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Tag: Stanbic IBTC

  • Stanbic IBTC sustains CSR initiative

    Stanbic IBTC sustains CSR initiative

    Stanbic IBTC Bank has reiterated its commitment to  instilling hope and bringing about life-changing transformations to the people in places of its operation.

    By firmly prioritising humanity and taking decisive action to address vital needs, the organisation’s “Together4ALimb” initiative has a significant and positive effect on the lives of those who need it the most. The scheme has mpacted the lives of 45 Nigerian children, offering them a renewed sense of hope and purpose.

    In a heartwarming display of Corporate Social Responsibility, Stanbic IBTC Bank marked its ninth anniversary of supporting children living with limb loss through its impactful “Together4ALimb” initiative. The commemoration took the form of a walk awareness programme held at the weekend at the bank’s headquarters in Victoria Island, Lagos.

    Since its inception in 2015, the initiative has touched the lives of 100 children across all 36 states of the federation, including the Federal Capital Territory. A significant milestone has been reached, with 45 children now equipped with orthotic limbs, each supported with a sum of N1.5 million.

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     Head of Brand and Marketing at Stanbic IBTC, Bridget Oyefeso Odusami, expressed the emotional journey of witnessing these children regain hope and embrace life through the provision of protective limbs. 

    Speaking at the anniversary walk, she shared, “The journey of walking together for a limb has been very emotional for me. Witnessing children gain a renewed sense of life, knowing that we’ve provided them with protective limbs, is truly gratifying.”

    Odusami further highlighted the educational support provided, saying, “What is more exciting is that we keep these children in school. We offer an educational trust fund of 1.5 million naira per child until they reach 18 years, ensuring they have the opportunity to pursue higher education.”

    The commitment of Stanbic IBTC to these children goes beyond physical support, extending to their education and future aspirations. As Bridget Oyefeso proudly stated, “I am glad to be working for a brand that cares about children and giving them another lease on life.”

    In a testament to the impact of Stanbic IBTC’s initiative,  Founder and CEO of Ifeanhealth, Ejike Anih, emphasized the importance of prosthesis orthotic in Nigeria, particularly for children facing limb challenges. He commended Stanbic IBTC for consistently sponsoring the “Together4ALimb” program for the past nine years, applauding the recent expansion to benefit 100 children.

    Vice Consul to Germany, Violavan Loock, acknowledged Stanbic IBTC’s investment in orthotic technology, lauding its commitment to quality and excellence. The technology, developed with German engineering, reflects a deep understanding of the human experience and a commitment to improving lives.

  • Stanbic IBTC Pension FUZE Talent Show wins award

    Stanbic IBTC Pension FUZE Talent Show wins award

    Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings and leading Pension Fund Administrator (PFA) in Nigeria has announced receipt of the Judges’ Choice Award for Excellence and Innovation in the Communication and Engagement category at the WorldPensionSummit.

    In a statement by the PFA, the recognition was for the 2022 FUZE Festival organised by Stanbic IBTC Pension Managers in its attempt to meaningfully engage Nigerian youths through its talent show and festival.

    The PFA stated that the award ceremony took place recently at the renowned Louwman Museum in The Hague, The Netherlands, as part of the Pensions & Investments WorldPensionSummit 2023. The event served as a platform for industry leaders, experts, and innovators to convene, exchange knowledge, and recognise exceptional achievements in the global pension industry.

    Chief Executive, Stanbic IBTC Pension Managers, Olumide Oyetan said: “The WorldPensionSummit Judges’ Choice Award highlights and celebrates outstanding initiatives and proven solutions in pension. An external expert jury meticulously evaluated all nominations in the various categories and Stanbic IBTC Pension Managers was shortlisted as nominated finalist in three categories – Pension Fund Design and Reform; Investments; and Communication and Engagement. The company was recognised alongside 32 other finalists and 10 winners from 17 countries.

