With a month-to-date gain of over 18%, the stock closed the week at ₦101, not just maintaining momentum, but staking its claim as one of the Nigerian Exchange’s standout performers.

This surge isn’t a flash in the pan. It’s the product of solid financial results, strategic foresight, and a renewed investor appetite for quality banking stocks.

July was been a bullish month for Stanbic IBTC, recording a 23% rally that energized the entire banking sector.

Much of this optimism was driven by the Group’s Q1 2025 results, which saw pre-tax profit soar to ₦116.4 billion, representing a massive 85.6% increase year-on-year.

Behind these numbers lies a strategic vision.

In a bold move to expand its operational capabilities and deepen trade finance potential, Stanbic IBTC secured a three-year CNY800 million (₦172 billion) loan facility from the China Development Bank.

This marks not just a significant capital injection, but a symbolic strengthening of Africa-China financial cooperation, a theme that’s becoming increasingly relevant for forward-looking institutions.

With over 180 million shares traded and a year-to-date return surpassing 74%, the Group is attracting a new wave of investor interest, underpinned by confidence in its long-term growth story.

Kunle Adedeji, acting chief executive of Stanbic IBTC Holdings, reflected on the company’s momentum:
“Our commitment to delivering value for shareholders remains steadfast. The performance we’re seeing today is the result of years of disciplined execution, innovation, and a team that’s deeply committed to excellence.”

He pointed to the company’s renewed focus on operational excellence, transparency, and innovation as key pillars for driving sustainable growth.

Adding to the optimism, Wole Adeniyi, chief executive of Stanbic IBTC Bank, shared his perspective on what lies ahead:

“We are part of a group that is not only focused on today’s wins but is actively shaping a future built on resilience, collaboration, and strategic growth. Our partnerships and forward-thinking strategies ensure we’re positioned to grow alongside our customers and shareholders.”

As Nigeria’s financial sector continues to evolve, Stanbic IBTC is leading from the front, combining a strong heritage with a hunger for innovation.

With rising investor confidence, robust market performance, and a vision aligned with global trends, Stanbic IBTC is writing a new chapter in African banking, one that’s dynamic, sustainable, and full of promise.

For many, owning shares in top-performing banks has become a smart way to earn passive income. As several banks reported substantial profits for the 2024 financial year, many financial institutions are distributing the profits to their shareholders.

Here’s a look at the top Nigerian banks rewarding their investors with some of the highest dividend yields in the market based on the 2024 declared dividend:

8. First HoldCo Plc:

Dividend yield: 2.14%

Dividend Growth (2023-2024): 50%

First HoldCo Plc, one of Nigeria’s oldest financial institutions, is the only bank paying the lowest dividends among the FUGAZ banks, placing it right at the bottom of our list of banks paying the highest dividends in Nigeria based on the dividend yield.

Dividend yield reflects the percentage of return on investment based on how much the stock costs. It reflects a more actual return on your investment.

A company dividend per share may be higher, but still has a low dividend yield, because the dividend may be high but when compared to the share price, the actual return on investment is relatively small. For instance, a N5 dividend on a N31 share is a better yield than a N8 dividend on a N68 share.

FirstHoldCo declared a dividend of N0.60 per share for the 2024 financial year, amounting to a 2.14% dividend yield for the year. While the bank payout ratio stood at 3.21%.

The bank dividend marks a 50% growth rate from the N0.40k per share declared in 2023.

7. Stanbic IBTC Holdings Plc:

Dividend Yield: 8.20%

Dividend Growth: 51.5%

Sitting comfortably in the seventh position is Stanbic IBTC Holding Plc with a dividend yield of 8.20%. For the 2024 financial year, Stanbic IBTC Holdings Plc posted a profit after tax of N225.3 billion, a 60% surge from the N140.6 billion recorded in 2023.

As the company’s profit surged, its shareholders dividend also soared to a total dividend of N5 for the year, which consisted of a N2 interim dividend and N3.00 final dividend.

In terms of dividend payout ratio, its payout ratio stood at 29.24%, highlighting the business stability. Payout ratio indicates the percentage of profit paid out to shareholders in the form of dividends.

Companies with higher dividend payout ratios are typically more attractive to investors looking for income-based investments.

However, high payout ratios mean less profit is being reinvested into the business and may impact the company’s growth potential.

