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Tag: Stanbic IBTC

  • Stanbic IBTC Deepens Investors’ Participation In Stock Market

    Stanbic IBTC Deepens Investors’ Participation In Stock Market

    In deepening investors’ participation in the Nigerian capital market, Stanbic IBTC Stockbrokers, has removed the minimum stockbroking account-opening balance for individuals to allow zero set up amount via its mobile app or electronic trading (e-Trade) platform on its website.

     

    The organisation has taken it upon itself to enlighten and empower prospective investors, especially the millennial and Gen-Z demographics by providing the tools and opportunities for wealth generation and preservation offered through capital market investments.

     

    By removing the opening balance requirement and reducing its online brokerage fees, individual investors are encouraged to take advantage of this opportunity and enjoy the aspirational services provided by Stanbic IBTC Stockbrokers.

     

    The chief executive, Stanbic IBTC Stockbrokers, Titi Ogungbesan said, “This is a great opportunity for new and existing investors to take advantage of. This development will enable interested persons to invest in the Capital Market through Stanbic IBTC Stockbrokers at their own pace.

     

    “In addition to removing the minimum opening account balance, we have also reduced the brokerage fee for transactions executed via our online platforms from one per cent of the brokerage fees to 0.7 per cent; a 30 per cent reduction in commission charged.”

     

    Titi added that potential investors can make use of its self-service options available via the Stanbic IBTC Stockbroking App on the Google Play and Apple stores, as well as its e-Trading portal available.

     

    “Leveraging on technology, we have also made it easier to open a stockbroking account with us via our mobile and web platforms,” she stated.

     

    Stanbic IBTC Stockbrokers is a subsidiary of Stanbic IBTC Holdings Plc, and Nigeria’s largest stockbroking firm with a market share of over 10 per cent of the value of shares traded on the floor of the Nigerian Exchange Limited.

     

  • Stanbic IBTC: Why We Delayed Release Of Half Year Audit

    Stanbic IBTC: Why We Delayed Release Of Half Year Audit

    Stanbic IBTC Holdings Plc has explained the delay in the release of its half-year audited result for the period ended July 31.

     

    Mr. Chidi Okezie, the Company Secretary, said this in a notice posted on the website of the Nigerian Exchange (NGX) Ltd. in Lagos.

     

    The notice informed NGX Regulatory Ltd. and its stakeholders that the company was currently seeking approval from the Central Bank of Nigeria (CBN) to ensure the release of its audited half-year results ended July 31.

     

    The notice read: “This is to inform NGX Regulation Ltd. as well as our esteemed stakeholders that we are experiencing a slight delay in the release of the 2021 half-year audited financial statements for Stanbic IBTC Holdings Plc.

     

    “This delay is occasioned by the fact that we are currently seeking the approval of our primary regulator, the CBN for the half-year audited financial statements, following which the said financial statements will then be released to the market.

     

    “We are working diligently to ensure that our company’s half-year results are submitted to the NGX as soon we receive approval from our primary Regulator, the CBN; and this may occur before or shortly after the regulatory due date of  Aug. 29,” it explained.

     

  • Shareholders Still Showering Encomiums on Stanbic IBTC Over Dividend Pay-Out

    Shareholders Still Showering Encomiums on Stanbic IBTC Over Dividend Pay-Out

     

    Shareholders of Stanbic IBTC Holdings PLC have continued to laud the Group for their last dividend payout of 360 kobo per share for the financial year ended 31 December 2020, as well as the bonus shares of one for every six ordinary shares, approved at the last Annual General Meeting held in May 2021.

     

    Some of the shareholders who expressed their appreciation to Stanbic IBTC said that they were glad that despite all the socio-economic challenges of 2020, the Stanbic IBTC Group continued to keep many Nigerians in paid employment and continued to invest in communities within Nigeria via various Corporate Social Investment projects.

     

     “Indeed, the Stanbic IBTC Group deserves a lot of commendation” said Mr. Tunji Bamidele, one of the Company’s shareholders.

     

    The last audited results showed that Stanbic IBTC posted gross earnings of N234.446 billion against N233.808 billion in 2019. Stanbic IBTC ‘s deposits to customers improved from N819.944 billion to N637.840 billion, while loans and advances improved from N532.124 billion to N625.139 billion.

