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Stanbic IBTC Bank Records LDR Of 69 Per Cent

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Olushola Okunlade Writes

Stanbic IBTC Bank Records LDR of 69%

In its circular, BSD/DIR/GEN/LAB/12/070, to banks dated January 07, 2020, on the regulatory measures to improve lending to the real sector of the Nigerian economy, the Central Bank of Nigeria (CBN) directed banks to maintain a minimum 65% Loan to Deposit Ratio (LDR) with a further requirement that an average daily 65% LDR compliance be maintained by banks.

Since the issuance of the regulatory directive and in line with its key strategic objective of driving economic growth in Nigeria, Stanbic IBTC Bank (“the Bank”) has increasingly focused on the growth of its credit exposures to the real sector of the economy. The focus and concerted efforts of the Bank’s management to ensure compliance with the regulatory directive of improving lending to the real sector of the Nigerian economy have been responsible for the growth in the risk asset portfolio for Stanbic IBTC Bank over the last two years.

The loan book increased by 18% from FY 2019 position of N556.4bn to N655.3bn as of 31 December 2020. The Bank also recorded an increased loan growth by 30% from the 31 December 2020 position to a gross risk asset position of N854.9bn recorded as of 30 September 2021. It is important to note that the risk asset growth of 18% and 30% recorded by the Bank in FY 2020 and as of Q3:2021 remain significantly higher than the industry average growth of 18% and 8% in FY 2020 and as at Q3:2021, respectively.

Consequent to the significant growth recorded in the Bank’s risk asset growth in 2020 and YTD 2021, the Bank has remained compliant with the CBN’s daily minimum LDR requirement of 65% with an FY 2020 daily LDR average of 65.84% and 2021 YTD daily average of 69.86%. It is important to note that the Bank suffered no CRR debits by the CBN for non-compliance with the regulatory LDR directive over the period.

For the good record, it is also noted that the growth in the Bank’s Cash Reserve Requirement (CRR) position from N369.0bn as of 31 December 2020 to N462.6bn as of 30 September 2021 has been largely on account of the monetary policy actions introduced by the CBN to rein in inflationary and exchange rate pressures in the economy. In line with its price stability and monetary policy mandates, the CBN is saddled with the responsibility of managing surplus liquidity in the system and at various times over the period, the CBN has introduced special CRR debits to sterilize surplus market liquidity. These special CRR debits which are over and above the minimum regulatory cash reserving requirement of 27.5% of customer deposit growth have indeed been responsible for the growth in Stanbic IBTC Bank’s total and effective CRR positions which stood at N462.6bn and 60.09% respectively as at 30 September 2021.

Notwithstanding the financial constraints arising from the sterilized liquidity from the CBN, Stanbic IBTC Bank remains very liquid and adequately capitalized with liquidity ratio and capital adequacy ratio standing at 96.2% and 15.7% respectively as of 30 September 2021 and above the regulatory minimum of 30% for liquidity ratio and 8% for capital adequacy ratio.

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Sterling Bank, NHEA Recognize Nigeria’s Healthcare Champions

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Sterling Bank, NHEA Recognize Nigeria’s Healthcare Champions

By Moninuola Sulaiman

Sterling Bank Plc, Nigeria’s leading commercial bank, has given special recognition awards to healthcare providers who played leading roles in the fight against the COVID-19 pandemic.

The awards were given to selected recipients at the 8th annual Nigeria Healthcare Excellence Awards (NHEA), which was held in Lagos over the weekend under the theme of Innovative Healthcare Services in the Era of Change.

NHEA is an initiative of Global Health Projects and Resources in collaboration with the Anadach Group of the United States of America. It is a yearly event where individuals and organisations are recognized and celebrated for their exceptional contributions to the healthcare sector.

Special recognition awards were given to Medbury Medical Services as the Most Responsive COVID-19 Testing Company of the Year and Seven-UP Bottling Company Plc as the Most Outstanding COVID-19 Consumables Manufacturer of the Year. Other recipients were the African Centre of Excellence for Genomics of Infectious Diseases (ACEGID), Redeemers University in Ede, Osun State as the Most Outstanding Genomic Laboratory of the Year, and Nassarawa State as the Most Outstanding State for COVID-19 Vaccination.

Speaking on the awards, Group Head, Health Finance with Sterling Bank, Ibironke Akinmade said the bank recognized and honored the champions of the COVID-19 pandemic because of the excellent services they rendered while the pandemic was raging in a bid to spur them to do more.

She said, “Sterling Bank is committed to improving access to healthcare for every Nigerian, and our flagship offering – digitization of State Health Insurance Platform – prefers 360-degree solution to help states bring healthcare to every citizen as well as provide a wealth of data to inform policies, planning and strategy, at no initial investment.”

Also speaking, the Minister of Health, Professor Ehanire Osagie, commended the organizers of the awards which were held post the different variants of the COVID-19 pandemic and the restoration of the economy to normalcy again.

The minister who was represented by the Managing Director of the Federal Medical Centre, Yaba, Lagos, Dr. Adedamola Dada, remarked that the purpose of recognizing and rewarding healthcare professionals that contributed to efficient and quality healthcare services is to foster excellence and sustain the quality.“Good healthcare delivery is a key objective of this present administration,” Professor Osagie said. 

Sterling Bank, NHEA Recognize Nigeria’s Healthcare Champions
Left-Right: Head, Health Sector Finance, Sterling Bank Plc, Adewale Adebowale; Project Director, Nigerian Healthcare Excellence Awards 2022, Dr. Wale Alabi and Group Head, Health Finance, Sterling Bank Plc, Ibironke Akinmade at the 8th Annual Nigerian Healthcare Excellence Awards in Lagos over the weekend.

Chairman of the Advisory Board of NHEA, Dr. Anthony Omolola said, “Over the years, NHEA has continued to strive to deliver new and creative ways to honor excellence across the healthcare space. This year is not different at all. At these awards, we are paying attention to those who pioneered innovative healthcare services in the era of change.”

Sterling Bank’s Divisional Head, Business Growth and Transaction Banking, Mr. Obinna Ukachukwu, observed that the bank recognized the role that NHEA is playing in the health sector by rewarding excellence and promoting positive outcomes in the sector.

He noted that Sterling Bank, a leading player in the financing of the health sector, decided to come on board to further support the excellence and growth of the sector.

NHEA Executive Secretary, Vivian Alkali, expressed the confidence that with Sterling Bank’s partnership and support, subsequent editions of NHEA will meet with greater success.

The NHEA initiative, through its eminent team’s research and innovation, has continued to encourage improvements and focus on the quality and standard of service provided by various stakeholders in the industry.

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Fidelity Bank Renovates Classroom Blocks, Commissions ATM Gallery In Zaria To Drive Financial Inclusion

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Fidelity Bank Renovates Classroom Blocks, Commissions ATM Gallery In Zaria To Drive Financial Inclusion

Olushola Okunlade Writes

A leading financial institution, Fidelity Bank Plc recently commissioned the newly renovated  Madrasatul Anwarul Islam school in Zaria,  Kaduna State as part of its Corporate Social Responsibility (CSR) initiatives targeted across Nigeria.

Established over five decades ago by the emir’s father, late Maga in Garin Zazzau, Alhaji Nuhu Bamalli, Madrasatul Anwarul Islam is the alma mater of the current Emir of Zazzau and has produced several notable personalities in the country.

The bank also inaugurated a state-of-the-art Automatic Teller Machine (ATM) gallery to drive financial inclusion within the community.

Speaking at the official project commissioning event held on Saturday, 18 June 2022, Executive Director, North Directorate, Fidelity Bank Plc, Hassan Imam, said the bank’s decision to renovate the school was borne out of its commitment to making learning conducive for both students and teachers across the country.

Fidelity Bank Renovates Classroom Blocks, Commissions ATM Gallery In Zaria To Drive Financial Inclusion
Left-Right: Emir of Zazzau, His Royal Highness, Alhaji Ahmed Nuhu Bamalli; Executive Director, North Directorate, Fidelity Bank Plc, Hassan Imam; and Divisional Head, Brand and Communications, Fidelity Bank Plc, Meksley Nwagboh at the commissioning of classroom blocks renovated by the bank at Madrasatul Anwarul Islam, Kwarbai, Zaria, Kaduna State on Saturday, 18 June 2022. The bank also inaugurated a state-of-the-art Automatic Teller Machine (ATM) gallery at the Emir’s palace at the event.

According to Imam, “Our CSR footprint extends beyond education, healthcare and youth empowerment initiatives across the country as we are driven by the belief that we can only succeed as an organization when the people and community where we do business succeed. That is why we have taken it upon ourselves to help upgrade the facilities here at Madrasatul Anwarul Islam. Our hope is that the teachers and students in the school would put the facility to good use.”

“As part of our commitment to drive financial inclusion across the country and boost commerce in Zaria in particular, we have installed an ATM gallery at the emir’s palace. We hope this would make financial services easier and accessible to members of the Zaria community in line with our mission as a bank and thank the emir, His Royal Highness, Alhaji Ahmed Nuhu Bamalli, for his support in executing this project as well,” explained Imam.

Applauding the bank for its gesture towards promoting education and commerce in Zaria, HRM Ambassador Alhaji Ahmed Nuhu Bamalli encouraged members of the community to put the facilities to good use and protect them against vandalism. He also urged businesses and merchants to patronize the bank as a way of appreciating their efforts in developing the community.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.7 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

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Fidelity Bank Bags Award For Best SME Bank In Nigeria

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Fidelity Bank Bags Award For Best SME Bank In Nigeria

Fidelity Bank Bags Award for Best SME Bank in Nigeria

Olushola Okunlade Writes

Fidelity Bank Plc, one of Nigeria’s foremost financial institutions, has added yet another accolade to its burgeoning collection of awards.

This time, the Bank has been recognized as the ