Stanbic IBTC

Posted on February 11, 2017 by Onome Ohwovoriole

Access Bank Divests From Stanbic IBTC Pension

In a statement to the Nigerian Stock Exchange (NSE), Access bank plc announced its divestment from Stanbic Ibtc Pension Managers Limited (SIPML). The divestment is in compliance with CBN regulation. Attached below is a copy of the notice. This notice was sent to the NSE on Friday the 10th of February 2017.

Posted on January 30, 2017 by Nairametrics

Nigeria Approaches Goldman and Stanbic IBTC To Help Sell Diaspora Bond

Reuters is reporting that Nigeria has asked Goldman Sachs and Stanbic IBTC to advise it on the sale of a debut “diaspora bond”. This was based on information obtained from Stanbic IBTC. The diaspora bond is  targeted at Nigerians living abroad. Learn about Diaspora bonds here Nigeria plans to raise between $100 million to $300 Read More

Posted on January 26, 2017 by Nairametrics

CORPORATE ACTION: Stanbic IBTC Holdings Appoints Chief Executive

The Board of Stanbic IBTC have announced the resignation of Mrs. Sola David – Borha as Chief Executive to take up a new role as Chief Executive (Rest of Africa) at the Standard Bank Group in South Africa. Her resignation took effect on Thursday 19 January 2017. The Board also announced the appointment of Mr Read More

Posted on December 22, 2016 by mudeerat olawunmi

Alert: Stanbic IBTC Earnings Up By 57% (2016 9 Months)

Stanbic IBTC released its 2016 result for the nine months ended 30 September 2016 ; See below     Net interest income N’million   2016 9 Months | N39,089   2015 9 Months | N32,929   %age Change|      19%     Pre-tax profits N’million   2016 9 Months| N25,688   2015 9 Months| N15,367   %age Read More

Posted on December 22, 2016 by mudeerat olawunmi

Alert: Stanbic IBTC Pre-tax Profit Up By 53% (2016 H1)

Stanbic IBTC released its 2016 result for the year ended 30 June 2016 ; See below     Net interest income N’million   2016 6 Months | N22,849   2015 6 Months | N22,135   %age Change|       3%     Pre-tax profits N’million   2016 6 Months| N14,625   2015 6 Months| N9,537   %age Read More

Posted on December 22, 2016 by Nairametrics

Alert: Stanbic IBTC Profit After Tax Up 85% (2016 Q1)

Stanbic IBTC Plc released its 2016 first quarter result as at 31st March 2016; See below   Net interest income N’million 2016 3 Months | N10,550 2015 3 Months | N10,701 %age Change|      -1%   Profit after tax profits N’million 2016 3 Months| N7,791 2015 3 Months| N4,214 %age Change|      85%   EPS Read More

Posted on December 22, 2016 by Nairametrics

ARM Issues “Sell Rating” For Stanbic IBTC

The research unit of ARM Pensions has placed a “sell” rating on Stanbic IBTC following the release of its 2015 FY results. The bank had delayed the release of the results due to a legal tussle it had with the Financial Reporting Council over licensing fees with its parent company. ARM notes that while the Read More

Posted on April 8, 2016 by PAT MELIK

Stanbic, ARM, Zenith & Afrinvest Equity Mutual Funds Record Worst Returns In 2015

If you are a Nigerian equity market investor and for whatever reason chose to invest your money through mutual funds in 2015, it would have made a whole lot of sense to avoid equity mutual funds sponsored by Stanbic IBTC, Zenith Bank, Afrinvest and ARM. In 2015, the worst performers according to SEC data analysed Read More

Posted on March 30, 2016 by Rencap

Stanbic IBTC vs FRC: Buy, Sell or Hold?