    “Stanbic  IBTC Pension Managers won the Award for Excellence and Innovation in the Communication and Engagement category. According to the Judges, Stanbic IBTC Pension Managers’ FUZE is bold and personal in the way it reaches out to new generations. It is well set up and prepared, it involves the relevant stakeholders and is an example of out-of-the-box thinking in the pension and financial sector.

    This award recognises Stanbic IBTC Pension Managers’ commitment to delivering innovative solutions in the pension industry.

    Read Also: Stanbic IBTC Insurance unveils comprehensive funeral expenses cover

    “We are honoured to receive the Judges’ Choice Award for Excellence and Innovation in Communication and Engagement. This achievement underscores our continuous dedication to employing cutting-edge strategies and technologies to enhance the perception of pension and the financial industry in Nigeria and globally. We will continue to champion initiatives that foster positive youth engagement, provide our valued pension contributors with seamless experiences, and empower them to make informed decisions for a financially secure future.”

    Olumide thanked the judges, organisers, and participants at the Pensions & Investments WorldPensionSummit 2023; the exceptional staff of Stanbic IBTC Pension Managers; as well as clients, stakeholders, and Nigerian youths for their passion and dedication to excellence.

    Olumide further remarked that FUZE 2023 will be even bigger and better. He said “We are taking things a notch higer this year as the 2023 editon features a two-week boot camp period with 28 finalists competing, honing their skills and engaging with industry experts to aid their overall development. As with 2022, the finals will hold in December and winners will be unveiled at the FUZE Festival which will also feature a vibrant marketplace and live concert.”

    The Chief Executive invited the general public to engage with the FUZE Festival on digital and social media platforms; inviting them to download the Stanbic IBTC Events App so they can register to attend the FUZE Festival scheduled to hold 23 December 2023.

  • Stanbic IBTC Insurance unveils comprehensive funeral expenses cover

    Stanbic IBTC Insurance unveils comprehensive funeral expenses cover

    Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC Holdings PLC, has unveiled its latest insurance product, the Sunset Benefit Plan, to help customers celebrate a life well spent and provide comprehensive funeral expenses coverage and financial security during bereavement or loss of their loved ones. This innovative insurance solution will transform the industry and bring peace of mind to policyholders and their families.

    Akinjide Orimolade, Chief Executive, Stanbic IBTC Insurance Limited expressed his excitement about the Sunset Benefit Plan, emphasising its importance in financial planning.

    He stated, “Having a comprehensive funeral expenses cover is a crucial part of financial planning as it ensures that you are not caught unprepared when the unexpected happens. With the Sunset Benefit Plan, we are thrilled to introduce an insurance product that eases the burden of funeral expenses with the passing of a loved one. With this plan’s flexibility and customisation options, individuals can tailor their coverage to match their unique financial situations.

    “The Sunset Benefit Plan offers a wide range of benefits, making it a comprehensive solution for funeral costs. It covers policyholders and their loved ones, including spouses and parents or parents-in-law, with a next birthday age of up to 75 years at entry into the policy. The loved ones can be added through extra premium payments, allowing for a personalised experience.”

    Premium for the Sunset Benefit can be paid within a five-year period or paid till the age of 70 for policy holders who take up the policy after age 65.

    Titi Ogungbesan, Executive Director, Business Development at Stanbic IBTC Insurance Limited, highlighted the various additional benefits for policyholders.

    These additional benefits include cover for interment, grocery, catering, childcare, and a cashback benefit applicable to payment plans up to age 70.

    This cashback feature allows policyholders to receive a refund equivalent to 12-month premiums every five years, provided premiums are up-to-date and no claims have been made on the policy.

    The plan allows for payment of the benefit on the death of loved ones who are covered under the plan.

    Read Also: Stanbic IBTC Bank supports SMEs’ growth, development

    The policy holder will choose the benefit payable upon the occurrence of death. The plan also allows for waiver of premium where the policy holder passes on before the other beneficiaries.

    This applies if premium has been paid consistently for 12 months before death. 

