STANBIC IBTC BANK PLC
Status: Completed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Stanbic IBTC Bank (SIBTC) is the 12th largest bank in Nigeria. With over 180 branches SIBTC is active across all market segments including SME and Corporate Banking. SIBTC is a subsidiary of Stanbic IBTC Holdings PLC,and is a full financial services provider. The South Africa based Standard Bank Group, to which Stanbic IBTC Holdings belongs, is focused on building first-class local banks and connecting other selected emerging markets to Africa and to each other.
What is our funding objective?
FMO is the lead arranger for the 5 year loan facility of USD 90 million. The facility will be used for on-lending to SMEs and to projects in infrastructure and other industrial sectors including, oil and gas, power, ports, real estate, agriculture and telecommunications. These are key areas for growth in Nigeria that require long-term funding, currently not readily available in the country.
Why do we fund this investment?
FMO is committed to creating sustainable economic impact in emerging markets. By providing long term funding to SIBTC, FMO will contribute to the development of a robust SME sector in Nigeria, employment creation and ultimately growing the sectors of energy, agribusiness and other sectors thus transforming Nigeria’s oil based economy into a more diverse economy. By providing this long-term loan, FMO aims to help to bridge the financing tenor gap and capture opportunities to finance infrastructure development projects.
- Region
- Africa
- Country
- Nigeria
- Sector
- Financial Institutions
- Effective date
- 1/5/2015
- End date
- 12/24/2019
- Total FMO financing
- USD 40.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A