Stanbic IBTC Gets Laurels for Contribution to Nigerian Economy

By Sodeinde Temidayo David

Stanbic IBTC Holdings has continued to receive different acknowledgements and awards for its outstanding contribution to the Nigerian financial industry and economy.

In the recent statistical update of the National Bureau of Statistics (NBS), Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in the second quarter of the year with $310.21 million, which accounts for 35.43 per cent of the total capital inflow in the period.

In addition, Stanbic IBTC Bank emerged again as the Best Sub-Custodian Bank in Nigeria at the 2021 edition of the Global Finance Best Sub-Custodian Bank Awards organised by the global finance magazine.

The organisation achieved a remarkable feat by winning the award for the 10th consecutive year.

The bank received the award, leading other nominated banks in having outstanding service in customer relations, quality of service, competitive pricing, innovative technology platforms, post-settlement operations, business continuity plans, and knowledge of local regulations and practices.

Speaking on this, the Chief Executive of Stanbic IBTC Bank, Mr Wole Adeniyi, expressed his delight at the announcement, saying that the award had once again placed Stanbic IBTC Bank on a pedestal of excellence as a foremost financial services provider in Nigeria.

“We are excited that Stanbic IBTC Bank PLC has been recognised as the best Sub-Custodial Services Provider in Nigeria for the 10th consecutive year.

“We attribute this award and esteemed recognition to our team’s hard work and dedication in carrying out custodial services, our ever-evolving technological innovation in service delivery, and our passion for client satisfaction. We will not relent in giving our absolute best at all times,” he said.

Also, on his part, the Chief Executive, Stanbic IBTC Nominees, Mr Babatunde Majiyagbe, spoke of the award, expressing his delight in the commitment and performance the bank had shown to deserve the award.

“The criteria for this recognition show that we are on the right path as we continually seek ways to provide the best-in-class service to our clients despite current global challenges.

“Client-focus and digitisation remain key drivers for business success, and we will continue to provide value because we are committed to making real progress,” Mr Majiyagbe disclosed.

Similarly, Stanbic IBTC Holdings PLC was declared the Holding Group Category winner at the 2020 edition of the Next 100 Global Awards by the international finance magazine Global Banking and Finance Review.

The Next 100 Global Awards recognised organisations with exceptional strategy, achievements, dedication, and leadership.

Some of the indices that were taken into cognisance in awarding Stanbic IBTC included leadership and team experience, quality, track record, industry footprint, social contribution, economic impact, and the level of expertise.

Other criteria were growth rate, industry awards and recognitions, technological advantages, customer response and engagement, the disruptiveness of solutions in respective markets, and impact on the respective industry.

The CEO, Stanbic IBTC Holdings PLC, Mr Demola Sogunle, also commented, “We are excited to be listed amongst winners of the next 100 global awards 2020, specifically in the holding group category.

“This is a testament to the high operating standard at Stanbic IBTC and proof of the confidence that our numerous customers have in our service delivery.”

Also, the organisation was honoured with the outstanding community service award in corporate social responsibility by the Olambe community in Ogun State. The award was in recognition of the organisation’s meritorious contributions to the development of the Olambe community.

On congratulating the leading financial institution on behalf of Olambe Community, the CEO, Ascend Hotels Limited, Mr Wale Olatunde said, “This is a well-deserved honour given to the organisation for being dependable and supportive over the years. We recognise and appreciate the positive impact and contributions of the organisation to Olambe Community.”

Mr Wole Adeniyi spoke of Stanbic IBTC’s penchant for leaving lasting legacies, especially amongst host communities.

He said, “through our Corporate Social Investment (CSI) initiative, which is hinged on three major pillars, namely: education, health and economic empowerment, we consistently reach out to underserved communities and provide the assistance required to make the society a better place.”

Stanbic IBTC, over the years, has been a recipient of several awards for outstanding financial performance, excellent customer service delivery, and management efficiency.