Over the years, the bank has shown consistent growth, highlighting its commitment to shareholder returns. It declared N3.50k and N3.30k in 2022 and 2023, respectively, marking 51% year-on-year growth.

6. Wema Bank Plc:

Dividend Yield: 9.10%

Dividend Growth: 50%

Wema Bank Plc might not be among the top banks paying large amounts to investors, as the bank just crossed to the list of banks paying in naira instead of kobo per dividend as the bank declared a dividend of N1.00 per share.

However, based on dividend yield, the bank’s dividend yield stood at 9.10%. That is, as an investor if you had invested prior in the bank earlier, you would be cashing out 9.10% of the total amount invested as a dividend for the year.

For the payout ratio, the bank’s payout ratio is at 20.69%, showing the banks reinvest 79.31% of its profit into the business. Its dividend growth has also seen a consistent increase from 40% increase in 2023, to N0.50k, to 50% increase in 2024, to N1.00 dividend declared per share.

5. Zenith Bank Plc:

Dividend yield: 10%

Dividend Growth: 25%

Zenith Bank Plc, one of the FUGAZ banks, has consistently affirmed its commitment to shareholders returns, reflected in its consistent growth in dividends declared, placing it among the banks paying the  highest dividends in the financial sector.

In 2024, the company’s profit after-tax surpassed N1 trillion, posting N1.03 trillion profit for the year. The company declared a N4.00 final dividend, bringing the total dividend to N5.00.

This accounts for a dividend yield of 10% and a payout ratio of 15%. Highlighting the bank’s growth potential as it reinvested 68.42% of profit back into the business.

It has consistently maintained a steady dividend payout. The bank paid N3.2 per share in 2022, N4 per share in 2023, then N5 per share in 2024. Following its impressive performance, the company has promised a bigger dividend payout to shareholders in the future.

4. Fidelity Bank Plc:

Dividend Yield: 11.06%

Dividend Growth: N162.5%

Fidelity Bank Plc declared a final dividend of N1.25k per share in addition to the interim dividend of N0.85k per share in 2025, bringing the total share declared for 2024 to N2.10, amounting to 11.06%.

The bank payout ratio stood at 31.58%, showing that the bank returned about 31% of its profits to shareholders while it reinvested about 68%.

It has a rapid dividend growth, with N2.10 dividend per share declared in 2024, marking a 162.5% year-on-year growth in payout from the N0.80 declared in 2023, providing an attractive yield to  investors.

3. GTCO Holdings Plc

Dividend yield: 11.81%

Dividend Growth: 150.9%

Based on the amount paid per share alone, GTCO could have ranked first in the list of top paying banks. However, in terms of dividend yield, which reflects the actual return on investment, it currently ranks third with a dividend yield of 11.81%.

GTCO stood out as one of the top-paying dividend stocks in 2024, rewarding shareholders with a total dividend payout of N8.03 per share made up of N1 interim dividend and N7.03 final dividend.

With over N1 trillion declared in profit, it ensured that shareholders felt the impact in their returns, reaffirming its commitment to delivering returns to shareholders with a payout ratio of 23%.

Its dividend growth rate has been on a consistent growth rate with N3.1 dividend per share in 2022, N3.2 per share in 2023, while it more than doubled in 2024 to N8.03.

2. Access Holdings Plc:

Dividend yield: 11.9%

Dividend growth: 19%

Access Holdings Plc, Nigeria’s largest financial institution based on assets, stood in second place with a dividend yield of 11.9% in 2024.

Following its performance in 2024, the bank declared a final dividend of N2.05 per share, combined with the interim dividend of N0.45 per share, bringing the total share for the year to N2.50k.

The bank payout ratio stood at 14.96%, in comparison to some other Tier 1 banks. The bank returns to investors improved in 2024 as it declared N125.29 billion as dividends to shareholders in 2024, a 67 percent increase from the N74.6 billion paid in 2023.

Following its performance, the company shared its forward-looking plan to deliver N1 per share as an interim dividend in 2025.

1. United Bank for Africa (UBA):

Dividend yield: 15.97%

Dividend growth: 78.6%

United Bank of Africa (UBA) takes the top spot for banks paying the highest dividend to shareholders with a dividend yield of 15.97%.

