy of note is the fact that majority of this year’s beneficiaries of Stanbic IBTC’s prostheses and education trust were selected from the Northern region of  the country, a number of whom were victims of Boko Haram insurgency that has ravaged the region.

    Chief Executive, Stanbic IBTC Holdings PLC, Mrs. Sola David-Borha, said a cardinal objective of the walk was to raise awareness about the importance of supporting the vulnerable in society, especially indigents and the youth. “The walk is about awakening our consciousness to take deliberate steps to create an all-inclusive society in which everyone finds fulfillment,” she said.

    David-Borha said by providing the beneficiaries with artificial limbs and as educational trust, Stanbic IBTC hopes to enable them look beyond their physical challenges to lead fulfilling and rewarding lives.

    “We understand how challenging it must be for the parents and guardians of these children, especially considering the high cost of acquiring these prostheses and of course, the value it would bring to the daily lives of these children,” she added.

    She continued: “During the maiden walk in Lagos last year, N1.5 million was given to each of the five beneficiaries via our education trust in support of their education.”

  • ‘Banks unlock SMEs’ potential with funding’

    ‘Banks unlock SMEs’ potential with funding’

    Banks have crucial roles to play in ensuring that potentials of Small and Medium Enterprises (SMEs) are harnessed by providing tthem with adequate funding, Stanbic IBTC Bank has said.

    According to the lender, stakeholders need to deploy effective  strategy, resources, planning and diligent execution to make SMEs a huge success.

    Head, Business Banking, Stanbic IBTC Bank, Anya Duroha, said the SME sector is key to the economic growth and development of any nation and Nigeria is no exception.

    He spoke at the the Stanbic IBTC Bank 2016 SME Capacity Building Sessions which took place in eight cities across the country.

    He said the need to support SMEs is more pronounced as government attempts to diversify the economy in the aftermath of declining revenue from oil due to plummeting prices.

    He said the series was conceived two years ago to expose SME operators to modern and innovative marketing, financial, and management skills that are useful to their business operations and which will help them to attract the necessary funding for growth.

    The Stanbic IBTC Group, Duroha explained, is backed by the rich heritage and know-how of the Standard Bank Group.

    The bank is also committed to building a strong SME base in Nigeria and one of the ways it hopes to achieve this is by empowering operators with the right business skills and adequate funding.

    The series were designed to contribute to the development of relevant expertise and priorities that would help SMEs flourish, enabling them to play their catalytic role in economic growth.

    One of the biggest causes of small business failure is a lack of sound financial management, stated Eziukwu Princewill, Development Finance Strategist at Visionaries Nigeria Limited, who facilitated at the Abuja session.

    He stated that “to stay in business, there should be vast and keen knowledge of the environmental indices and how they can affect the growth and sustainability of the business.”  economy.