In a bold move reinforcing investor confidence and financial resilience, Stanbic IBTC Holdings PLC has announced the successful completion of its ₦148.7 billion Rights Issue, exceeding expectations with a 21.9% oversubscription.
This milestone confirms the Group’s full compliance with the Central Bank of Nigeria’s (CBN) ₦200 billion recapitalisation requirement for banks with national licences.
This remarkable achievement marks a defining moment in Stanbic IBTC’s growth strategy, showcasing shareholder trust and the bank’s commitment to long-term value creation.
The oversubscription translates to a total commitment of ₦181.4 billion, significantly boosting Stanbic IBTC’s capital base ahead of regulatory deadlines.
Shareholder Confidence Drives Recapitalisation Success
According to Dr. Kunle Adedeji, acting chief executive of Stanbic IBTC Holdings PLC:
“The turnout and participation from our shareholders were truly impressive. The oversubscription by 21.9% signals a strong endorsement of our brand, our strategic direction, and our continued focus on delivering stakeholder value. We extend our gratitude to the CBN and SEC for their oversight and support throughout the process.”
Meeting CBN’s 2024 Recapitalisation Mandate
In March 2024, the CBN introduced a new capital framework, requiring:
- ₦500 billion for banks with international licenses
- ₦200 billion for national banks
- ₦50 billion for regional banks
Stanbic IBTC Holdings has not only met but exceeded the threshold, positioning itself among the top-tier players in Nigeria’s evolving banking landscape.
Strategic Capital Injection Strengthens Banking Operations
In alignment with its recapitalisation goals, Stanbic IBTC Holdings has injected ₦140 billion into Stanbic IBTC Bank, its banking subsidiary. This capital injection enhances the bank’s lending capacity, improves its Single Obligor Limit (SOL), and strengthens its ability to serve customers in a highly competitive market.
Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, commented:
“This injection marks a new chapter for the bank. It enables us to seize new opportunities, expand responsibly, and meet the increasing financial needs of our clients. We thank our regulators, issuing houses, and stakeholders for their unwavering support.”
A Vision for Long-Term Growth and Financial Inclusion
Stanbic IBTC Holdings’ successful recapitalisation is more than a compliance milestone—it underscores the Group’s enduring financial strength, shareholder trust, and future-focused strategy. As the Nigerian banking sector embraces a new era of capital adequacy and digital innovation, Stanbic IBTC is well-positioned to lead with confidence.
The Group remains committed to supporting Nigeria’s economic development, expanding access to financial services, and driving stakeholder value through innovation, resilience, and strong corporate governance.
