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Tag: Stanbic IBTC

  • Stanbic IBTC drives SME in Kano, Abuja, others

    Stanbic IBTC drives SME in Kano, Abuja, others

    The nationwide drive by Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, to help build a vibrant small and medium scale enterprises sector in Nigeria has been taken to more cities across the federation.

    Abuja, Kano, and Onitsha have joined the growing list of locations hosting the Stanbic IBTC forum designed to empower the sub-sector to actualise in Nigeria its globally acclaimed role of stimulating and sustaining economic development.

    While Kano, Onitsha and Ibadan hosted the forum last Thursday May 14, Abuja holds this Tuesday, along with Lagos for the second time.

    In the first phase of the series, Port Harcourt, Aba, Ibadan, and Lagos were host cities, attracting about 3,500 operators in the SME value chain.

    Mr. Lloyd Onaghinon, Head, Business Banking, Stanbic IBTC Bank, stated that the key objective of the workshops is to equip its clients operating in the Small and Medium Scale Enterprises (SMEs) sub-sector with financial, marketing and management skills that they can readily deploy to nurture and grow their businesses.

    “The SME sector is pivotal to the economic growth and development of any nation and Nigeria is no exception. The seminar was conceived to avail SME operators exposure to modern and innovative marketing, financial and management skills that are useful to their businesses and which will help them to attract the necessary funding for growth,” he said.

    Onaghinon stated that Stanbic IBTC Bank, backed by the rich heritage and know-how of the Standard Bank Group, is 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.

    “Stanbic IBTC Bank has a rich pedigree of building capacity for SMEs and providing much-needed support in terms of funding and skills acquisition because we understand the important linkages provided by SMEs to industries and employment generation. This seminar is one of several ways the bank continues to build capacity in the SME sector,” Onaghinon said.

    To ensure effectiveness of the workshops, Onaghinon said the course content and the resource persons have been carefully chosen to ensure participants derive maximum benefits from the seminar.

    “We have streamlined the seminar course content to include essential topics such as Building Financial Records, Achieving Success in Marketing, Business Planning, and People Management, among others. The seminar is a unique offering by Stanbic IBTC to develop and sharpen participants’ business skills,” he stated.

    Stanbic IBTC Bank is a subsidiary of Stanbic IBTC Holdings PLC, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group, to which Stanbic IBTC Holdings belongs, is the largest African bank by assets and earnings. It is rooted in Africa with strategic representation in 20 countries on the African continent, including South Africa.

    Standard Bank has been in operation for 151 years and is focused on building first-class, on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally.

  • Stanbic IBTC drives SME in Kano, Abuja, others

    Stanbic IBTC drives SME in Kano, Abuja, others

    The nationwide drive by Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, to help build a vibrant small and medium scale enterprises sector in Nigeria has been taken to more cities across the federation.

    Abuja, Kano, and Onitsha have joined the growing list of locations hosting the Stanbic IBTC forum designed to empower the sub-sector to actualise in Nigeria its globally acclaimed role of stimulating and sustaining economic development.

    While Kano, Onitsha and Ibadan hosted the forum last Thursday May 14, Abuja holds this Tuesday, along with Lagos for the second time.

    In the first phase of the series, Port Harcourt, Aba, Ibadan, and Lagos were host cities, attracting about 3,500 operators in the SME value chain.

    Mr. Lloyd Onaghinon, Head, Business Banking, Stanbic IBTC Bank, stated that the key objective of the workshops is to equip its clients operating in the Small and Medium Scale Enterprises (SMEs) sub-sector with financial, marketing and management skills that they can readily deploy to nurture and grow their businesses.

    “The SME sector is pivotal to the economic growth and development of any nation and Nigeria is no exception. The seminar was conceived to avail SME operators exposure to modern and innovative marketing, financial and management skills that are useful to their businesses and which will help them to attract the necessary funding for growth,” he said.

    Onaghinon stated that Stanbic IBTC Bank, backed by the rich heritage and know-how of the Standard Bank Group, is 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.

    “Stanbic IBTC Bank has a rich pedigree of building capacity for SMEs and providing much-needed support in terms of funding and skills acquisition because we understand the important linkages provided by SMEs to industries and employment generation. This seminar is one of several ways the bank continues to build capacity in the SME sector,” Onaghinon said.

    To ensure effectiveness of the workshops, Onaghinon said the course content and the resource persons have been carefully chosen to ensure participants derive maximum benefits from the seminar.

