Stanbic IBTC Holdings, a member of Standard Bank Group, on Thursday reported 59 per cent growth in profit after tax for the nine months ended Sept. 30, 2018.
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Trading resumed on the Nigerian Stock Exchange for the week on Monday on a positive note with the market capitalisation rising by N106 billion.
This was the submission of Stanbic IBTC as Nigeria seeks approaches to unlock its potential and navigate the economy towards sustainable growth and development.
Telecoms firm MTN says it is holding talks with Nigerian officials to find a “mutually acceptable solution” to a dispute over the alleged transfer of 8.1 billion dollars.
Equity transactions on the Nigerian Stock Exchange reopened on Tuesday after the Independence Day holidays on a bearish trend as market indicators depreciated by 0.17 per cent.
The diadems: Best Foreign Investment Bank, Best Debt House, Best Equity House and Best Loan House, were won through Stanbic IBTC Capital Limited, a member of the Stanbic IBTC Group.
Its Chief Executive, Anselem Igbo, said this in Lagos at a consumers’ forum organised to mark the company’s third anniversary.
The banks were accused by the CBN of issuing irregular Certificates of Capital Importation on behalf of some offshore investors of MTN Nigeria Communications Limited
Announcing the decision in Abuja on Wednesday, CBN’s Director, Corporate Communications, Isaac Okorafor, said the actions on the Bank became necessary following allegations of remittance of foreign exchange with irregular Certificates of Capital Importation issued on behalf of some offshore investors of MTN Nigeria Communications Limited and subsequent investigations carried out by the apex bank in March 2018
In a statement on Sunday in Lagos, Fajeminsi noted that the new structure superseded the previous “one-size-fits-all” investment structure.
This followed price appreciation by some highly capitalised and medium-size equities with Dangote Cement leading the gainers’ pack with N9.20 to close at N239. 20 per share.
Chidi Okezie, the bank’s Company Secretary, in a notification to the exchange, said Stanbic Africa Holdings (a subsidiary of Standard Bank Group and parent company of Stanbic IBTC Holdings) recently acquired the 1.14 billion shares.
The News Agency of Nigeria reports that the market capitalisation dipped N16 billion or 0.11 per cent to close at N14.914 trillion against N14.930 trillion on Friday.
The bank moved the full apparatus of its mobile ATM van from Lagos to Ibadan Grammar School, one of the 31 allocated schools across the country where senior executives of the bank, including its Chief Executive, Dr. Demola Sogunle, made presentations to students on financial literacy.
This pledge was made at the 2018 Stanbic IBTC Blue Women Network event in Lagos to commemorate the International Women’s Day, themed: “Press for Progress.”
The News Agency of Nigeria reports that SIAML Funds, open-ended Funds, are set to enable investors achieve competitive returns on their assets while safeguarding capital.
The Minister of Finance, Kemi Adeosun, made this known to State House correspondents after the meeting of the Federal Executive Council in Abuja on Wednesday
Guinness followed on the losers’ table with a loss of N4.15 to close at N116.10, while Stanbic IBTC was down by N2.28 to close at N43.72 per share.
The 14 banks in this report, controlling over 90 per cent of the Nigerian financial market, recorded N368.3 billion impairment losses for the Q3’17, representing an increase of 8.0 per cent from N341.1 billion in corresponding third quarter,Q3’16
In the report issued on November 27, 2017, the two institutions recorded AAA (nga) national long term rating, which provides a relative measure of credit worthiness for rated institutions in Nigeria.