    The benefit in this situation will also be paid on the lives of the loved ones. 

    This comprehensive funeral cover perfectly aligns with Stanbic IBTC Insurance Limited’s mission of empowering individuals to secure their future with creative risk management solutions that enable clients to create, protect, and preserve wealth.

    Stanbic IBTC Insurance Limited is a leading insurance provider in Nigeria, offering innovative and comprehensive insurance products to secure individuals’ financial futures.

    As a subsidiary of Stanbic IBTC Holdings PLC, the company is committed to providing top-notch insurance solutions and empowering clients to achieve their life goals.

    The Sunset Benefit Plan is now available for interested individuals seeking financial security and peace of mind during life’s most challenging moments. With Stanbic IBTC Insurance Limited’s trusted track record in financial services and prompt claims management, policyholders can be confident that they are fully covered.

  • Stanbic IBTC Bank supports SMEs’ growth, development

    Stanbic IBTC Bank supports SMEs’ growth, development

    Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC and a renowned financial institution have concluded their SME Collab Market Storm events.

    The events was attended by over 5,000 individuals, including entrepreneurs and businesses.

    The participants engaged with Stanbic IBTC Bank in its array of  products and services.

    The SME Collab Market Storm  spanned across major cities, which included Ibadan, Abuja, Port Harcourt, and Onitsha.

    The initiative was a part of Stanbic IBTC Bank’s strategy to support entrepreneurs.

    Read Also: Stanbic IBTC Bank supports SME growth, development

    Participants benefited from free FIRS tax registration, account opening, digital onboarding, and loan access education.

     Market leaders praised the bank’s commitment to empowering SMEs.

    Comrade Sarumi Fatai, Chairman of Zone 1 Gbagi Market, said: “We are pleased and grateful to Stanbic IBTC Bank for bringing this market storm initiative to our market. They have shown us that they care about our welfare and our businesses. They have given us access to loans, savings, insurance, and other financial services to help us grow and prosper.’’

     We thank them for their generosity and support.”

     Casimir Obilor, Chairman of Kubwa Village Market in Abuja, stated that Stanbic IBTC Bank stormed the Kubwa market with amazing offers and benefits they could not afford to miss. “They educated us on how to manage our finances, how to protect our assets, how to access credit and how to plan for the future. They have also rewarded us with gifts and prizes for opening accounts with them. We appreciate their kindness and partnership.”

     Likewise, Collins Owhonda Junior, Chairman of Mile 3 Market in Port Harcourt, was delighted and impressed by Stanbic IBTC Bank’s market storm initiative. He said the Bank brought a lot of value and opportunities that will make a difference in the lives and businesses of every market woman. “They have provided us with solutions enabling us to save, borrow, invest, and insure our businesses.” He added.

     Furthermore, it was noteworthy that other subsidiaries under the Stanbic IBTC umbrella, including Stanbic IBTC Insurance, Pension, and Asset Management, actively participated in the market storm events. This collaboration demonstrates the Bank’s holistic approach to providing various financial solutions to cater to every aspect of SME growth.

     While speaking about the success of the market storms, Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, stated that the Bank recognised the immense potential of the enterprise market and has remained committed to supporting its customers, ensuring that its financial needs are met at every stage of their entrepreneurial journey.

     Wole stated, “Our range of financial solutions, combined with our unparalleled expertise and tailored support, will enable these enterprises to overcome obstacles and maximise their growth potential. We expanded our digital solutions to ensure seamless banking experiences for entrepreneurs. Our enhanced Stanbic IBTC Enterprise Online platform provides entrepreneurs access to various banking services, empowering them to manage their finances efficiently from the comfort of their shops, offices or homes.

  • Stanbic IBTC gets awards

    By Our Reporter

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has won three awards at the All-Africa Employee Engagement Awards held in Sandton, Johannesburg, South Africa.

    The awards reward individuals and businesses for contributions to the development of employee engagement and the future of work on the African continent.