    “We have streamlined the seminar course content to include essential topics such as Building Financial Records, Achieving Success in Marketing, Business Planning, and People Management, among others. The seminar is a unique offering by Stanbic IBTC to develop and sharpen participants’ business skills,” he stated.

    Stanbic IBTC Bank is a subsidiary of Stanbic IBTC Holdings PLC, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group, to which Stanbic IBTC Holdings belongs, is the largest African bank by assets and earnings. It is rooted in Africa with strategic representation in 20 countries on the African continent, including South Africa.

    Standard Bank has been in operation for 151 years and is focused on building first-class, on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally.

  • Stanbic IBTC drives SME in Kano, Abuja, others

    Stanbic IBTC drives SME in Kano, Abuja, others

    The nationwide drive by Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, to help build a vibrant small and medium scale enterprises sector in Nigeria has been taken to more cities across the federation.

    Abuja, Kano, and Onitsha have joined the growing list of locations hosting the Stanbic IBTC forum designed to empower the sub-sector to actualise in Nigeria its globally acclaimed role of stimulating and sustaining economic development.

    While Kano, Onitsha and Ibadan hosted the forum last Thursday May 14, Abuja holds this Tuesday, along with Lagos for the second time.

    In the first phase of the series, Port Harcourt, Aba, Ibadan, and Lagos were host cities, attracting about 3,500 operators in the SME value chain.

    Mr. Lloyd Onaghinon, Head, Business Banking, Stanbic IBTC Bank, stated that the key objective of the workshops is to equip its clients operating in the Small and Medium Scale Enterprises (SMEs) sub-sector with financial, marketing and management skills that they can readily deploy to nurture and grow their businesses.

    “The SME sector is pivotal to the economic growth and development of any nation and Nigeria is no exception. The seminar was conceived to avail SME operators exposure to modern and innovative marketing, financial and management skills that are useful to their businesses and which will help them to attract the necessary funding for growth,” he said.

    Onaghinon stated that Stanbic IBTC Bank, backed by the rich heritage and know-how of the Standard Bank Group, is 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.

    “Stanbic IBTC Bank has a rich pedigree of building capacity for SMEs and providing much-needed support in terms of funding and skills acquisition because we understand the important linkages provided by SMEs to industries and employment generation. This seminar is one of several ways the bank continues to build capacity in the SME sector,” Onaghinon said.

    To ensure effectiveness of the workshops, Onaghinon said the course content and the resource persons have been carefully chosen to ensure participants derive maximum benefits from the seminar.

    “We have streamlined the seminar course content to include essential topics such as Building Financial Records, Achieving Success in Marketing, Business Planning, and People Management, among others. The seminar is a unique offering by Stanbic IBTC to develop and sharpen participants’ business skills,” he stated.

    Stanbic IBTC Bank is a subsidiary of Stanbic IBTC Holdings PLC, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group, to which Stanbic IBTC Holdings belongs, is the largest African bank by assets and earnings. It is rooted in Africa with strategic representation in 20 countries on the African continent, including South Africa.

    Standard Bank has been in operation for 151 years and is focused on building first-class, on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally.

  • Stanbic IBTC posts N130.6b gross earnings

    Stanbic IBTC posts N130.6b gross earnings

    Stanbic IBTC Holdings Plc has announced its audited results for the year ended December 31, 2014, with gross earnings growing by 17 per cent to N130.6 billion.

    The figure stood at N111.2 billion in the corresponding period of 2013. Profit after tax grew by 54 per cent to N32.1 billion, as against the prior year’s N20.8 billion. Similarly, profit before tax recorded an increase of 63 per cent to N40.1 billion in the 2014 financial year, up from N24.6 billion recorded in 2013.

    The Group also made other significant gains during the period under review. Total assets increased to N944.5 billion last year, a 24 percent increase compared to the N763 billion recorded in December 2013. The growth in the balance sheet size was driven by significant increases in loans and advances to customers and other financial investments. Gross loans and advances grew by 36 percent to N413.4 billion, compared to N303.3 billion recorded in December 2013, while customer deposits rose to N494.9 billion from N416.4 billion in the corresponding period of 2013, representing an increase of 19 percent.

    Chief Executive Officer, Stanbic IBTC Holdings Plc, Mrs. Sola David-Borha, said the strong performance, despite the effect of declining crude oil prices on the operating environment, is evidence of the positive outcome of the group’s strategy of growing the client base across target and key market segments while maintaining a principled credit process.