The payout ratio stood at 23%. The dividend per share has also seen considerable growth over the years, growing steadily, with N1.1 per share declared in 2022, N2.8 per share in 2024, while it witnessed a 78.6% surge in 2024 to N5.00 per share.

Although other banks may have paid higher per-share payout, its high dividend yield sets it apart, as the top bank giving the highest return on investment to investors from its declared dividend.

When considering the financial institutions with the best returns based on dividend returns to shareholders, it is not enough to look at the per-share payout amount only, but to also look at it in conjunction with its percentage return, especially when considering income-based stocks.

The Rights Issue, which opened on 15 January 2025, and closes on 21 February 2025, offers existing shareholders the opportunity to subscribe to 2,944,772,083 Ordinary Shares of 50 kobo each at ₦50.50 per share.

The Rights Issue is structured on a ratio of 5 new shares for every 22 Ordinary Shares held as of 29 October 2024.

This strategic move aims to strengthen the company’s capital base, enhance its funding capacity and position it for sustainable growth as it will enable the company’s banking subsidiary meet the new minimum capital requirement set by the Central Bank of Nigeria (CBN), thereby ensuring regulatory compliance and potentially strengthening its Capital Adequacy Ratio (CAR).

For existing shareholders, the Rights Issue offers the opportunity to consolidate their ownership and support growth initiatives, at a discounted Issue price; and giving them the flexibility to either sell their rights on the NGX at a premium or maintain their proportional ownership by participating in the rights issue, catering to diverse investment strategies.

Speaking during the Facts Behind the Rights Issue event held at the Nigerian Exchange Group (NGX), Lagos, Dr. Kunle Adedeji, acting chief executive of Stanbic IBTC Holdings PLC, stated,

“The pricing of our Rights Issue acknowledges the confidence of our shareholders have in the company’s vision and strategy. We are committed to delivering value to our shareholders and stakeholders, and this Rights Issue is a critical step in achieving our goals.”

According to Dr. Adedeji,

“At Stanbic IBTC Holdings, we believe that strong shareholder support is the cornerstone of our growth. The Rights Issue reflects our stakeholders’ trust in our company and reinforces our commitment to delivering sustainable returns. Together, we will navigate the path to success and continue to achieve our strategic objectives.”

The proceeds from the Rights Issue would be largely invested in the company’s banking subsidiary to enable it meet the new minimum capital requirement set by the Central Bank of Nigeria (CBN) for banks and also enhance the company’s funding base and support its growth strategies across its key operations.

Wole Adeniyi, chief executive of Stanbic IBTC Bank, who co-presented the Facts Behind the Rights Issue, express delight at the Rights Issue, emphasising the motive behind it.

“This is a significant milestone in our journey to becoming Nigeria’s leading financial services organisation and a critical step in our efforts to meet the evolving needs of our customers and stakeholders. We are committed to maintaining our leadership position in the industry, and this capital raise will enable us to invest in our business, drive innovation, and deliver sustainable returns to our shareholders,” he said.

Mr. Adeniyi further added:

“We are grateful for the support of our shareholders, who have demonstrated their confidence in our ability to deliver long-term value. This rights issue will enable us to build on our strengths, capitalise on new opportunities, and drive growth and profitability in the coming years.”

“This is an exciting time for Stanbic IBTC Holdings PLC and Stanbic IBTC Bank, and we are pleased to have commenced this important capital raise. We are well-positioned to drive growth, innovation, and customer satisfaction, and we look forward to continuing to deliver value to our stakeholders,” Mr. Adeniyi said.

Stanbic IBTC Holdings PLC is a member of the Standard Bank Group, the largest bank by assets in Africa.

The company offers various financial services, including corporate and investment banking, personal and private banking, investment and asset management services.

Held at the Police Grounds on Oba Akinjobi Way, GRA Lagos, the fair attracted a diverse and impressive crowd. Participants ranged from experienced farmers and innovative agricultural startups to key industry stakeholders and interested members of the public.

This year’s farm fair, organized to commemorate World Food Day stood out as a dynamic exhibition as farmers from across the region came together to showcase and sell a wide variety of fresh, locally grown produce.

Families and attendees enjoyed a vibrant atmosphere while purchasing high-quality fruits, vegetables, grains, and other farm products at affordable prices.