    Stanbic IBTC Holdings emerged winner in three of the 12 categories. The organisation won in the Customer and Employee Experience and Major Corporate Engagement Company of the Year categories.

    Mrs. Olufunke Amobi, Country Head, Human Capital at Stanbic IBTC was also awarded the  Employment Engagement Professional of the Year.

    The All-Africa Employee Engagement Awards attracted entries from firms across the African continent.

    Mrs. Amobi described the awards as a testament to the fact that Stanbic IBTC is a great place to work and provides a conducive environment for employees to thrive and excel.

    She said: “The awards recently won by Stanbic IBTC is a reflection of the values which we represent. We are very much interested in the growth and development of our employees; we promote respect for each other and we uphold the highest levels of integrity. We also encourage the culture of team bonding in addition to inspiring our employees to constantly raise the bar.”

    She added that the awards would spur the Human Capital team of Stanbic IBTC Holdings to achieve more successes in the coming years.

  • Stanbic IBTC unveils ACAP

    Stanbic IBTC Bank has launched an Africa-China Agent Proposition (ACAP), which aims to assist importers source and validate quality goods, safely and efficiently, from the most competitive suppliers in China.

    The ACAP offering is expected to revolutionise African importers’ view of China’s supplier universe. It will also ease the cash flow of African importers by providing access to financing while empowering importers with sight and control of the entire importing and logistics process.

    The offering, expected to connect African importers and Chinese exporters and open China to Africa, was  launched in Nigeria on  May 21.

    It will also be launched in Ghana and South Africa with other markets in Standard Bank’s African footprint to follow before the end of the year.

    Importers order from only some trusted Chinese suppliers. This limits the negotiating power of African importers while stacking the terms of trade against them. While ordering online provides access to a wider range of suppliers, online imports cannot guarantee the quality of goods. In most cases too, advance payments for goods is required. This is often demanded in cash, without reciprocal guarantees of delivery or quality. This means that Nigerian importers often carry a disproportionate burden of risk in most transactions.

  • Stanbic IBTC wins regional pension, wealth management awards

    Stanbic IBTC Holdings Plc has won the Best Asset/Fund Management firm and Best Private Banking Business in Wealth and Society West Africa at the Global Wealth and Society Awards West Africa 2019.

    The awards further validated Stanbic IBTC’s standing as a leading end-to-end financial services organisation with market leadership across segments, including wealth management, corporate and investment banking, pension fund administration, stockbroking, custody, trusteeship and others.

    Stanbic IBTC Asset Management Limited won the Best Private Banking Business in Wealth and Society in West Africa, while Stanbic IBTC Pension Managers Limited picked the Best Asset/Fund Management Company in Wealth and Society, also in the West Africa category.

    The award ceremony held in conjunction with a Roundtable Dialogue, which comprised private bankers, impact investors and related parties, at the Eko Hotel, Lagos. These new accolades complement the numerous recognitions awarded to both companies in 2018.

    Stanbic IBTC Pension Managers Limited Chief Executive, Mr. Eric Fajemisin, said being singled out among peers is gratifying and: “we are very pleased to have been selected for recognition as the Best Asset/Fund Management Company in West Africa”.

    He added: “It is another prestigious award made possible by our esteemed and loyal customers. Our customers constantly challenge us through their patronage and positive feedback, allowing us to push the envelope in innovative service to ensure they get full benefit of partnering with us.”

    Stanbic IBTC Asset Management Limited Chief Executive, Mr. Oladele Sotubo, expressed the firm’s delight for being recognised by such a reputable and credible organisation from a pool that included some of the industry giants in Africa.

    He said the awards further demonstrated Stanbic IBTC’s strength and desire to consistently provide best-in-class financial services solutions across all market segments by leveraging the expertise and rich heritage of the Standard Bank Group to which Stanbic IBTC Holdings belongs.

    “These awards are testaments to our capabilities and competences across all business segments, and speak to our unwavering dedication to consistently deliver innovative and robust solutions to our clients,” Sotubo said.

