Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit



Share knowledge. Ask questions. Find answers.

Community blog

Read our latest news and views and get to know us better

Connected to Nigeria
Standard Bank Team
Super Contributor

Stanbic IBTC Bank officially became part of Standard Bank Group on 31 March 2008. This was the result of the merger of Stanbic Bank (Nigeria) Limited, a member of Standard Bank Group Limited, and the IBTC Chartered Bank Plc.

The bank is a full service universal bank with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management.

Nigeria is a country of immense potential and opportunity and we have the right people to make it happen. The hard work is paying off for Stanbic IBTC Bank. In 2009 the bank was awarded a number of prestigious awards: Best Sub Custodian in Nigeria, at the Global Investors Magazine Awards; Investor Analyst of the Year 2009, at the Africa Investors Awards; and Best Investment Bank Nigeria, Euromoney Awards.

Nigeria has enormous oil and gas reserves, vast agricultural lands, and natural resources. The economy was based on agricultural and trading activities until the mid-1970s when it became heavily dependent on oil, which accounts for more than half of the national revenue and over 90% of export earnings.

Stanbic IBTC Bank has experts on the ground when it comes to structuring deals around such resources.

Agriculture, however, employs over two thirds of the population, and accounts for a third of the GDP. Nigeria has a dynamic private sector and is the second largest economy in sub-Saharan Africa after South Africa. It is Africa’s largest country and the world’s seventh largest crude oil producer at over two million barrels per day.