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Tag: Business and Commercial Clients

  • Stanbic IBTC Restates Commitment to Improve Multisectoral Nigerian Businesses

    Stanbic IBTC Restates Commitment to Improve Multisectoral Nigerian Businesses

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has expressed its unwavering commitment to improving and supporting Nigerian businesses across all sectors, the organisation said in an official launch and media briefing to unveil its proposition for businesses of different sizes and across different sectors

    The leading end-to-end financial services provider revealed a bouquet of offerings that cater to businesses in all sectors, locally and internationally. These offerings are innovative financial solutions across the agribusiness, education, engineering, trade, commerce, telecoms, manufacturing, healthcare, maritime, real estate, oil and gas financing, debt capital markets, equity capital markets, principal finance solutions, and equity capital markets, amongst other sectors, and are for businesses of all sizes from SMEs to national and multinational companies operating in these sectors.

    The unveiling ceremony showcased the need to partner Nigerian businesses and support them through their challenges and demonstrated the limitless solutions and possibilities via collaboration. The Executive Director, Business and Commercial Clients, Stanbic IBTC Bank, Remy Osuagwu, stated that the organisation is repositioning to reflect the Nigerian local and international business scene while creating solutions that address the growth challenges affecting Nigerian businesses.

    He said: “We know that some businesses struggle because they think they can grow alone, but the truth is no business can survive without the right partner.  We are glad that we are positioned as an experienced financial partner to support business growth”. 

    The main idea behind our launch is to showcase all the financial solutions, including advisory services that businesses can take advantage of to meet their growth aspirations, especially in the face of the current challenging operating terrain. Stanbic IBTC’s solutions are thoughtfully created to meet the needs of business across diverse sectors.”  according to Remy, “one of our solutions, the Africa-China Trade Solution (ACTS), facilitates trade dealings, imports, and exports with China. Our customers in that line of business are covered because it grants African enterprises access to new markets, expands their customer base, and creates a mutually beneficial relationship between the two countries and the rest of the Asian continent.”

    Speaking on strategic solutions for Corporates, Eric Fajemisin, Executive Director Corporate and Investment Banking, Stanbic IBTC Bank, said “We strive to be a valued and trusted partner to our clients, by offering opportunities and risk management strategies . As a member of the Standard Bank Group, we leverage our 160 years heritage, fit-for-purpose representation outside Africa, and a strategic partnership with the Industrial and Commercial Bank of China (ICBC) to provide tailored solutions to our clients. We connect our clients to opportunities across Africa and beyond through our proven experience in emerging markets, local insight and our on-the-ground presence in 20 countries in Africa”.

    He said, Our Global Markets team offers a range of trading and risk management solutions across different asset classes in the financial markets, including foreign exchange positions, interest rate protection, and hedges in the Equities and Commodities market. Our Investment Banking team provides a full suite of advisory and financing solutions, from term lending to highly structured and specialised products across the equity and debt capital markets. Our Transactional Products and Services team provides a range of transactional solutions, including cash management, international trade, and custodial and securities services, primarily across Africa. Our Client Coverage team is made up of specialist relationship managers that work to develop clients business and aspirations, and in turn link them to the full capabilities of Stanbic IBTC, and our specialist products. In this way, we provide all the operational support, insight, and personalised service needed to profitably scale the business”

    The TV commercials unveiled during the event spoke to the limitless possibilities of business solutions offered by the organisation to all its clients.

    Stanbic IBTC reiterates its dedication to equipping entrepreneurs and businesses with beneficial facilities for their growth and the expansion of the nation’s economy.

  • Stanbic IBTC Enhances Intercontinental Trade, Holds Africa-China Trade Expo

    Stanbic IBTC Enhances Intercontinental Trade, Holds Africa-China Trade Expo

    Stanbic IBTC Holdings, a member of Standard Bank Group, remained relentless in enhancing international trade between Africa and China. The financial institution recently hosted the Africa-China Trade Expo to promote trade relations and boost economic prosperity in the two regions.

    The two-day hybrid event, which was held on 10 and 11 August 2022, featured industry experts and professionals from Nigeria, South Africa, and China. The event, themed ‘Synergy for Growth’, focused on export enablement and import policies, bilateral trade relations, product exhibitions by Nigerian and Chinese businesses, and the various means through which Stanbic IBTC had facilitated trade between Nigeria and China.

    In his opening remarks, the Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, disclosed that Stanbic IBTC’s Africa China Trade Solutions (ACTS) had connected numerous Nigerians to over 16,000 Chinese suppliers, and thereby promoted valuable trade relationships between the two economies. He said: “Through our relationship with the Industrial and Commercial Bank of China (ICBC), we connect various businesses while we create opportunities to generate foreign exchange for the country.”