    The Global Wealth and Society programme, according to its promoters, opened in London in 2018  out of the belief that wealth can be a force for good. “As such, we look for instances everywhere in the world where wealthy individuals, institutions and funds were targeted to make an impact in their local communities or the world at large,” he said.

    Stanbic IBTC Money Market Fund is the institution’s most profitable product as well as the largest open-ended mutual fund in Nigeria and Socially Responsible Investment Funds and its customer-centric strategy drove strong Assets Under Management (AUM) growth for firm.

    Stanbic IBTC Pension Managers Limited, on the other hand, is the country’s largest pension fund administrator with a proven record of finance tracking and the protection of investments. The company’s Retiree Fund 4 was the best performing fund in its category for 2018, with a YTD return of 15.54 per cent compared to the average of 12.66 per cent for Retiree Fund 4 in Nigeria.

    The company manages the largest Retirement Savings Account Fund (RSA) in Nigeria and is consistently providing products and services that meet customer, statutory and regulatory requirements. In addition to this, the PFA has continued to attract new clients, recording strong growth in AUM and a jump in high net worth clients in 2018.

  • Stanbic IBTC to invest in steel industry

    Stanbic IBTC and Standard Chartered Bank are set to invest in Nigeria’s steel and solid materials industry.

    Team leader of the Stanbic IBTC and Standard Chartered Bank team, Mark Buncombe, explained that the bank is looking for opportunities to invest in the mining sector.

    He spoke yesterday in Abuja when the team paid the Minister of State for Mines and Steel Development, Hon. Abubakar Bwari, a visit.

    He said: “The main aim of coming is to get a better understanding from the minister on the mining Industry, and the particular products that we should be looking out for as a bank especially iron ore and coal, and the additional opportunities that he will like the banking industry to support to grow the industry.”

    Bwari informed the team that Nigeria has about 44 minerals that have been identified like gold, barite, limestone, tin, lithium, pantalite and manganese, among others.

    The Minister also added that iron ore has been discovered in Katarogo, Kaduna State and that Nigeria has attained self-sufficiency in cement production, which it presently exports.

    The minister said: “This is what we have been looking for to fund the industry in Nigeria. Today, we are trying to find out how much minerals we have in commercial quantities. We presently have a project, the integrated exploration project, where we prioritise some minerals like gold, tin, among others to ascertain their commercial value so that we can have bankable data that can attract investors.

    “We have about 44 minerals that we have identified like gold, barite, limestone, tin, lithium, pantalite, and manganese, among others.

     

     

  • Stanbic IBTC launches micro pension campaign

    Following the formal launch of the micro pension plan (MPP) by President Muhammadu Buhari on  March 28,  Nigeria’s biggest pension fund administrator (PFA), Stanbic IBTC Pension Managers Limited, has taken the lead to unveil a game-changing nationwide micro pension campaign tagged ‘Game Plan – Retire Well.’

    The Chief Executive, Stanbic IBTC Pension, Mr. Eric Fajemisin at the Media launch of Retire Well – Informal Sector Pensions Product held in Lagos, said the effort is aimed at sensitising and stimulating the informal sector not covered by the current Contributory Pension Scheme (CPS) to secure their buy-in into the pension scheme.

    He stated that the micro pension scheme, in furtherance of the policy direction and ongoing reforms of Nigeria’s pension industry to extend the coverage of CPS to the informal sector and among other initiatives, is geared at building on the achievements recorded with the pension reforms over the past few years and capable of putting the industry on stronger footing going forward.

    He reiterated the company’s support for the ongoing reforms and other PenCom initiatives it said were necessary to maintain the strength and depth of Nigeria’s CPS.

    He also expressed their readiness and commitment to contributing their quota by putting in place strategic industry stakeholder engagements on ways to boost wider participation by Nigerians.

