#Stanbic

[wamathai]

Stanbic reports a 34.2% rise in net profit to Ksh. 12.2 billion for 2023

Stanbic has reported a 34.2 percent rise in net profit to  Ksh. 12.2 billion for the financial year ended December 31, 2023. The rise in profitability was attributed an increase in net interest income, which grew from Sh18.9 billion to Sh25.6 billion. Non-interest income, primarily generated from fees and commissions, also experienced a positive growth from Sh13.14 billion to Sh15.67 billion. The…

[touchaheartnews]

FIDELITY BANK PLC UNDERTAKES A ₦29.6BN RIGHTS ISSUE AND ₦97.5BN PUBLIC OFFER

L – R: Stanley Amuchie, Executive Director, Chief Operations & Information Officer, Fidelity Bank Plc; Oladele Sotubo, MD/CEO Stanbic Capital; Dr Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc; Mustafa Chike-Obi Chairman, Fidelity Bank Plc; Ezinwa Unuigboje, Company Secretary, Fidelity Bank Plc; and Jubril Enakele, Chief Executive, Iron Global Markets Limited at the signing ceremony of the…

[destinafrica]

Stanbic Bank Kenya And Mobikey Kenya Ink Deal to Revolutionize Vehicle F...

[funashis]

How to Withdraw Cash From Stanbic Bank Instant Money

Stanbic Bank Instant Money is a convenient and secure way to send money to anyone in Zambia, as long as they have an active mobile number.

Stanbic Bank Instant Money is a convenient and secure way to send money to anyone in Zambia, as long as they have an active mobile number. Here’s how it works: if you have a Stanbic Bank account with active Internet and mobile banking services, you can quickly generate a payment. The best part? The recipient doesn’t need a bank account. As long as they have an active mobile number, they can…

[naijablinks]

Stanbic IBTC launches savings challenge for @ease wallet holders

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has launched its @ease Savings Challenge to encourage wallet holders to adopt a savings culture. The challenge which commenced March 1st 2023 is set to run till June 8th 2023, while participants will have 100 days to save a minimum of N1,000 daily or N7,000 weekly in their Stanbic IBTC @ease wallets. The top 50 savers at the end of the 100…

[rnnonline]

Stanbic IBTC Pension Managers Launches FUZE Talent Hunt

Stanbic IBTC Pension Managers Launches FUZE Talent Hunt

A brand-new talent search called “FUZE” was started by Stanbic IBTC Pension Managers Limited, a division of Stanbic IBTC Holdings PLC. Through this project, the top pension fund administrator (based on assets under management) hopes to highlight local talent and support their pursuit of their entrepreneurial and creative potential. Youth empowerment would be the focus of the FUZE Talent Hunt,…

[thenigeriafm]

JOBS- Software Engineer at Stanbic IBTC Bank

JOBS- Software Engineer at Stanbic IBTC Bank

JOBS- Software Engineer at Stanbic IBTC Bank  Leading African banking organization Stanbic IBTC Bank has a focus on emerging markets globally. It now covers 16 African nations and has been a pillar of South Africa’s financial system for 150 years. In order to provide outstanding customer service and cutting-edge financial solutions, Standard Bank believes in technological innovation. JOBS-…

[marketforcesafrica-blog]

Stanbic IBTC Supports Digital Trade Payment Solution with First Outbound PAPSS Transaction

Stanbic IBTC Supports Digital Trade Payment Solution with First Outbound PAPSS Transaction

Stanbic IBTC Supports Digital Trade Payment Solution with First Outbound PAPSS Transaction Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings PLC, completed the first outbound and inbound transaction on the Pan-African Payment and Settlement System (PAPSS) platform in Nigeria. PAPSS, the centralised Financial Market Infrastructure (FMI) that supports payment arrangements with the…

[wamathai]

Stanbic Bank reports a Ksh. 3.9 Billion net profit for the first quarter

Stanbic Bank reports a Ksh. 3.9 Billion net profit for the first quarter

Stanbic Bank has reported a KShs. 3.9 Billion net profit for the first quarter ended 31st March 2023. The rise in profitability was driven by a 65% rise in revenue to KShs 11 billion underpinned by balance sheet growth, fees income from client services and trading income from financial intermediation. In particular, Stanbic Bank (in conjunction with SBG Securities Ltd) successfully completed a…

[touchaheartnews]

Basil Omiyi Retires as Stanbic IBTC Holdings Chairman

Mr Basil Omiyi has retired as Chairman of Stanbic IBTC Holdings after seven years of heading the group. He joined Stanbic IBTC in March 2015 as a Non-Executive Director before becoming the group’s chair on May 15, 2017, replacing Atedo Peterside. According to the press release by the group, a new board chairman has been approved and will be announced at a future date after receiving regulatory…

[rnnonline]

