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32 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview
Overview
Making an impact for our
OverviewOur vision and valuesCorporate profileOur networkRecognition
Business reviewChairman’s statementChief executive’s statement Economic reviewFinancial review Executive committee Personal and Business Banking + Case study – Workplace banking + Case study – Prudent Energy & Services Ltd+ Case study – Iron Products Corporate and Investment Banking + Case study – Seplat Petroleum Development Company Ltd + Case study – Telecommunications TransactionsWealth Abridged sustainability report Enterprise risk review Annual report and financial statements Board of directorsDirectors’ reportStatement of directors’ responsibilityCorporate governance report Report of the audit committeeIndependent auditor’s reportStatement of financial positionStatement of profit or lossStatement of cash flowsNotes to the annual financial statementsAnnexure AAnnexure B
Other informationManagement teamBranch networkContact information
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customers
54 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview
Upholding the highest levels of integrity
Our entire business model is based on trust and integrity as perceived by our stakeholders, especially our clients.
Our vision and values
The values that underpin our strategy
To be the leading end-to-end financial solutions provider in Nigeria through innovative and customer-focused people.
Constantly raising the bar
We have confidence in our ability to achieve ambitious goals and we celebrate success, but we must never allow ourselves to become complacent or arrogant.
Serving our customers
We do everything in our power to ensure that we provide our clients with the products, services and solutions to suit their needs, provided that everything we do for them is based on sound business principles.
Working in teams
We, and all aspects of our work, are interdependent. We appreciate that, as teams, we can achieve much greater things than as individuals. We value teams within and across business units, divisions and countries.
Respecting each other
We have the highest regard for the dignity of all people. We respect each other and what Stanbic IBTC stands for. We recognise that there are corresponding obligations associated with our individual rights.
Being proactive
We strive to stay ahead by anticipating rather than reacting, but our actions are always carefully considered.
Growing our people
We encourage and help our people to develop to their full potential and measure our leaders on how well they grow and challenge the people they lead.
Delivering to our shareholders
We understand that we earn the right to exist by providing appropriate long-term returns to our shareholders. We try extremely hard to meet our various targets and deliver on our commitments.
76 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview
Stanbic IBTC Holding PLC traces its origin to Investment Banking and Trust Company Limited (‘IBTC’), a private limited liability company on 2 February 1989. IBTC was granted a merchant banking license in February 1989 and commenced operations on 1 March 1989. IBTC’s merchant banking license was converted to a universal banking license in January 2002, pursuant to the universal banking guidelines of the CBN. In 2005, IBTC became a public company and its shares were listed on The Nigerian Stock Exchange.
In December 2005, IBTC merged with Chartered Bank PLC and Regent Bank PLC and changed its name to IBTC Chartered Bank PLC (‘IBTC Chartered’) on 25 January 2006. On 24 September 2007, IBTC Chartered merged with Stanbic Bank Nigeria Limited (‘Stanbic Bank’), a wholly owned subsidiary of Stanbic Africa Holdings Limited (‘SAHL’), which in turn is a subsidiary of Standard Bank Group Limited of South Africa. As part of the transaction that resulted in the combination of IBTC Chartered and Stanbic Bank, SAHL acquired a majority shareholding (53.2%) in the enlarged bank, which was named Stanbic IBTC Bank PLC.
On 8 November 2012, Stanbic IBTC officially adopted a holding company structure in compliance with the revised regulatory framework by the Central Bank of Nigeria which requires banks to divest from non-core banking businesses or adopt a HoldCo structure.
Under the new structure, the operating subsidiaries of Stanbic IBTC Holdings PLC are Stanbic IBTC Bank, Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset Management Limited, Stanbic IBTC Trustees Limited, Stanbic IBTC Capital Limited, Stanbic IBTC Stockbrokers Limited, and Stanbic IBTC Ventures Limited. Stanbic IBTC Nominees Nigeria Limited and Stanbic IBTC Bureau de Change Limited are the only subsidiaries of Stanbic IBTC Bank.
Stanbic IBTC Insurance Brokers was incorporated on 29 December 2014 as a subsidiary of Stanbic IBTC Holdings PLC. The new Company is however yet to commence business as the Insurance brokerage license is still being processed.