     

    Based on the results, the board recommended a final dividend of 360 kobo in addition to a bonus of one new share for every six ordinary shares already held. The shares of Stanbic IBTC jumped 9.9 per cent from N44.05 to N48.45 as investors reacted positively to the results and dividend declaration.

     

    Analysts at FSDH Merchant Bank Research had said the 6.6 per cent increase in total income to N198.9 billion recorded by Stanbic IBTC was primarily driven by a 14.7 per cent jump in non-interest revenue N124.7 billion.

     

    Non-interest revenue ascended 14.7 per cent, powered by a 43.4 per cent increase in trading income to N52.1.

     

    Mr Tunde Bamidele, a shareholder, expressed gratitude to the Board and Management of Stanbic IBTC for the steadfastness, hard work and dedication, which resulted in the N83 billion profit after tax for the 2020 financial year: and the subsequent 360 kobo dividend and allotment of bonus shares.

     

    He said: “I would like to express my gratitude to the Board of Directors, Management and members of Staff of Stanbic IBTC for a job well done. Despite the COVID-19 pandemic, the company declared a dividend of 360 kobo, which is impressive compared to other players in the financial industry. I would also like to thank you for giving us a bonus share for every six shares held. Indeed, the bonus dividend is robust.”

     

    Stanbic IBTC remains one of Nigeria’s foremost financial institutions. The financial institution’s Chief Executive, Dr Demola Sogunle, has pledged the organisation’s commitment to put in more efforts towards satisfying the company’s customers, clients, and shareholders.

     

  • Stanbic IBTC Partners Lagos Employment Trust Fund to Support SMEs

    Stanbic IBTC Partners Lagos Employment Trust Fund to Support SMEs

     

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has announced its partnership with the Lagos State Employment Trust Fund (LSEFT) to train Small and Medium-Sized Enterprises (SMEs) in entrepreneurship through a series of financial planning sessions, tagged “Managing Your Finances.”

     

    Stanbic IBTC, through its regular financial planning sessions, has trained individuals, entrepreneurs and business managers in personal and corporate finance and has thus enhanced their knowledge in the areas of wealth creation, and improved business management and financial management skills.

     

    Speaking on the partnership, Dr Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, noted that the collaboration between Stanbic IBTC and the LSEFT reflected the financial institution’s commitment to the growth and development of Nigerians and the economy.

     

    Commending the LSEFT for the promotion of entrepreneurship through improved access to finance, strengthened institutional capacity of SMEs and policies formulated to improve the business environment in Lagos State, Sogunle assured the LSETF of Stanbic IBTC’s resolute support in the development of SMEs in Nigeria.

     

    According to Sogunle, “This partnership is crucial because we will be taking beneficiaries through our highly specialised financial planning sessions where they will gain knowledge in different areas of financial management. We hope that the insights from this engagement will accelerate their entrepreneurial growth and empower them with the requisite financial knowledge to thrive in life and business. Stanbic IBTC embraces the opportunity to contribute to achieving the global sustainable development goals, amongst which are: reduction in the levels of poverty and hunger, economic growth and reduction in inequality.”

     

    The partnership has, not only supported entrepreneurs and business owners, but contributed to the achievement of the United Nations-backed Sustainable Development Goals (SDGs).

     

    Stanbic IBTC Holdings is an end-to-end financial services organisation and a part of the over 155-year old Standard Bank Group and is committed to enabling dreams and driving growth in Nigeria and across the African continent.

  • Stanbic IBTC Expands Services With Life Insurance Subsidiary

    Stanbic IBTC Expands Services With Life Insurance Subsidiary

     

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has introduced an insurance subsidiary – Stanbic IBTC Insurance, thereby adding to its ever-growing bouquet of financial services available to the public.

     

    The addition of the insurance subsidiary followed regulatory approvals as well as the issuance of a license from the National Insurance Commission (NAICOM) which granted the new entity the right to commence its business operations.

     

    Speaking at the launch of the new business, Akinjide Orimolade, Chief Executive, Stanbic IBTC Insurance stated that the new business will continue in the vision and tradition of the Group through the provision of innovative and customer-friendly insurance products.

     

    Stanbic IBTC Insurance has developed a variety of simple Life insurance products that will address the unique insurance needs of its customers.