    He added that the media launch of ‘Retire Well’ is their callout to stakeholders to secure their future and reinforce the need to save and plan for retirement, irrespective of the nature of their jobs or the profession they may find themselves in.

    He said: “It is all about taking a decision today by signing up for a retirement plan, making the right move now towards a secure future or simply put having a game plan. The ‘Game Plan – Retire Well’, is targeted at the various tiers of demography in the informal sector: the upper class/skilled workers, the middle class/semi-skilled, and the lower class/unskilled.

    “It is meant to insulate those not covered in the formal sector of the economy as well as income earners in every category against old-age poverty and would help in deepening asset accumulation in the country. According to him, the scheme will also help provide the crucial capital required for investment in critical sectors of the economy. As an initiative designed to cover an estimated 70 percent of Nigeria’s working population, currently in the informal sector, the scheme offers enormous benefits to the society, regardless of challenges associated with its seamless implementation.

    “Among its other benefits is improved standard of living for the elderly, safety of funds and access to other incentives, flexible contribution remittances, the opportunity to make withdrawal prior to retirement and the enhancement of financial inclusion in the country.”

    Executive Director, Business Development, Stanbic IBTC Pension Managers Limited, Mrs. Nike Bajomo said the company intends to create awareness across the country about ‘Game Plan – Retire Well’ – micro pension scheme to drive adoption even as the PFA continues to engage various stakeholders on developments in the industry to ensure that the provisions of the CPS are fully harnessed to the benefit of all. Such platforms as town hall meetings, stakeholder’s fora, associations’ meetings, public awareness programmes and exhibitions on TV, Radio & Digital media, among other initiatives Stanbic IBTC Pension Managers will be organised yearly to ensure regular engagement and to drive awareness.

    “The PFA will not relent in providing excellent services to its RSA holders and Nigerians. Stanbic IBTC Pension Managers Limited has over 1.7 million Retirement Savings Account (RSA) holders nationwide, with assets under management in excess of N2.8 trillion. It paid N3.26 billion to over 55,809 retirees in March, 2019 and has paid out over N635 billion to retirees since the PFA began operations in 2006.

    “Stanbic IBTC Pension Managers Limited is a subsidiary of Stanbic IBTC Holdings, a member of Standard Bank Group, 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. The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 20.1% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets. Standard Bank Group is the largest African financial institution by assets. It is rooted in Africa with strategic representation in 20 countries on the African continent”, she noted.

  • NADDC partners Stanbic IBTC, Jaiz Bank on vehicle financing

    The National Automotive Design and Development Council (NADDC) in partnership with Stanbic IBTC Bank, WEMA Bank and JAIZ Bank, are putting finishing touch to a vehicle financing scheme aimed at  increasing  purchasing of locally made vehicles without 100 per cent  down payment.

    The Council said the arrangement will aid easier purchase of vehicles as the Nigerian auto policy places high premium on locally made vehicles as well as a finance scheme that makes vehicles easier for local cosumers.

    NADDC Director-General, JelaniAliyu who spoke at the weekend during the launch of the latest Honda H-RV Automobievehilcle in Abuja, said the initiative will promote the local auto industry.

    He said: “The National Automotive Policy is a set of fiscal incentives that has been developed to support local production of vehicles.

    “The only way we can ensure that Nigeria continues as a successful nation is to provide industrialisation and jobs. The only way we can provide jobs is to grow industries while supporting local and international investors to invest and produce in Nigeria.

    “The importance of the policy cannot be overemphasised as it supports local production. Presently Japanese investors are in Nigeria helping with the production of Made-in-Nigeria and producing in Nigeria. NADDC is also working in partnership with the National Assembly to ensure the automotive policy becomes a law.

    “The government will soon commence construction of seven automotive training centres in different geo political zones across the country, so young Nigerians can be trained on how to maintain vehicles with some measure of sophistications as most cars now have some measure of sophistication and some embedded ICT features in it.”

    “The vehicle we are launching today is perfect for this environment in terms of higher ground clearance with very good features.