The fair not only provided a platform for farmers to connect directly with consumers but also highlighted the importance of supporting local agriculture and sustainable farming practices.

The event fostered a sense of community, with activities and exhibitions that engaged all ages.

“At Stanbic IBTC Holdings, we are deeply committed to fostering sustainable growth and innovation within Nigeria’s agricultural sector. Our proud partnership of the Lagos Farm Fair alongside the British American Tobacco Nigeria Foundation in collaboration with Lagos State Ministry of Agriculture & Food Systems supports the agricultural landscape’s development and thriving,” stated Eric Fajemisin, executive director, Corporate and Investment Banking, Stanbic IBTC Bank.

Eric elaborated that the event represents a crucial step forward, bringing key stakeholders together to share knowledge and forge partnerships to drive the industry forward.

“We believe that by investing in agriculture, we are investing in the future of our nation, creating opportunities for growth, innovation, and sustainability,” he added.

“Stanbic IBTC Holdings is proud to have contributed to the success of the BATNF Lagos Farm Fair. Recognizing agriculture’s role in economic development and food security, we are committed to supporting initiatives that drive growth within this vital sector. We understand the transformative potential of events like the Farm Fair to motivate change, stimulate economic development, and enhance food security. Through our support, we aim to encourage the continuous advancement of the agricultural sector, ensuring it remains a cornerstone of sustainable development for Lagos and beyond”.

This hallmark event marks years of dedicated efforts towards enriching the lives of children living with limb loss and underscores Stanbic IBTC’s steadfast dedication to social responsibility.

Speaking at the event, Dr Demola Sogunle, the chief executive, Stanbic IBTC Holdings, emphasised the significant impact of limb loss on children’s emotional, psychological, and societal well-being. He highlighted the organisation’s holistic support approach, tackling not just the medical needs but also the financial and social challenges encountered by the families.

He emphasised the crucial role businesses play in offering comprehensive support, urging them to recognise that limb loss presents a complex challenge that goes beyond the physical condition.

The Stanbic IBTC boss highlighted the efforts of Together4ALimb, explaining how the initiative addresses both the visible and hidden obstacles faced by these families, ultimately providing a more holistic and inclusive form of support.

“Businesses have a crucial role in delivering comprehensive support, recognising limb loss as a complex life challenge beyond the physical condition. Through Together4ALimb, we address both the tangible and intangible hurdles these families face,” Demola stated.

The 2024 Together4ALimb Walk, resonating with the theme “Wellness in Motion” 2.0, was engineered to spotlight and ease the challenges faced by underprivileged children suffering from limb loss.

Since the initiative’s inception in 2015, Together4ALimb has significantly improved the lives of 55 children by providing them with prosthetic limbs and creating educational trust funds of 1.5 million naira for each beneficiary.

The programme witnessed a considerable expansion in 2023, extending its benevolence to 45 additional recipients.

To this day, the initiative proudly boasts of assisting 136 beneficiaries nationwide, ensuring each child receives an annual prosthetic limb replacement until age 18. This year’s event further solidified Stanbic IBTC’s commitment by welcoming 36 children into the programme, thereby cementing Stanbic IBTC’s role in creating brighter futures for children experiencing limb loss.

During the event, Dr. Ibijoke Sanwo-Olu, First Lady of Lagos State, highlighted the remarkable impact of the initiative noting with admiration that 136 children have benefited from the organisation’s esteemed Corporate Social Responsibility (CSR) initiative.

She said,

“I want to sincerely appreciate Stanbic IBTC’s commitment and consistency over the years through this laudable initiative. It is imperative to note that supporting special children who have experienced limb loss either through accidents, mismanaged injuries, or congenital issues/birth defects and providing prosthetic limbs and educational trust funds for them will further assist them in realising their full potential and give them a sense of love, care, and support from society.”

“Over the years, issues around welfare and rights of persons with disabilities have become a recurring decimal in national discourse with successive administrations coming up with various initiatives to end discrimination and generally promote the principle of social inclusion.  In today’s world, our society has realised that physical disability is not inability and therefore should not, in any way, hinder anyone from achieving something positive in life,” she stated.

Ejike Anih, founder and chief executive officer of IfeanHealth Orthopaedics, stated that Stanbic IBTC has accomplished milestones through the Together4Limb initiative.