     

    It will also facilitate long-term insurance for individuals by offering them innovative and seamless insurance solutions that can be accessed electronically with ease. This means that consumers will be able to purchase insurance products, make timely claims submissions quickly and efficiently from wherever they are.

     

    While commending the government and industry regulator – NAICOM, on the great achievements made in the insurance industry, Mr. Orimolade highlighted some improvements that would aid industry growth and enhance customer experience. At the top of the list would be for the National Insurance Commission to continue to collaborate with service providers to encourage the use of technology in delivering seamless insurance solutions to everyone.

     

    The Chief Executive also spoke on the low level of insurance penetration in the Nigerian market. He emphasised that there are bountiful opportunities to grow the Nigerian insurance market since less than 10 per cent of the Nigerian populace are currently insured, not to mention that more and more Small and Medium Enterprises (SMEs) are now seeking out insurance solutions. This is a clear indicator of room for growth in the industry. It will also be ideal for insurance to partner with Telcos to improve on the lives of customers.

     

    “The industry will develop as there will be an increasing need for business owners to prioritise insurance to protect their properties and lives,” Orimolade stated. He further highlighted the need to innovate and evolve to meet the changing needs of the insurance ecosystem and this is where Stanbic IBTC Insurance comes in.

     

    “The birth of Stanbic IBTC Insurance can be described as meeting a pressing need at the right time. The journey of a thousand miles, they say, begins with a single step and for us, several giant strides have been made. We are positive that this venture will bring smiles to the faces of our customers”; the Stanbic IBTC Insurance Chief Executive added.

  • Stanbic IBTC Gives N34.8m Scholarship to Successful UTME Students

    Stanbic IBTC Gives N34.8m Scholarship to Successful UTME Students

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has awarded scholarships to successful candidates in the 2019 and 2020 University Tertiary Matriculation Examinations (UTME).

     

    This was done as part of its aspiration to encourage hardwork and excellence in academic pursuit. The 87 beneficiaries were drawn from the 36 states of the federation and the FCT.

     

    The beneficiaries comprised of 39 candidates who participated in the 2019 UTME and another 48 candidates drawn from the 2020 UTME. Physically challenged yet brilliant candidates were also included.

     

    The presentation of the scholarships was conducted virtually on Thursday, 11 February 2021.

     

    In 2019, Stanbic IBTC announced its scholarship scheme to support, reward and encourage students who had excelled in their academic pursuit.

     

    The leading end-to-end financial solutions organisation said the initiative was in line with its commitment to value-driven corporate social investments, designed to contribute to youth’s educational development.

     

    The scholarship programme was introduced as part of the financial institution’s 30th anniversary celebration.

     

    Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, said the prosperity of the nation and its citizens was hinged on the youth’s educational development, and that the financial institution remained determined to provide the necessary support to brilliant students.

     

    He said: “Stanbic IBTC appreciates the fundamental role education plays in transforming society, which is why we have chosen to institute the scholarship to encourage hard work and academic excellence amongst Nigerian students who desire tertiary education. The scholarship will enable them to pursue and realise their dreams of academic excellence”.

     

    “The scholarship will be disbursed to the 87 students in yearly tranches for a period of four academic years. However, after the first tranche, subsequent disbursements will be subject to maintaining at least a second-class upper grade and evidence of good conduct confirmed by the school” Dr. Sogunle added.

     

    He further stated that “Education Trust Funds will be set up for the beneficiaries, and the funds will be accessed through the Education Trust accounts”.

     

    The beneficiaries were effusive in their appreciation of the gesture. A beneficiary, Hammed-Saruk Omogbolahan, who spoke during the virtual ceremony, thanked Stanbic IBTC for the scholarship.

     

    He said the scholarship would allow them focus on their education, and he assured that they would continue to strive for academic excellence to justify their selection.

     

    Education has remained a key focus area for Stanbic IBTC, and the financial institution has continued to play a leading role in transforming lives through education.

     

    Other scholarship initiatives organised by the financial institution include those awarded to indigent children who have suffered limb losses, under its signature CSI initiative tagged Together4ALimb.

     

    Stanbic IBTC is committed to identifying opportunities to help mould the next generation of leaders and help build a robust education sector that Nigerians can be proud of.