How Stanbic IBTC Facilitated $589.84m Capital Inflow Into Nigeria – Sanni
By Iheme Kelechi 30 days ago
Photo Detail: (Mr Yinka Sanni, Chief Executive Officer, Stanbic IBTC)
Yinka Sanni, Chief Executive Officer, Stanbic IBTC Holdings PLC, has assured Nigerians that Stanbic IBTC Bank remains strong, stable and sustainable in its operations, saying that the bank has been able to facilitate a staggering $589.84 million capital inflow into the country during the second quarter of this year.
Stanbic IBTC Holdings PLC posted a profit of N36 billion for the half-year which ended June 30, 2019 and rewarded shareholders with an interim dividend of N10.2 billion at 100 kobo per share.
“We remain committed to operating to the highest level of corporate governance standards while delivering sustainable long-term value to clients and other stakeholders through world-class innovative operations and our customer-centric approach,” Sanni assured.
According to the Chief Executive Officer, the Group’s achievements are an indication that its strategy is delivering on set goals and objectives. He assured that the organisation will continue to invest in its people, processes, and its communities to ensure business sustainabilityRelated: New IMF Managing Director Advocates For Equality At Work Places
He added that in 30 years, Stanbic IBTC has built a culture of excellence in providing its clients with innovative financial products and services as well as contributing to the attainment of the developmental aspirations of the country.
According to Sanni: “Stanbic IBTC has grown steadily from its early days as a merchant bank to a leading end-to-end financial services provider in the country today, with a balance sheet size close to N2 trillion and a market capitalisation valued at approximately N500 billion in December 2018.”
He explained that the bank, in a clear demonstration of its confidence in Nigeria, facilitated a staggering $589.84 million capital inflow into the country during the second quarter of this year. Indeed, it ranked first among financial institutions that imported capital into Nigeria.
Sanni said the bank is equally determined to help grow and develop a vibrant and productive youth population through sponsorship of projects such as the Higher Institutions Football League (HiFL) billed to run till 2023.
Stanbic IBTC is a Nigerian company which had its roots in Investment Banking & Trust Company PLC, formed on February 2, 1989, with AtedoPeterside, CONas the first Chief Executive. The company has since evolved into a full-service financial institution with nine subsidiaries all headed by Nigerians.
Stanbic IBTC Holdings PLC has an estimated staff strength of approximately 4,000, 99.9 percent of whom are Nigerians. Additionally, eight of Stanbic IBTC Holdings PLC’s ten-member board members are Nigerians.