
The Digest:
Stanbic IBTC Bank has successfully met the Central Bank of Nigeria's (CBN) recapitalisation requirements, achieving a robust financial base through its parent company's oversubscribed Rights Issue.
Key Points:
- Stanbic IBTC Bank met CBN recapitalization requirements.
- Parent company's Rights Issue raised N148.7 billion.
- The issue was oversubscribed by 21.9%, totaling N181.4 billion.
- Ensures a robust financial foundation for future growth.
- Demonstrates strong shareholder trust and strategic vision.
- The bank's capacity and innovation are significantly enhanced.
- Full compliance with CBN mandates achieved.
Sources: Vanguard