“This initiative explicitly targets the upliftment of underprivileged children, a segment of society often overlooked yet deeply impacted by systemic inequalities. By focusing on this group, the organisation sheds light on these children’s pressing issues and actively works to create tangible positive changes in their lives.”

“Such initiatives are paramount today, as they embody the essence of corporate responsibility—recognising the roles of businesses in the economy and as pillars of society with the power and resources to enact real change. By dedicating a portion of its resources to the welfare of underprivileged children, the organisation sets a laudable example for others to follow, demonstrating how corporations can make a significant difference in the world, one child at a time,” Ejike said.

Speaking at the event, Brigadier General Samson Okoigi, ⁠Corps Commander—Medical, Nigerian Army, commended the Together4ALimb initiative for its significant contribution, providing much-needed hope and support to those affected.

This initiative is crucial in helping recipients tap into their inherent potential and navigate life more confidently despite their physical challenges.

He stressed,

“We understand firsthand the impact of losing a limb, not just physically, but emotionally and psychologically. I stand here today with pride, recognising the vital work that Stanbic IBTC has been doing through this remarkable initiative. Your dedication to restoring mobility to individuals with limb loss across Nigeria aligns with our mission in the Nigerian Army to rehabilitate and support the brave men and women who have sacrificed so much in service to our nation. We know that the journey to recovery is not just about restoring what was lost but empowering individuals to regain their independence, confidence and sense of purpose.”

The 10th Together4ALimb Walk commenced at the Stanbic IBTC Head Office on Walter Carrington Crescent, Victoria Island, Lagos, and concluded at the Law School Bus Stop on Ozumba Mbadiwe Avenue.

This year’s event marked a significant milestone by expanding its reach beyond Lagos, bringing the Together4ALimb Walk to several cities across Nigeria with staff and partners joining the walk with the aid of Steps by Stanbic IBTC.

This expansion underscores Stanbic IBTC’s commitment to fostering the nation’s social, economic, and environmental welfare.

This announcement was made in an official statement submitted to Nigeria Exchange Limited.

Dr. Demola Sogunle, the CEO of Stanbic IBTC Holdings, expressed his enthusiasm regarding the newly appointed directors.

He described these appointments as a major milestone in the company’s strategic plan to solidify its position as a leader in the Nigerian financial services industry.

The CEO emphasized that the newly appointed directors bring a wealth of diverse experiences and perspectives, along with a strong dedication to driving excellence and fostering innovation.

Dr. Sogunle further stated that Stanbic IBTC Holdings is delighted to welcome these esteemed professionals to its Board of Directors.

Recognizing that people are the catalysts for a company’s growth, the CEO emphasized the organization’s commitment to prioritizing its workforce and nurturing talent.

He stressed the importance of navigating the evolving financial landscape to consistently deliver exceptional value to shareholders, clients, and communities.

Reaffirming the company’s commitment to maintaining exceptional standards of governance and performance, the CEO expressed his satisfaction with the newly appointed directors.

This move reflects Stanbic IBTC Holdings’ ongoing efforts to position itself as a market leader while upholding its core values of excellence and innovation.

• Mrs Ndidi Nwuneli – Independent Non-Executive Director of Stanbic IBTC Holdings PLC.
• Mr Yinka Sanni – a Non-Executive Director. In addition to this role, Yinka will serve as a Non-Executive Director of Stanbic IBTC Bank.
• Mrs Funeka Montjane – Non-Executive Director of Stanbic IBTC Bank PLC.
• Mr Efe Omoduemuke joined the Board of Stanbic IBTC Asset Management as an Executive Director.
• Mrs Joyce Dimpka was appointed Non-Executive Director of Stanbic IBTC Insurance Brokers.
• Mrs Temitope Popoola -Executive Director of Stanbic IBTC Insurance Brokers Limited.
• Mr Oladele Sotubo – Executive Director on the Board of Stanbic IBTC Capital Limited.
• Mrs Titi Ogungbesan – Chief Executive of Stanbic IBTC Ventures.

The event celebrated organizations that exemplified unwavering dedication to gender equality and the empowerment of women in the workplace.

Stanbic IBTC emerged as the winner of both the highly regarded Company Leadership Gender Diversity Award and the prestigious Gender Equality Champion Award. These accolades were in acknowledgment of Stanbic IBTC’s relentless efforts in promoting gender diversity, inclusivity, and equality within its workforce and the wider business community.

