Stanbic IBTC Holdings, commonly referred to as Stanbic IBTC, is a financial service holding company in Nigeria with subsidiaries i
BankingStock Brokerage
Investment Advisory
Asset Management
Investor Services
Pension ManagementTrusteesInsurance Brokerage
an
life Insurance businesses
The company's corporate headquarters, I.B.T.C. Place, is situated at Walter Carrington Crescent, Victoria Island,

Lagos Lagos (Nigerian English: ; ) is the largest city in Nigeria and the second most populous city in Africa, with a population of 15.4 million as of 2015 within the city proper. Lagos was the national capital of Nigeria until December 1991 fo ...

. Stanbic IBTC Holdings is a member of the

Standard Bank Group Standard Bank Group Limited is a major South African bank and financial services group. It is Africa's biggest lender by assets. The company's corporate headquarters, Standard Bank Centre, is situated in Simmonds Street, Johannesburg. History ...

, a financial services giant based in

South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring coun ...

. Standard Bank is Africa's largest banking group ranked by assets and earnings, operations in 20

Africa Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area ...

n countries and 13 countries outside Africa.

Overview

Stanbic IBTC Holdings PLC. came to being as the result of a merger between Stanbic Bank Nigeria Limited and IBTC Chartered Bank Plc. in 2007, then adopting a holding company structure in 2012 to comply with the revised regulatory framework advised by the Central Bank of Nigeria, requiring banks to either divest from non-core banking financial services or adopt a holdings' company structure.

Before the Merger

IBTC Chartered Bank Plc.

Investment Banking & Trust Company Plc (IBTC) was formed as an investment bank on 2 February 1989 with Atedo N.A. Peterside as

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especiall ...

. In 2005, the

Central Bank of Nigeria The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are ...

announced its re-capitalization program for commercial banks. This meant that all commercial banks had to have a NGN 25 billion minimum capital base. This CBN order led to the merger of Investment Banking and Trust Company (IBTC) with Chartered Bank Plc and Regent Bank Plc on 19 December 2005 to form IBTC Chartered Bank Plc with a total asset base NGN 125 billion and listed on the

Nigerian Stock Exchange The Nigerian Stock Exchange (NSE) now Nigerian Exchange Group is a Nigerian stock exchange founded in 1961 in Lagos. As of November 2019, it has a total of 161 listed companies, with 8 domestic companies on the premium board, 144 companies on the ...

Stanbic Bank Nigeria Limited

Stanbic Bank Nigeria Limited was founded in 1991 when Standard Bank Investment Corporation (

Stanbic Bank Standard Bank Group Limited is a major South African bank and financial services group. It is Africa's biggest lender by assets. The company's corporate headquarters, Standard Bank Centre, is situated in Simmonds Street, Johannesburg. History ...

), acquired the African operations of

ANZ Grindlays Bank The historic overseas bank was established in London in 1828 as Leslie & Grindlay, agents and bankers to the British army and business community in India. Banking operations expanded to include the Indian subcontinent, the Middle East and elemen ...

. The name was later changed to Stanbic Bank Nigeria Limited and was a wholly owned subsidiary of Stanbic Africa Holdings Limited (SAHL).

The Merger

On 24 September 2007, IBTC Chartered Bank Plc merged with Stanbic Bank Nigeria Limited. Stanbic Africa Holdings Limited (SAHL)on behalf of

Standard Bank Standard Bank Group Limited is a major South African bank and financial services group. It is Africa's biggest lender by assets. The company's corporate headquarters, Standard Bank Centre, is situated in Simmonds Street, Johannesburg. History ...

tendered an offer for the acquisition of additional IBTC shares in order to attain majority shares in the merged business. This resulted in SAHL having a majority shareholding 50.75% up from 33.33% as at the merger date. The business name was subsequently changed to Stanbic IBTC Holdings Plc and resumed trading on the NSE.

Member Companies

The companies that comprise Stanbic IBTC Holdings include the following: * Stanbic IBTC Bank – A commercial bank in Nigeria, serving individuals and businesses, and regulated by the Central Bank of Niger

* Stanbic IBTC Pension Managers Limited – A leading Pension Fund Administrator (PFA) in Nigeri

* Stanbic IBTC Asset Management Limited – Providing asset management services. It was incorporated in 199

* Stanbic IBTC Stockbrokers Limited – Providing Stock brokerage servic

* Stanbic IBTC Trustees Limited – Specializes in trusteeship and estate managemen

* Stanbic IBTC Capital Limited – Offers Investment banking service

* Stanbic IBTC Insurance Brokers – Operates as the insurance brokerage arm of the grou

*Stanbic IBTC Insurance Limited – Provide Insurance services

*Stanbic IBTC Nominees – Acts as custodian in money market and fixed income securities for the Nigerian marke

Ownership

The

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a compan ...

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

Governance

The running of Stanbic IBTC Holding is overseen by a 12-person board of directors (9 non-executive and 3 executive) with Mr. Basil Omiyi as the

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group ...

References

{{reflist, colwidth=30em

External links

Stanbic IBTC Holding

Standard Bank Group
Banks of Nigeria Standard Bank Group Banks established in 1989 Companies based in Lagos Financial services companies established in 1989 Holding companies of Nigeria Nigerian companies established in 1989 Nigerian subsidiaries of foreign companies