Stanbic IBTC Upgrades Short-Term Loan for Healthcare

Stanbic IBTC Upgrades Short-Term Loan for Healthcare

In order to further support the country’s healthcare system, Stanbic IBTC Bank, a part of Stanbic IBTC Holdings, has enhanced its short-term lending program for the healthcare value chain. This upgrading guarantees a flexible repayment schedule, a reasonable interest rate, and no collateral, allowing sector operators to access better funding and reach the highest level of service delivery. The…

[thenigeriafm]

Jobs - @Ease at Stanbic IBTC Bank Manager Product

Jobs – @Ease at Stanbic IBTC Bank Manager Product

Jobs – @Ease at Stanbic IBTC Bank Manager Product  Leading African banking organization Stanbic IBTC Bank has a focus on emerging markets globally. It now covers 16 African nations and has been a pillar of South Africa’s financial system for 150 years. Lecturer II (Health Sciences) at the Enugu State University of Medical and Applied Sciences In order to provide outstanding customer service and…

[marketforcesafrica-blog]

Stanbic IBTC Advocates Innovative Financing Solutions to Boost Healthcare

Stanbic IBTC Advocates Innovative Financing Solutions to Boost Healthcare

Stanbic IBTC Advocates Innovative Financing Solutions to Boost Healthcare Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has advocated effective collaboration among stakeholders and launching of innovative financing solutions as means of boosting the healthcare industry in Nigeria. Speaking during the panel session at the recently held Medic West Africa Conference, Jane Ike-Okoli,…

[touchaheartnews]

Stanbic IBTC Bank Nigeria PMI®: Record Rise In Selling Prices

The impact of currency weakness on the Nigerian private sector was evident again in March. Purchase costs rose at the sharpest rate on record, meaning companies increased their own selling prices at an unprecedented pace. The rate of expansion in business activity ticked higher, but steep price rises acted to limit demand and the pace of new order growth eased to a four-month low. Meanwhile,…

[stanbicibtcassestmanagement]

Asset Management in Nigeria: Opportunities and Challenges in a Growing Market

Asset management in Nigeria is a burgeoning sector poised for significant growth, driven by a combination of economic reforms, increasing foreign investment, and a growing middle class. As the largest economy in Africa, Nigeria presents vast opportunities for asset management firms aiming to tap into the wealth and investment needs of its diverse population.

Overview of Asset Management

Asset Management Company in Nigeria involves the professional management of various securities and assets, such as stocks, bonds, real estate, and other investments, to meet specified investment goals for the benefit of investors. In Nigeria, this sector includes mutual funds, pension funds, and other investment vehicles managed by asset management companies.

Key Players and Market Dynamics

The asset management industry in Nigeria is dominated by several key players, including ARM Investment Managers, FBNQuest Asset Management, and Stanbic IBTC Asset Management, among others. These firms offer a range of products and services, catering to both individual and institutional investors. The market is regulated by the Securities and Exchange Commission (SEC) and the National Pension Commission (PenCom), ensuring a framework for transparency and investor protection.

Drivers of Growth

Several factors contribute to the growth of asset management in Nigeria:

Economic Reforms and Stability: Economic policies aimed at diversifying the economy away from oil dependence have created a more stable and attractive investment environment. Government initiatives to improve infrastructure and support SMEs also stimulate investment opportunities.

Growing Middle Class: The rise of the middle class in Nigeria has led to an increase in disposable income and a higher propensity for investment. This demographic shift is driving demand for more sophisticated financial products and services.

Pension Fund Growth: The mandatory pension scheme introduced in 2004 has seen significant growth, with pension fund assets reaching over ₦13 trillion. These funds are increasingly being channeled into various investment opportunities, providing a substantial boost to the asset management sector.

Foreign Investment: Nigeria’s large market and strategic location make it an attractive destination for foreign investors. The influx of foreign capital, particularly in the form of Foreign Direct Investment (FDI), has bolstered the asset management industry.

Challenges and Opportunities

Despite its potential, the asset management sector in Nigeria faces several challenges:

Regulatory Environment: While regulations are essential for market integrity, overly stringent or unclear regulations can stifle innovation and growth. There is a need for a balanced regulatory framework that protects investors while encouraging market development.

Market Volatility: The Nigerian market can be volatile, influenced by factors such as fluctuating oil prices, political instability, and currency devaluation. Asset managers need robust strategies to navigate these uncertainties.

Financial Literacy: Limited financial literacy among the populace can hinder the growth of the asset management industry. Education and awareness campaigns are crucial to helping potential investors understand the benefits of professional asset management.

Conclusion

Asset management in Nigeria is at a critical juncture, with immense opportunities for growth driven by economic reforms, a burgeoning middle class, and increasing foreign investment. While challenges such as regulatory hurdles and market volatility persist, the sector is well-positioned to thrive with the right strategies and regulatory support. As Nigeria continues to evolve economically, the Asset management company of Nigeria will play a pivotal role in harnessing the country’s financial potential and fostering sustainable economic development.