Stanbic IBTC Holdings Plc has successfully concluded its Rights Issue, raising N148.7 billion—exceeding the Central Bank of Nigeria’s (CBN) recapitalisation requirement.
In a statement issued on Tuesday, the bank said the offer recorded an impressive oversubscription rate of 21.9 per cent, underscoring strong investor confidence and shareholder support.
The capital raise, described as a strategic move, positions the group to meet the CBN’s stringent recapitalisation mandate while laying a solid financial foundation for sustained growth and innovation.
According to the statement, the successful outcome of the rights issue demonstrates the trust shareholders have in Stanbic IBTC’s long-term strategy.
The total capital inflow of N181.4 billion is expected to enhance the group’s competitiveness and ensure full regulatory compliance.
“This compliance is critical to our continued stability and success in today’s dynamic economic environment,” the statement noted.
Commenting on the development, Acting Chief Executive of Stanbic IBTC Holdings, Dr Kunle Adedeji, thanked shareholders for their belief in the group’s vision and strategic direction.
“This capital increase is not just a financial milestone—it’s a significant step towards enhancing our capacity for sustainable growth in the sector,” he said.
He added that Stanbic IBTC was fully prepared to meet the CBN’s recapitalisation challenge, with N140 billion already infused into Stanbic IBTC Bank by the parent company.
The move. he said highlighted the group’s commitment to innovation and adaptability.
Also speaking, Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, said the new capital would boost the bank’s operational capacity, enabling it to expand its market reach and better serve the diverse needs of its clients.(NAN)
