Stanbic IBTC Bank History



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Stanbic IBTC Bank History

Stanbic IBTC Holdings PLC (“Stanbic IBTC”) was incorporated on March 14, 2012. Stanbic IBTC is the holding company of the entire Stanbic IBTC group and its subsidiaries. The Company was listed on the Nigeria Stock Exchange on 23 November 2012, after the Group’s former parent company, Stanbic IBTC Bank PLC (“the Bank”) was delisted in accordance with the Regulations. CBN Regulations on banking and ancillary activities. Case No. 3 2010. On the other hand, the Bank was incorporated under the name of Investment and Trust Banking Company Limited (“IBTC”), a limited liability company, on 2 February 1989. IBTC received its commercial banking license in February 1989 and commenced operations on March 1, 1989. . IBTC’s commercial banking license was converted to a global banking license in January 2002 under the Central Bank of Nigeria’s Global Banking Guidelines (“CBN”). In 2005, IBTC became a public company and its shares were listed on the Nigeria Stock Exchange (“The NSE” or “The Exchange”). In December 2005, IBTC merged with Chartered Bank PLC and Regent Bank PLC and changed its name to IBTC Chartered Bank PLC (“IBTC Chartered”) on 25 January 2006. On 24 September 2007, IBTC Chartered merged merged with Stanbic Bank Nigeria Limited (“Stanbic Bank”), a wholly owned subsidiary of Stanbic Africa Holdings Limited (“SAHL”), then a wholly owned subsidiary of Standard Bank Group Limited of South Africa. As part of the transaction that resulted in the merger of IBTC Chartered and Stanbic Bank, SAHL acquired a majority stake (50.1%) in the expansion bank, named Stanbic IBTC Bank PLC. On November 1, 2012, the Stanbic IBTC group officially adopted a joint stock company (“Holdco”) structure under CBN Regulation 3 2010, which required banks to divest from the banking business. not their core. or apply the HoldCo structure. Under the new structure, the subsidiaries of Stanbic IBTC Holdings PLC are:Stanbic IBTC Bank PLC, Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset Management Limited, Stanbic IBTC Trustees Limited, Stanbic IBTC Capital Limited, Stanbic IBTC Stockbrokers Limited, Stanbic IBTC Insurance Brokers Limited, Stanbic IBTC Ventures Limited and Stanbic IBTC Investments Limited. It should be noted that Stanbic IBTC Nominees Limited and Stanbic IBTC Bureau de Change Limited are wholly owned direct subsidiaries of Stanbic IBTC Bank PLC.

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The Bank Performance

Total assets as of March 31, 2022 increased 13% (356 billion yen) to 3.099 trillion yen from the December 2021 position, while operating profit for the first quarter of 2022 increased by 43% (16). 0.8 billion yen) to 55.8 billion yen in the same period last year.

 

Bank PLC’s long-term country ratings are Fitch Ratings AAA(Russia), S&P Global ngBBB and GCR AA+(NG).

 

Stanbic IBTC Holdings PLC’s national long-term rating is Fitch Ratings AAA(Russia)

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