    The need for business-friendly import and export policies was extensively addressed at the event. Ade Otukomaya, Head, Africa China Banking, Stanbic IBTC Bank, stated that business-friendly import and export policies would facilitate increased intra-regional and international trade. “Policies, which are a deliberate system of guidelines to achieve rational outcomes, are key to improving trade relations. We want to encourage more trade and pursue open trade policies with other nations such as China, to catalyze the growth of Africa’s economy,” Ade said.

    In the same vein, Remy Osuagwu, Executive Director, Business and Commercial Clients, Stanbic IBTC Bank, said: “African businesses can now export agro commodities and other products to China at subsidized rates. Chinese clients can also import and export goods and services from their provinces to Africa at lower costs. This will increase revenue for both nations, encourage market diversification and foster better international economic cooperation between the two nations. Our trade partners, Zhejiang International Trading Supply Chain Limited, have simplified the processes to enable seamless trade transactions between clients in both nations.”

    According to Remy, improved trade relations between Africa and China will trigger business growth, which in turn will promote the development of commercial trade services, enhance import and export of commodities, and boost economic development.

    Remy highlighted that market diversification, would yield positive results. “The sole focus on the domestic market exposes clients to an increased risk from downturns in the economy, environmental events, or other risk factors. Less dependence on a single market helps to mitigate potential risks and can open avenues for new product lines or commodities across nations. The Africa-China Banking Conference and Exhibition will provide a new platform for economic cooperation, coordination of import and export of bulk commodities, trade promotion activities, and the sustained development of our foreign trade relations with China.”

    Seun Ogundolapo, Head Trade, Transactional Products and Services, Stanbic IBTC Bank, remarked that the RT200 FX Policy by the Central Bank of Nigeria (CBN) will encourage more businesses to go into export as well as prompt exporters to add value to the commodities they export.

    He said “The RT200 policy is designed to increase the nation’s earnings exclusively from non-oil exports to $200 billion in foreign exchange repatriation, within the next three to five years. This is also in line with our mandate to promote exports of agro commodities and semi-finished or finished goods to other countries.”

  • Stanbic IBTC Set To Host 2022 Africa-China Trade Expo

    Stanbic IBTC Set To Host 2022 Africa-China Trade Expo

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, would host the 2022 Stanbic IBTC Africa China Trade Expo as part of its efforts at promoting trans-regional trade and development between Nigeria and China. The trade expo would feature a panel discussion, masterclasses on trade, a presentation on the Stanbic IBTC Africa China Trade Solutions and a fully virtual exhibition.

    The two-day hybrid conference and exhibition-themed “Synergy For Growth’ is slated for 10 and 11 August 2022, and is geared at providing insights and opportunities for participants. The event would serve as an avenue to showcase Nigerian and Chinese exhibitors, and would as well provide opportunities to build relationships within the trade community.

    The physical conference is planned to feature keynote speeches and panel discussions by highly experienced subject matter experts and thought leaders in relevant industries and would be an opportunity for exporters and importers to engage and create a marketplace experience.

    Speakers slated for the event include Philip Myburgh, Head, Pan-African China Banking, Standard Bank Group; and Ade Otukomaya, Head, Africa China Banking, Stanbic IBTC Bank. Others are Remy Osuagwu, Executive Director, Business and Commercial Clients, Stanbic IBTC Bank; and Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC.

    The panel discussion, with the theme ‘Promoting Export Activities through Synergy’, would have Samuel Oyeyipo, Deputy Director and Regional Coordinator, Nigerian Export Promotion Council, South West Regional Office, Lagos; Luthando Vuda, Head, Africa China Trade in Business and Commercial Clients, Standard Bank Group; Jane He, Business Manager, Pan Africa China Banking, Business and Commercial Clients, Standard Bank Group, Fola Abimbola, Analyst, Senior, Frontier Africa Equity Research, Stanbic IBTC; and Victor Ayemere, Chief Executive, Zeenab Foods Limited, Operators of the Nigeria Export Trade House China/Far East Region as panelists.

    Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings, spoke on the rationale for the conference. He highlighted that the Stanbic IBTC Africa-ChinaTrade Expo hybrid Conference and Exhibition would be geared at showcasing Nigeria and China trade opportunities while emphasizing  the role of Stanbic IBTC in facilitating inter-regional trade.

