Stanbic IBTC Bank History
The Standard Bank Group (SBG) merged its Nigerian operations, Stanbic Bank Nigeria with that of IBTC Chartered Bank PLC (IBTC) on 24 September 2007. The merger, by way of the first ever tender offer in Nigeria and $525 million in foreign direct investment, was the largest in Nigerian financial history. The Standard Bank Group, which has a controlling stake of 52.8% in Stanbic IBTC, has been in business for 150 years and is Africa’s largest banking group ranked by assets and earnings.
Stanbic Bank Nigeria was created in 1992 when SBG acquired ANZ Grindlays’ operations in Botswana, Ghana, Kenya, Nigeria, Uganda, Zaire, Zambia and ZimbabStanbic IBTC Bank PLC. Stanbic Bank Nigeria offered merchant banking services, while Investment Banking and Trust Company (IBTC) was established 23 years ago to offer investment banking and investment management services. IBTC merged with Chartered Bank and Regent Bank in 2005 and was thereafter known as IBTC Chartered Bank PLC – a universal bank. At the time of the merger with Stanbic Bank Nigeria, IBTC Chartered Bank PLC was the leading investment bank in Nigeria.
Stanbic IBTC Bank PLC is a universal bank and has consolidated its position in Nigeria as a diversified business with a proven track record. The group focuses on the three key businesses – Corporate and Investment Banking, Personal and Business Banking and Stanbic IBTC Bank PLCalth Management that leverage the skills, economies of scale and synergies that come from being part of an international group, and our excellent Nigerian pedigree.
The bank is committed to providing end-to-end financial services to clients and delivering sustainable long term value to shareholders through first class innovative operations and customer-focused people.
Code of Ethics
Stanbic IBTC Bank PLC is a large and diverse business and the Code of Ethics is an expression of commitment and integrity. It provides details about how the values apply in the workplace, including guidance on their application in specific situations. It is designed to:
- Facilitate greater empoStanbic IBTC Bank PLCrment and faster decision-making at all levels of our business; and
- Ensure that, as a significant player in the financial services industry, Stanbic IBTC Bank PLC adheres to the highest standards of responsible business practice in our interactions with all our stakeholders.
Click here to read the Code of Ethics.
Read our Personal Account Trading Policy statement here
The whistle-blowing policy is here
The whistle blowing procedures and standards are here
Review a summary of The risk management practices here
If you believe an employee of Stanbic IBTC Bank has breached The Code of Ethics please contact the ethics and fraud hotline- 234 1271 7739
Tel: +234 1 4227777 Email: firstname.lastname@example.org