Stanbic IBTC, Acting CEO Kunle Adedeji
Stanbic IBTC Holdings PLC has successfully closed its Rights Issue, raising ₦148.7 billion in fresh capital—a major boost for the financial institution as it works to meet the Central Bank of Nigeria’s (CBN) new recapitalisation requirements. The capital raise, which saw a strong oversubscription rate of 21.9%, reflects solid investor confidence in the bank’s strategic direction and growth prospects.
Announcing the results, Dr. Kunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings, expressed gratitude to shareholders for their backing.
“The enthusiastic participation of our shareholders in the Rights Issue indicates their strong belief in our strategic vision and long-term objectives. This successful capital increase is not merely a financial milestone; it marks a critical step in enhancing our capacity for sustainable growth and sectoral leadership,” he said.
The successful offering positions Stanbic IBTC among the leading banks preparing to comply with the CBN’s new capital thresholds. Earlier this year, the apex bank directed banks to raise their minimum capital base in a bid to strengthen the financial system and ensure resilience in the face of economic challenges.
Beyond the Rights Issue, Stanbic IBTC Bank, the group’s banking subsidiary, also received ₦140 billion capital injection from its parent company, Stanbic IBTC Holdings. This further consolidates the bank’s capital base, placing it in a stronger position to explore new market opportunities and navigate the evolving financial landscape.
Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, said the additional funds will allow the bank to boost its operational capacity and competitiveness.
“This capital injection significantly enhances our operational capabilities and enables us to capture new market opportunities while continuing to meet the diverse financial needs of our clients,” Adeniyi noted.
The fresh capital will be deployed across various growth areas, including digital transformation, customer experience enhancement, and product innovation. Management says these initiatives are designed to align the bank’s operations with global standards while supporting Nigeria’s financial inclusion agenda.
Market analysts view the success of the Rights Issue as a strong indicator of investor trust in Stanbic IBTC’s leadership and long-term strategy, especially in an economic environment where capital raising activities face increasing scrutiny.
The recapitalisation drive comes at a critical time for Nigeria’s banking sector, as players jostle to meet the CBN’s deadline amid rising competition and economic uncertainty. Stanbic IBTC’s swift and well-executed capital raise signals its readiness to lead in the next phase of Nigeria’s financial sector growth.
@ The Ameh News: All Rights Reserved
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