    “China is Africa’s biggest trading partner by far and can foster strong trade routes and economies of scale, offering an incredible opportunity to do more than just import goods. With the emphasis on building strong synergy and relationship between China and Nigeria, the Stanbic IBTC Africa-China Trade Expo is expected to provide insights into Nigeria and China trade relations and the role of Stanbic IBTC as a facilitator of inter-regional trade, as well as provide advisory services, allowing trade partners access and unlock the opportunities in Nigeria-China trade,” Demola said.

    “The topics for discourse at the two-day hybrid conference and exhibition would centre on building synergy between Nigeria and China’s economies, building synergy between government agencies and driving export activities through policies and initiatives. Other topics would include building export activities in partnership with Stanbic IBTC and promoting competitive advantage for enhancing export.”

    “The exhibition would also showcase vendors who export from Nigeria to China and vice versa, spanning across agriculture, manufacturing, equipment, processing and packaging firms,” Demola added.

    The Chief Executive noted that through its Africa China Trade Solution (ACTS) and other networks of relations between Africa and China, the financial service provider continued to facilitate economic trade and development between Africa and the Asian country.

    Stanbic IBTC’s trade solutions such as Stanbic IBTC Africa China Trade Solutions (ACTS) continued to enable settlement of international transactions and mitigation of payment risk while providing regional solutions such as issuance of payment guarantees and letters of credit to Nigerian exporters.

    Click here to register for the event.

  • Stanbic IBTC Set To Boost Nigeria’s Health Sector

    Stanbic IBTC Set To Boost Nigeria’s Health Sector

    Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings has demonstrated its commitment to support the Nigerian health sector by making available special financing solutions for healthcare providers to effectively render services to Nigerians.

    As one of its key initiatives, the financial institution announced that it has made available flexible loan facilities to stakeholders in the Nigerian healthcare industry to enable them to purchase equipment and improve healthcare services.

    Speaking on the solutions, Remy Osuagwu, Executive Director, Business and Commercial Clients, Stanbic IBTC Bank said the loans were created to make available world-class healthcare and reduce the pressure on the limited health services in the country.

     “Healthcare is a basic need that everyone should be able to access easily. The pandemic has increased the pressure on the health sector and there is a need to adequately equip healthcare facilities to enable hospitals and laboratories deliver quality service and boost the confidence of Nigerians in that sector” he said.

    Nigeria’s health care system is underfunded and the least robust in Africa. Stanbic IBTC has decided to provide capital that will enhance the health frameworks and bridge the gaps in healthcare.

    “From health insurance cover to funding for quality medical equipment, we have product offerings tailor-made to serve our clients in this space” Remy added.

    According to the Business and Commercial Clients Executive Director, the scheme will contribute to the overall development of the Nigerian healthcare system while highlighting that the term loan offers a maximum loan amount of N2 billion naira.

    Furthermore, the financial organisation also offers loans for asset finance to purchase equipment required to provide optimum healthcare service.

    Remy noted that the institution’s team of experts are available to offer expert advice to its customers and the loans are available to key players in the health sector such as pharmaceutical and medical product manufacturers, logistics and healthcare service providers.

    Stanbic IBTC remains committed to the expansion and delivery of excellent healthcare services to all Nigerians through various initiatives.

  • Stanbic IBTC Holds 2022 Economic Outlook Webinar

    Stanbic IBTC Holds 2022 Economic Outlook Webinar

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, recently hosted a webinar titled “2022 ‘Virtual Economic Outlook- Investing and planning in an election cycle”. The event which aimed at reflecting on economic trends that shaped 2021 and projecting into 2022, held on Monday, 14 February 2022.

    According to the financial services provider, the webinar affords participants the opportunity to learn directly from economic experts on the importance of planning and investment.

    Bismarck Rewane, Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, and Muyiwa Oni, Head, Equity Research, Stanbic IBTC Holdings PLC, led deliberations at the virtual event.

    Other speakers at the webinar were Eric Fajemisin, Executive Director, Corporate and Investment Banking; Remy Osuagwu, Executive Director, Business and Commercial Clients; Executive Director Client Solutions – Bunmi Dayo-Olagunju and Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers.

    Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings, set the tone for the event by appreciating the customers for the confidence and trust reposed in the organisation through their patronage. He assured Nigerians of valuable and exciting opportunities despite the likely headwinds as the nation prepares for its general elections.  

    Bismarck, who enumerated the current state of the Nigerian economy, noted that Nigeria’s expenditure currently stands at N19.63 trillion while its revenue stands at N10.71 trillion. This, he said, represented a fiscal deficit of N8.92 trillion, which translates to an increasing level of poverty, inflation, unemployment and the number of out-of-school children. He noted that the number of fully employed Nigerians had dipped by 54.41 percent in the last five years and the working population grew by 18.45 per cent, while 50 per cent of Nigerians remain idle.