Corporate profile
New structure
Gross revenue
Total deposits
Total income
Gross loans and advances
Corporate andInvestment
Banking60%
Personal and Business Banking 40%
Corporate andInvestment
Banking57%
Personal and Business Banking 43%
Corporate andInvestment
Banking53%
Wealth 17%
Personal and Business Banking 30%
Corporate andInvestment
Banking49%
Wealth 22%
Personal and Business Banking 29%
Total income
N51.4 billionCorporate and investment banking services to government, parastatals, larger corporates, financial institutions and international counterparties in Nigeria.
Total income
N30.7 billionBanking and other financial services to individual customers and small to medium sized enterprises.
Total income
N22.5 billionInvestment management in form of asset management, pension fund administration and trusteeship.
Corporate and Investment Banking (CIB)
Personal and Business Banking (PBB)
Wealth
Stanbic IBTC Holdings is a full service financial institution which offers a wide range of products to a variety of segments. Stanbic IBTC provides end-to-end financial solutions which include corporate and investment banking, personal and business banking, stockbroking and wealth management.
Standard Bank Group, to which Stanbic IBTC belongs, is rooted in Africa with strategic representation in 20 key sub-Saharan countries and other emerging markets. Standard Bank has been in operation for over 150 years and prides
itself on being a global bank with African roots. The largest African bank by assets and earnings, it operates in 20 countries on the African continent, including South Africa, as well as in other selected emerging markets.
We uphold high standards of corporate governance and are committed to advancing the principles and practice of sustainable development. Our success and growth over the long term is built on making a difference in the communities in which we operate.
99.9% 99.9% 99.9% 70.6% 99.9%
Stanbic IBTC Holdings PLC
Stanbic IBTCBank PLC
Stanbic IBTCAsset Management Limited
Stanbic IBTCBureau de Change Limited
Stanbic Nominees Nigeria Limited
Stanbic IBTCCapital Limited
Stanbic IBTCStockbrokers Limited
Stanbic IBTCPension Managers Limited
Stanbic IBTCTrustees Limited
Stanbic IBTCInvestments Limited
Stanbic IBTCVenturesLimited
99.9%99.9% 99.9%99.9%99.9%
98 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview
Our network
1 Angola
2 Botswana
3 Cote d’ivoire
4 DRC
5 Ethiopia
6 Ghana
7 Kenya
8 Lesotho
9 Malawi
10 Mauritius
11 Mozambique
12 Namibia
13 Nigeria
14 South Africa
15 South Sudan
16 Swaziland
17 Tanzania
18 Uganda
19 Zambia
20 Zimbabwe
10
1120
19
9
174
18
7
5
151363
1
2
12
16
8
14
Market capitalisation
R232 billion (USD20 billion)
Total assets
R1,907 billion (USD165 billion)
Operating in
20 African countriesand 13 countries outside Africa
Branches ATMs
13 FCT Abuja region 26 FCT Abuja region
28 Lagos Island region 51 Lagos Island region
33 Lagos Mainland region 116 Lagos Mainland region
8 North Central region 31 North Central region
9 North East region 12 North East region
22 North West region 35 North West region
22 South East region 35 South East region
12 South South region 29 South South region
33 South West region 80 South West region
49,259 employees (2,181 in Nigeria)
1,233 branches (180 in Nigeria)
8,623 ATMs (415 in Nigeria)
Group overview
Nigeria overview
1110 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview
Recognition
Awards and recognition
1 Best Investment Bank in Nigeria Euromoney award of excellence (awarded to Stanbic IBTC Capital)
2 Best SME Bank in Nigeria International Finance Magazine award
3 2014 Best Bank in Nigeria Award Euromoney Real Estate Survey
4 The most active Dealing Member Firm (Stockbroking) The Nigerian Stock Exchange CEO Award 2014
5 Pension Administrator of the year 8th LEAD Africa 2014 – (awarded to Stanbic IBTC Pension Managers)
6 Best IPO (Seplat) in Africa EMEA Finance award 2014
7 Best follow-on funding in Africa EMEA Finance award 2014
8 Best supranational borrower EMEA Finance award 2014
9 Best syndicated loan of the year EMEA Finance award 2014
10 Best sub-custodian bank in Nigeria 2014 Global Finance magazine awards
11 Best sub-custodian in Nigeria 2014 Global Investor awards
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