The Standard Bank Group merged its Nigerian operations, Stanbic Bank Nigeria with that of IBTC Chartered Bank PLC. The merger, by way of the first ever tender offer in Nigeria and a $525 million FDI, the largest in Nigerian financial history, gave birth to a new entity now known as Stanbic IBTC Bank PLC which became part of the Standard Bank Group.
Stanbic IBTC Bank PLC through its wholly owned stock broking and asset management subsidiary, IBTC Asset Management Limited has several excellent mutual funds including the IBTC Nigerian Equity Fund, which is Nigeria’s largest mutual fund with a net asset value. It is the only bank that has a direct subsidiary that is a pension fund administrator; through the market leading IBTC Pension Managers Limited (IPML).
The Corporate and Investment banking offering includes global markets, project and structured finance, equities trading, corporate finance, global custody and a myriad of transactional and electronic banking solutions. As part of Africa’s largest bank, it is able to give its clients access to expertise and on the ground presence across the globe, a vital service in the ever increasing global requirements of business.