Oladele Oduniyi
Stanbic IBTC Holdings has successfully met the Central Bank of Nigeria’s recapitalization requirements for national banks, which mandated a minimum capital base of #200 billion.
This was achieved through a rights issue that raised #148.7 billion and garnered an oversubscription of 21.9 per cent, resulting in an additional #181.4 billion.
This was announced on Tuesday from the financial institution revealed that the offering achieved a remarkable oversubscription of 21.9 per cent, reflecting robust investor faith and shareholder backing.
The bank’s acting CEO, Dr. Kunle Adedeji, attributed the success to the strong support and confidence of shareholders.
This capital mobilisation represents a calculated approach to fulfil the CBN’s demanding recapitalisation standards while establishing a robust financial base for continued expansion and technological advancement.
The announcement indicated that the rights issue’s positive results reflect shareholders’ confidence in Stanbic IBTC’s plans. The complete capital injection of N181.4 billion is anticipated to strengthen the group’s market position and achieve full regulatory adherence.
“This compliance is critical to our continued stability and success in today’s dynamic economic environment,” the statement noted.
Regarding this achievement, Stanbic IBTC Holdings’ Acting Chief Executive, Dr Kunle Adedeji, expressed gratitude to shareholders for supporting the group’s objectives and strategic path.
“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.
Dr Adedeji noted that Stanbic IBTC was well-equipped to address the CBN’s recapitalisation requirements, having already channelled N140 billion into Stanbic IBTC Bank from its parent entity. This action demonstrated the group’s dedication to forward-thinking solutions and flexibility.
Stanbic IBTC Bank’s Chief Executive, Wole Adeniyi, explained that the fresh capital would strengthen the bank’s operational capabilities, allowing for broader market expansion and improved client service delivery.
The CBN set a deadline of March 31, 2026, for banks to meet the new capital requirements, which vary based on the bank’s license type.
For national banks like Stanbic IBTC, the minimum capital requirement is N200 billion.