    Highlighting Nigeria’s fiscal position in five years, he noted that while oil prices increased by 62.36 percent; currency and balance of trade weakened by 239.76 percent and 35.95 percent respectively, with gross external reserves gaining 39.29 percent.

    According to him, sustained supply concerns have helped to shore up global oil prices above $80 per barrel while the Central Bank of Nigeria has continued to step up its intervention programme in the forex market as the nation’s gross external reserves continue to dwindle. Also, he said, the naira has continued to witness increased pressure due to excess liquidity.

    “The nation’s economy is expected to continue its rebound as witnessed in the last quarter of 2021 while oil prices are likely to remain high as major economies re-open fully and oil demand picks up. Furthermore, the advent of COVID-19 vaccines has continued to discount the impact of Omicron on oil demand while the effect of the Iran nuclear deal is expected to push up the nation’s oil supply to the global market. This is expected to provide more support to Nigeria’s earnings,” said Bismarck.

    “To boost the manufacturing sector, the Central Bank of Nigeria (CBN) is likely to intensify its forex intervention as it seeks to increase supply to manufacturers, Also, the CBN is expected to step up efforts towards exchange rate convergence, increase its intervention in the forex market while the postponement of the fuel subsidy removal will dampen the anticipated spike in inflation for the year as trade policies are expected to become less protectionist.”

    Eric Fajemisin, Executive Director, Corporate and Investment Banking, Stanbic IBTC Bank noted that Stanbic IBTC, through its business advisory services, has continued to help its customers make good investment decisions and provide them with business financing. Remy Osuagwu, Executive Director, Business and Commercial Clients also of Stanbic IBTC Bank said the organisation has continued to partner with the CBN in its various intervention programmes such as the Real Sector Fund, Anchor Borrowers Fund, and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), amongst others.

    Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers said that Stanbic IBTC, through its investment management vehicle, has continued to provide avenues for investors to profitably invest their funds short and long term while ensuring the safety of invested funds.

    Bunmi Dayo Olagunju, Executive Director of Client Solutions, Stanbic IBTC in her concluding remarks, stated that the economic ecosystem can improve during the election cycle if digital technologies can be leveraged effectively.

  • Promo: Stanbic IBTC Bank to reward customers with N30m cash prizes

    Promo: Stanbic IBTC Bank to reward customers with N30m cash prizes

    …As 60 customers Win N6m in September Draws

    Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC has rewarded 60 of its new and existing customers with the sum of N6m for the September draws in its Reward4Saving Promo where the bank’s customers are expected to win cash prizes worth N30 million by the end of the promo.

    The draws which took place at the Stanbic IBTC Headquarters on Walter Carrington Crescent, Victoria Island, Lagos saw 60 customers win cash prizes of N100,000 each at the first draws.

    Speaking at the event, Olufunke Isichei, Head, Established Markets, Stanbic IBTC Bank PLC said over 109,000 new and existing customers qualified for the promo for the month of September, noting that the 60 winners at the draws were selected from the six geo-political zones of the country with 10 winners coming from each zone.

    Olufunke said: “There are going to be two more draws – one for October, happening the first week of November and one for November, happening the first week of December and then the grand finale in December.”

    Olufunke explained that a total of 180 winners are expected to win the sum of N18 million in the months of September, October, and November, while 12 winners will win N1 million each at the grand finale in December to make up the N30 million that Stanbic IBTC Bank PLC will reward its customers within the period of the Reward4Saving Promo.

    According to her, apart from the cash prizes, over 2,000 customers who opened accounts and funded it with a minimum of N5,000 have been rewarded with N500 Free airtime, adding that a total of 20,000 customers who open a new Stanbic IBTC savings account or @ease wallet and deposit a minimum of N5,000 will be rewarded with N500 Free airtime throughout the period of the Stanbic IBTC Reward4Saving promo.

    Speaking in the same vein, Remy Osuagwu, Executive Director, Business and Commercial Clients pointed out that the Reward4Saving promo seeks to encourage customers to develop a savings culture. He also encouraged customers to take advantage of Stanbic IBTC’s end-to-end digital services to access diverse financial products and services.

    On the rationale behind the campaign, Remy said: “We recognise that saving is an important aspect of an individual’s journey to financial freedom so this is an avenue to encourage our customers as well as reward them for their dedication towards building a savings culture. We will be rewarding more customers with cash prizes ranging from N100,000 to a whooping N1 million”.

    Stanbic IBTC Bank PLC remains committed to its corporate purpose of serving it numerous customers and stakeholders by offering bespoke financial products and services while rewarding them for their loyalty over the years.