Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a member of the Standard Bank Group, has announced the successful signing of a three-year, CNY800 million (approx. ₦172 billion) term loan agreement with the China Development Bank (CDB).
This landmark deal, executed under the strategic cooperation framework between Standard Bank Group and CDB, marks a major milestone in strengthening financial ties between Africa and China. It grants Stanbic IBTC Bank direct access to Renminbi (CNY) liquidity, enabling it to better serve Nigerian corporates and institutions engaged in cross-border trade and investment along the Africa-China corridor.
“We are thrilled to partner with China Development Bank on this transformative facility,” said Wole Adeniyi, chief executive, Stanbic IBTC Bank.
“This agreement goes beyond funding, it gives us greater capacity to support our clients with tailored financing in Renminbi, enhance trade facilitation, and advance our Africa-China strategy. Ultimately, it helps unlock real growth opportunities for Nigerian businesses operating in this vital trade route.”
By leveraging the facility, Stanbic IBTC Bank aims to bridge the financing gap for Nigerian businesses seeking access to Asian markets, particularly in manufacturing, infrastructure, agriculture, and import/export trade.
The loan also reflects Standard Bank Group’s long-standing relationship with CDB, built on shared ambitions for sustainable economic development across the continent.
The collaboration is expected to play a pivotal role in facilitating foreign direct investment, easing foreign exchange constraints for trade settlements, and providing long-term financing options in local currencies.
Reinforcing a Broader Africa-China Strategy
This agreement is part of Stanbic IBTC’s broader Africa-China strategy, which positions the bank as a key financial bridge between the two regions. By aligning with CDB, Stanbic IBTC is doubling down on its mission to become the partner of choice for businesses operating within or expanding into China-Africa trade flows.
Stanbic IBTC Bank remains committed to delivering innovative, inclusive, and sustainable financial solutions that empower clients, drive industrial growth, and support the broader Nigerian economy.
Stanbic IBTC Bank is a leading financial services provider in Nigeria and a subsidiary of Stanbic IBTC Holdings Plc, a member of the Standard Bank Group, Africa’s largest banking group by assets, with a heritage of over 162 years.
The bank offers a wide range of services including specialised and trade finance, asset and pension management, stockbroking, life insurance, foreign exchange, custodial services, and investment banking.
Its recent launch of Zest Payments, a fintech subsidiary, reaffirms its commitment to digital innovation and financial inclusion.
