STANBIC IBTC BANK PLC


Overview

  • Reference: P-NG-HAB-016
  • Approval date: 27/05/2014
  • Start date: 14/01/2016
  • Appraisal Date: 25/10/2013
  • Status: OngoingOnGo
  • Implementing Agency: Stanbic IBTC Bank PLC
  • Location: Nigeria

Description

Use of Funds: Long-term financing to a new client of the AfDB, Stanbic IBTC Bank PLC of Nigeria ("SIBTC"), for on-lending to small and medium-sized enterprises ("SMEs") operating in various sectors of the Nigerian economy, including agriculture/agribusiness, transportation and manufacturing, as well as for financing renewable energy and energy efficiency ("RE/EE") projects in Nigeria.

Borrower: SIBTC is a medium-sized bank in terms of market share and branch network. It was created in 2007 following the merger between Stanbic Bank Nigeria and IBTC Chartered Bank PLC. Its majority shareholder (52.8%) is the Standard Bank Group ("SBG") of South Africa, Africa


Key contacts

AKINWUMI Emmanuel Ibituase - PIFD1


Costs

Finance source Amount
ADBUSD 49,885,928
Co-financierUSD 16,628,643
DeltaUSD 166,616,930
TotalUSD 233,131,500