Stanbic IBTC continues to face challenges from the Financial Reporting Council (FRC). The bank recently released a notice on the Nigerian Stock Exchange (NSE) that a case instituted by the FRC at the Court of Appeal is ongoing. Owing to this and continued discussions with Stanbic’s auditors on the treatment of certain items, the results Read More

Posted on March 25, 2016 by Reginald Chukwu

Stanbic Postpones Release Of Results, Claims FRCN Has A ‘Fake Result’

Stanbic IBTC has informed the Nigerian Stock Exchange, shareholders and investors that it will not be submitting its 2015 annual report within the NSE stipulated period. The bank claimed that its decision to postpone the release of its results was because of the reporting challenges experienced with the Financial Reporting Council of Nigeria (FRC) in 2015. Read More

Posted on February 23, 2016 by Pat Melik

Atedo Peterside Takes A Major Swipe At Buhari’s Forex Policy

The Federal Governments exchange rate policy is unsustainable and a threat to Nigeria’s macro-economic stability , says Atedo Peterside Chairman of Stanbic IBTC Holdings Plc. Peterside who delivered the welcome address at the Standard Bank Seventh West Africa Investors’ Conference that began today(Tues, Feb 23) said: “The greatest policy uncertainty of all remains and that Read More

Posted on December 23, 2015 by Olarinmoye Segun

Stanbic IBTC Non-Executive Director Appointed By Buhari Withdraws Her Earlier Resignation From The Bank

Stanbic IBTC Holdings Plc has informed the Nigerian Stock Exchange (NSE) of the withdrawal of the letter of resignation of Mrs. Maryam Uwais MFR as a Non-Executive Director on the Board. The bank had earlier written the NSE on the 9th of December, informing the exchange of the resignation of Maryam Uwais MFR as an Read More

Posted on December 22, 2015 by Olarinmoye Segun

Stanbic IBTC appeals Court ruling on Starcomms Private Placement, Says It Did Not Misrepresent Any Facts

Stanbib IBTC said it exercised its constitutional right of appeal in relation to a judgment given by the Honourable Justice John Tsoho of the Federal High Court, which ordered the bank and Starcomms to pay the sum of N1.3 billion plus interest for alleged breach of a 2008 contract in a suit involving a former Read More

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Posted on December 15, 2015 by Olarinmoye Segun

Stanbic IBTC Losses Round One to FRC

The federal high court has delivered an oral judgment dismissing proceedings issued by Stanbic IBTC Holdings Plc (Stanbic IBTC’) against the Financial Reporting Council of Nigeria (FRC) and National Office for Technology Acquisition and Promotion (NOTAP). Mr Justice Buba while delivering the judgment held that the questions raised by Stanbic IBTC regarding FRC were hypothetical and academic and Read More

Posted on November 5, 2015 by Nairametrics

[BOOM] Judge Restraints FRCN From ‘Obstructing Stanbic Operations’

The controversial suspension of two directors of Stanbic IBTC by the Financial Reporting Council (FRCN) took another turn yesterday as the Federal High Court in Lagos yesterday restrained the FRCN a from obstructing the operations of Stanbic IBTC Holdings Plc. According to the Nation Newspaper, Justice Ibrahim Buba granted an order of interlocutory injunction restraining it Read More

Posted on November 4, 2015 by Nairametrics

The CBN Governor Has Joined Stanbic In Issuing FRCN A Stinker

The Central Bank of Nigeria has waded into the controversy between the Financial Reporting Council of Nigeria (FRCN) and Stanbic IBTC over the suspension of the bank by FRCN. Being, the regulator for financial institutions in the country, FRCN had requested that the CBN “take disciplinary action against the bank” following its findings that the misstated Read More

Posted on November 2, 2015 by Reuters

Fitch Confirms FRC Probe Will Not Affect Its Stanbic Ratings Except If This Happens

Fitch Ratings believes that the recent alleged irregularities raised by Nigeria’s Financial Reporting Council (FRC) into Nigerian Stanbic IBTC Bank Plc’s (SIBTC; AAA(nga)) financial reporting for 2013 and 2014 have not affected the propensity of its South African majority shareholder, Standard Bank Group Limited (SBG; BBB/Negative) to support SIBTC and Stanbic IBTC Holdings Plc (SIBTCH; Read More

Posted on November 2, 2015 by Nairametrics

KPMG Says It Stands By Its Audit Opinions on StanbicIBTC Financial Statements

KPMG Professional Services says it stands by its audit opinions on Stanbic IBTC’s 2013 and 2014 financial statements. In a statement by its Nigeria Partner & Chief Operating Officer, Yomi Sanni, the firm said it disagreed with the decision taken by the Financial Reporting Council (FRC), as it does not reflect the true position in Read More

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