Stanbic IBTC Holdings Plc has successfully concluded its Rights Issue, raising N148.7 billion and exceeding the Central Bank of Nigeria’s (CBN) recapitalization requirement.
The offer recorded an impressive oversubscription rate of 21.9%, demonstrating strong investor confidence and shareholder support.
According to the bank, the successful outcome of the rights issue demonstrates the trust shareholders have in Stanbic IBTC’s long-term strategy.
“This compliance is critical to our continued stability and success in today’s dynamic economic environment,” the statement noted.
The total capital inflow of N181.4 billion is expected to enhance the group’s competitiveness and ensure full regulatory compliance.
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.
Adedeji added that Stanbic IBTC was fully prepared to meet the CBN’s recapitalization challenge, with N140 billion already infused into Stanbic IBTC Bank by the parent company.
The move highlights the group’s commitment to innovation and adaptability.
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.
