Stanbic IBTC Asset launches N100bn infrastructure fund for PFAs, insurers, others

Stanbic IBTC Asset launches N100bn infrastructure fund

Stanbic IBTC Asset launches N100bn infrastructure fund for PFAs, insurers, others     Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings Plc, has launched a N100 billion infrastructure fund designed for institutional investors such as pension fund administrators, insurance companies, asset managers and high-net-worth individuals. It said this in a statement on Sunday titled ‘Stanbic IBTC Asset Management launches N100 billion infrastructure fund’. The statement said Stanbic IBTC Infrastructure Fund was registered with the Securities and Exchange Commission (SEC) as a Collective Investment Scheme and provided an opportunity…

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Stanbic IBTC launches own insurance subsidiary

Stanbic IBTC Asset launches N100bn infrastructure fund

Stanbic IBTC launches own insurance subsidiary   Stanbic IBTC Holding Plc., a member of Standard Bank Group has expanded the scope of its operation in the financial services industry with the launch wholly-owned insurance subsidiary focusing on life insurance. This came following approval and license issuance by the National Insurance Commission (NAICOM) which granted the new insurance group the right to commence business operations. Akinjide Orimolade, chief executive, Stanbic IBTC Insurance, while speaking at the launch of the business stated that the new insurance provider will continue in line with…

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Brandishing Stanbic IBTC’s Impressive Gender Equity Scorecard

Stanbic IBTC Asset launches N100bn infrastructure fund

By Stanbic IBTC Recently, Stanbic IBTC Holdings PLC announced the promotions of several of its women to top executive roles across the Stanbic IBTC Group. These included the promotions of Wunmi Ehis-Uzenabor as Executive Director, Operations, Stanbic IBTC Asset Management; Busola Jejelowo as Executive Director, Investments, Stanbic IBTC Asset Management; Emi Agaba-Oloja, Executive Director, Stanbic IBTC Trustees; and Sakeenat Bakare, Executive Director, Business Development, Stanbic IBTC Insurance. These promotions which were in line with Stanbic IBTC’s corporate governance structure and succession policy further showcased the financial institution’s posture as an…

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Stanbic IBTC announces executive appointments across the Group

Stanbic IBTC announces executive appointments across the Group

Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has announced several key executive appointments across the Group. This is in a bid to fortify its market leadership position in the Nigerian financial services sector, according to a statement signed by Chidi Okezi, the company secretary and release to its shareholders and the investing public via the Nigerian Stock Exchange (NSE) on Thursday. It added that the appointments are in line with its corporate governance structure and succession plan; and following receipt of all required regulatory approvals, became effective…

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NOVA Investment to issue N50bn bond

The strange yield curve

Stanbic IBTC Stockbrokers has given a heads up regarding imminent commencement of book building, for a N10 billion issuance of seven-year fixed rate subordinated unsecured bond by Nova Merchant Bank Limited (NOVA). The bond will be issued via a funding vehicle, NOVAMBL INVESTMENTS SPV PLC (NOVAMBL) or simply referred to as the Issuer, is announced on Monday. The bonds are being issued under a SEC-approved N50 billion debt issuance programme. Nova Merchant Bank Limited is a licensed merchant bank in Nigeria, which is owned by experienced local and foreign investors.…

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Stanbic IBTC forecasts 3.3% contraction for Nigeria’s economy

Nigerian recession and contraction of economy

Analysts at Stanbic IBTC Bank have projected that Nigeria’s economy would sustain its recessionary trend in the second quarter of this year based on its current micro and macroeconomic indices. Anchoring some of their projections on the present purchasing managers index (PMI) which fell to 42.4 in May, amongst other indices, analysts at the bank foresee that the PMI picking in the months ahead but albeit at a level still below the 50 mark. In a statement issued by an economist with the bank, Gbolahan Taiwo, the lender predicted: “We…

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