Stanbic IBTC Holdings Plc’s Board of Directors has announced the appointment of Barend Johannes Kruger as a Non-Executive Director. The company disclosed in a statement to the Nigerian Stock Exchange (NSE).
Following the receipt of all required regulatory approvals, Kruger’s appointment took effect from January 18, 2019.
Barend Johannes Kruger’s profile at a glance
Kruger has had an extensive career in the financial services industry spanning over 30 years. He joined the Standard Bank Group (SBG) in 1985, taking up various roles in Standard Corporate and Merchant Bank (‘SCMB’).
Between 2006 and 2008, he held the position of Chief Executive of Global Corporate & Investment Banking (CIB) and assumed the position of Deputy Group Chief Executive of SBG in 2009.
From March 2013 to September 2017, Kruger was Joint Group Chief Executive of SBG alongside Sim Tshabalala. He recently retired as an Executive Director from the Boards of SBG and Standard Bank of South Africa on 31 December 2018.
Prior to his retirement, he was responsible for the leadership, management and governance of Africa Regions; guiding the digitisation of the group; the group’s relationship with its strategic partner ICBC; helping with the management of the Group’s risks; and key client relationships.
Kruger is an alumnus of the University of Pretoria where he obtained a Bachelor of Commerce (Honours) degree. He has undertaken the Harvard Business School’s Advanced Management Programme and he is also a Chartered Accountant.
Stanbic IBTC’s performance
Results for the nine months ended September 30, 2018, show Gross Earnings increased from N154 billion in 2017 to N168 billion in 2018. Profit before tax rose from N45.6 billion in 2017 to N70.3 billion in 2018. Profit after tax also jumped from N37.6 billion in 2017 to N59.7 billion in 2018.
Stanbic IBTC closed trading on Friday at N47.50 on the floor of the NSE.
Stanbic IBTC Bank Plc provides personal and commercial banking products and services in Nigeria and the rest of West Africa. The company offers current, domiciliary, offshore, mobile money, foreign currency, biz smart, call, savings, fixed deposit, and money market accounts; and also credit, prepaid, and debit cards.