The Company Leadership Gender Diversity Award was a testament to Stanbic IBTC’s commitment to creating an inclusive workplace environment that offered equal opportunities to all employees, regardless of gender. Through various initiatives, the organization implemented policies and practices that actively promoted gender diversity and encouraged the advancement of women into leadership positions.

Furthermore, the Gender Equality Champion Award solidified Stanbic IBTC’s position as a frontrunner in the fight for gender equality.

The award recognized the organization’s exceptional contribution to advancing gender equality within Nigeria’s financial sector.

Stanbic IBTC continuously advocated for gender-balanced leadership, facilitated mentorship programs, and provided career growth opportunities for women in the industry.

In addition to the two prestigious awards, Stanbic IBTC received Special Recognition for its outstanding efforts in scaling up the Blue Women Network (BWN). The BWN program, aimed at promoting gender equality in the workplace, empowered women and provided them with a platform to network, share knowledge, and develop their skills.

Dr. Demola Sogunle, Chief Executive of Stanbic IBTC Holdings PLC shared his heartfelt gratitude for the recognition bestowed on the Group, stating, “A diverse and inclusive workforce drives innovation, enhances decision-making, and paves the way for a more sustainable future. Stanbic IBTC will continue to champion gender equality and diversity, both within our organization and beyond.”

The IFC and NGX Nigeria2Equal Program Dinner and Awards event brought together leaders from various sectors, government officials, and gender advocates to celebrate the outstanding contributions made by organizations in promoting gender equality. The occasion served as a platform to share best practices and ideas that could further advance gender equality in Nigeria.

With their remarkable achievements, Stanbic IBTC continues to inspire other organizations to prioritize gender diversity and equality by setting an excellent example for the financial industry in Nigeria and beyond.

Their unflinching commitment to creating a more equitable and inclusive society serves as a shining beacon of progress and opportunity for all.

Key points:

• First: N4 Million per category (Tech, music, dance, fashion) *N16million
• Second: N3 million per category *N12million
• Third: N1 million per category *N4million
• Judges selected across industries.
• Winners to be mentored, as Stanbic IBTC Pension Managers plans to organize financial plan seminar for them.

The event is set to hold on Wednesday, 21 December 2022 from 10am to 7pm at Livespot Entertainment Centre, 4 Oba Elegushi Road, Close to Nike Art Gallery, Lekki.

The leading Pension Fund Administrator is bringing Ladipoe, Teni, Wurld and other big names in the Nigerian music industry to thrill youngsters at the festival and provide lots of exciting moments for attendees.

Attendance at the FUZE Festival is free and attendees will experience a massive marketplace where they can buy lots of items at affordable prices, play games and enjoy several other side attractions.

There will also be foods and drinks, face and body painting for kids and adults, and many fun activities to help individuals, groups and families relax this festive season.

The FUZE Festival is coming after the successful completion of the debut FUZE Talent Hunt, which provided a platform for bright youngsters in music, dance, fashion, and technology to showcase their skills and talents. Winners of the talent hunt will be announced during the festival, and they will receive industry recognition, access to mentorship and seed funding to support their careers in the creative industry.

Speaking on the rationale behind the event, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, said the organisation remains committed to promoting youth development and economic empowerment in Nigeria.

According to him, “Stanbic IBTC Pension Managers celebrates indigenous talents and helps them explore their creativity and business prowess.

The FUZE Festival presents a unique opportunity to reward and support young talented Nigerians from across the country through the talent hunt, while also providing enhancement opportunities for businesses who would be given free stalls to exhibit their wares and produce at the event.”

Nike Bajomo, Executive Director, Business Development, Stanbic IBTC Pension Managers, expressed excitement at the opportunities, fun and rewards FUZE holds for young Nigerians. She enjoined everyone to attend the event as they will be greatly inspired and entertained.

Nike said, “the FUZE Festival is open to everyone so please download the Stanbic Event App on either the Google Play or iOS store to RSVP for the event, and we’ll see you at FUZE.”

Stanbic IBTC Pension Managers has said it will continue to support and encourage talent, creativity and innovation, and create platforms for Nigerians to engage and share exciting experiences.