    “Our financial performance maintained its growth trajectory from our 2013 performance, as operating income and profit after tax increased by 23 per cent and 54 per cent. We managed our loan book and deposit liabilities efficiently leading to higher net interest margins. Increase in client transaction volumes and product adoption impacted positively on our non-interest revenue, while a disciplined approach to cost saw our cost-to-income ratio improve to 58.6 per cent from 68 per cent recorded in 2013.”

    She said the future holds great promise for stakeholders as the Stanbic IBTC Group continues to seek opportunities in high growth sectors of the economy to grow its business, while sticking with its robust business model anchored on the prudent management of resources.

    “We remain positive in 2015, despite the envisaged volatility in economic conditions, to deliver best-in-class services to our customers and provide value for our shareholders,” she said.

     

  • Stanbic IBTC secures $90m credit from FMO

    Stanbic IBTC secures $90m credit from FMO

    Stanbic IBTC Bank has concluded a $90 million credit facility from the FMO (Nederlands eFinancierings Maatschappijvoor Ontwikkelingslanden N.V).

    The purpose of the facility is for Stanbic IBTC Bank to end to small and medium sized companies for the financing of projects in the infrastructure sector, which include agriculture, oil and gas, power, ports, telecoms and others.

    The facility which will run for a term of five years was provided to Stanbic IBTC Bank by FMO along with European Financing Partners (EFP) and DEG – Deutsche Investitions- und EntwicklungsgesellschaftmbH).

    The primary lender, FMO, is a Dutch development bank that was established in 1970 by the Dutch government, commercial banks, the national employers’ association, labour unions, and private investors, in order to make investments in private sector projects within developing countries and emerging markets. FMO is present as a development finance partner in over eighty different developing countries and emerging markets around the world.

    The company’s mandate is to provide long term capital for projects in these countries. Thereby, maximising development impact with a methodology designed to ensure that FMO’s return on investment is not just financial but also has positive environmental and social effects.

    The secondary lender, DEG, is a subsidiary of KfW andone of the largest European development finance institutions. For more than 50 years, DEG has been financing and structuring the investments of private companies in developing and emerging market countries.

    DEG invests in profitable projects that contribute to sustainable development in all sectors of the economy, from agribusiness to infrastructure and manufacturing to services.

    The financial sector is a further focus in order to facilitate reliable access to investment capital locally. DEG’s aim is to establish and expand private enterprise structures in developing and emerging countries, and thus create the basis for sustainable economic growth and a lasting improvement in the living conditions of the local population.

    The Chief Executive of Stanbic IBTC Bank, Mr. Yinka Sanni, said the commitment of the lenders shows the confidence they have in the Stanbic IBTC brand. He further emphasised that the facility will enable the bank continue its SME sector growth efforts and move the economy forward.

    Linda Broekhuizen, FMO’s CIO commented: “This second facility to Stanbic IBTC Bank is further testimony to the long and good relationship between the Standard Bank Group and FMO. This syndicated loan facility will assist Stanbic IBTC Bank in expanding its leading role in financing of infrastructure development and providing long term funding to small and medium sized companies, contributing to job creation in Nigeria.”

    Stanbic IBTC Bank has also received the ISO/IEC 27001 Certification. The certification follows an extensive and painstaking standardisation process on information security by the lender.

    The ISO/IEC 27001 is an internationally recognized best practice framework for an information security management system, which helps businesses to identify risks to important information while putting in place the appropriate controls to help reduce such risks.

    Strategic Delivery Director at British Standards Institution (BSI), Mr. Pietro Foschi, said the lender complied with the requirements of ISO/IEC 27001 certification, which entails development, operations and maintenance of the processes related to services provided and managed by the bank’s Information and Technology (ICT) Department.

    Chief Executive Officer, Stanbic IBTC Bank, Mr. Yinka Sanni, commended the bank’s team for making the certification possible. He noted that the award is in recognition of the pivotal role of information security management to growth and innovation, which is in turn dependent on having a secure and robust platform that enhances efficiency in service delivery and customer satisfaction.

    “We are delighted about the ISO/IEC 27001 certification. We appreciate it as yet another demonstration of our drive to improve service delivery across various channels. Stanbic IBTC will continue to deliver exceptional performances across all segments of the business,” he said.

    Among the benefits of the ISO/IEC 27001 certification include identifying risks and putting controls in place to manage or reduce the risks; flexibility in adapting controls to all or selected areas of the business; gaining stakeholder and customer trust via data protection; and demonstrating compliance and gaining status as a preferred institution.

  • Stanbic IBTC secures $90m credit

    Stanbic IBTC secures $90m credit

    Stanbic IBTC Bank has concluded a $90 million credit facility from the FMO (Nederlands eFinancierings Maatschappijvoor Ontwikkelingslanden N.V).

    The purpose of the facility is for Stanbic IBTC Bank to end to small and medium sized companies for the financing of projects in the infrastructure sector, which include agriculture, oil and gas, power, ports, telecoms and others.

    The facility which will run for a term of five years was provided to Stanbic IBTC Bank by FMO along with European Financing Partners (EFP) and DEG – Deutsche Investitions- und EntwicklungsgesellschaftmbH).

    The primary lender, FMO, is a Dutch development bank that was established in 1970 by the Dutch government, commercial banks, the national employers’ association, labour unions, and private investors, in order to make investments in private sector projects within developing countries and emerging markets. FMO is present as a development finance partner in over eighty different developing countries and emerging markets around the world.

    The company’s mandate is to provide long term capital for projects in these countries. Thereby, maximising development impact with a methodology designed to ensure that FMO’s return on investment is not just financial but also has positive environmental and social effects.

    The secondary lender, DEG, is a subsidiary of KfW andone of the largest European development finance institutions. For more than 50 years, DEG has been financing and structuring the investments of private companies in developing and emerging market countries.

  • Stanbic IBTC may announce dividend next week

    Stanbic IBTC Holdings Plc is expected to announce its dividend recommendation next week as directors of the financial services group meet to review the earnings and reports for the immediate past year ended December 31, 2014.

    The board of directors of Stanbic IBTC Holdings is scheduled to meet on Wednesday, February 4. The main agenda for the meeting is the review of the financial statements and report for the financial year ended December 31, 2014.

    At the meeting, the board will consider and approve the audited financial statements of the company as well as the appropriate dividend to be recommended for payment to shareholders.

    The meeting will also consider other corporate actions including the date, time and venue for the annual general meeting as well as closure and payment dates for the dividend recommendation.

    Stanbic IBTC Holdings is expected to immediately announce decisions at the board meeting in line with the listing requirements at the Nigerian Stock Exchange (NSE).

    Third quarter report of Stanbic IBTC Holdings for the nine-month period ended September 30, 2014 showed that interest income rose by 15.7 per cent to N18.291 billion while non interest income grew by 19.2 per cent to N14.754 billion. Profit before tax grew by 45.7 per cent at N10.399 billion while profit after tax and minority interest rose by 14.7 per cent to N8.228 billion.

    Despite the impressive results, Stanbic stock declined by 3.04 per cent on the Nigerian Stock Exchnage Wednesday by 3.04 per cent at N0.91 to N29.01 per share

    Post-listing rules at the NSE require quoted companies to submit their earnings reports, not later than three months after the expiration of the period. Most quoted companies including all banks, major manufacturers, oil and gas companies, breweries and cement companies use the 12-month Gregorian calendar year as their business year. The business year thus terminates on December 31.

    NSE’s regulatory filing calendar indicates that the deadline for submission of annual report for companies with Gregorian calendar business year will be Tuesday March 31.

  • We are focused on vibrant stock market, says Stanbic IBTC

    We are focused on vibrant stock market, says Stanbic IBTC

    The Stanbic IBTC Group is focused on helping to unearth the potential of the Nigerian capital market and building it into a vibrant and strong market.

    Chief Executive Officer, Stanbic IBTC Stockbrokers Limited, Oladele Sotubo, gave this assurance while commenting on the emergence of his company as the best stockbroker at the Nigerian Stock Exchange (NSE) in 2014.

    The NSE had named Stanbic IBTC Stockbrokers Limited, a member of the Stanbic IBTC Group, as the leading market operator in the Nigerian capital market. The stockbrokerage firm won the NSE Chief Executive Award as the best dealing member firm on the Exchange in 2014.

    The NSE CEO Award is an annual capital market award, in three sub-categories, that recognizes excellence and exceptional performance by market operators in a given year. The awards seek to reward outstanding contributions to the growth and development of the capital market and the Exchange.

    The award was based on Stanbic IBTC Stockbrokers’ trading activity during the year. Market data for 2014 showed that Stanbic IBTC Stockbrokers Limited achieved a turnover in excess of 24 billion shares, which represented 11.42 per cent of turnover volume at the NSE. The shares were valued at over N472 billion or 17.55 per cent of aggregate turnover value. IBTC Stockbrokers was also the largest stockbroking house in Nigeria in 2013.

    Sotubo said the Stanbic IBTC Group is committed to delivering innovative and timely financial solutions to the Nigerian and foreign investors.

    According to him, the award validates the appetite and growing capacity of the stockbroking firm, which is leveraging on the expertise of the Stanbic IBTC Group, to provide robust services in the capital market.

    He noted that the award and the recent listing on the Exchange of Stanbic IBTC Exchange Traded Fund (Stanbic IBTC ETF 30), are clear indications of the Stanbic IBTC Group’s focus on building a strong and vibrant stock market.

    “We are delighted to be recognized for our efforts and credible performances in the Nigerian capital market. The award reflects our strong commitment to consistently deliver relevant, innovative and timely solutions to our ever growing local and foreign clientele,” Sotubo said.

    He added that the increase in the broker’s market share is a bold statement that gives its  present and prospective clients more confidence to do business with it, assuring that the company will work harder to maintain that position as competition will continue to strive to take the lead from it.

    He said the award speaks to the company’s consistent performance and efforts to remain the best-in-class capital market operator pointing out the rich heritage of the Stanbic IBTC Group, a member of the Standard Bank Group, to which it belongs.

     

  • Stanbic IBTC to float more ETFs

    Stanbic IBTC to float more ETFs

    Chief Executive Officer, Stanbic IBTC Asset Management Limited , Mr. Olumide Oyetan, said the firm plans to float more Exchange Traded Funds (ETFs) this year.

    He said the bank will do so because of its commitment to make the Nigerian capital market less equity based and provide alternatives for investors.

    Oyetan who spoke during the listing of the Stanbic IBTC ETF 30 on the floor of the Nigerian Stock Exchange (NSE) said the ETFs will be launched by the first half of this year.

    A total of 11.44 million units of the ETF were  listed on the daily official list of the NSE at N100 per unit. The 42,000 units of the ETF valued at N422, 000 were traded same day.

    He called on investors to take advantage of ETF 30 to invest in a low cost instrument that will deliver the required market return from the NSE 30 Index.

    The Stanbic IBTC ETF 30 was designed to track the performance of the NSE 30 index which comprises the top 30 companies listed on the NSE in terms of market capitalisation and liquidity. The index serves as the flagship benchmark for the stock market as it represents 92 per cent of the NSE’s market capitalisation and the will replicate the price and yield performance of the index.

    Stanbic IBTC Asset Management Limited had in September offered 10 million units of the Fund at N100 each par to investors. The offer, which has received approval from the Securities and Exchange Commission (SEC) and the NSE, had a minimum subscription of 10,000 units and multiples of 5,000 units thereafter.

    Oyetan explained that investors could invest or dispose of units of the Fund by buying or selling in the secondary market or through creation and redemption of the units in the primary market, adding that creation and redemption of the Fund could only be done by the Fund Manager when it is in excess of 500,000 units.

    He said that units of the Fund could be created or redeemed either in kind or cash or combination of both.

  • Stanbic IBTC Asset Management supports Foundations

    Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings, has made donations to two leading Foundations to support the less privileged in the areas of education and healthcare.

    The firm donated N1 million to Thoughtful House Foundation and N500,000 to LOTS Charity Foundation, to enable them cater for the needs of the less privileged. LOTS Charity Foundation is focused on education and community development while Thoughtful House Foundation is focused on providing support on the education and therapy of children with Autism.

    Speaking at the cheque presentation ceremony in Lagos  Chief Executive Officer of Stanbic IBTC Asset Management Limited, Mr. Olumide Oyetan, said the gesture is in line with the firm’s commitment to value-driven corporate social responsibility, designed to make positive impact on the wellbeing of the communities where it operates.

    “These interventions fit into the architecture of Stanbic IBTC Group’s corporate social investments (CSI) efforts,which focus on education, health and economic empowerment. We believe strongly in adding value to the communities in which we operate, and we will continue to identify partnerships that are pivotal in achieving these objectives,” he said.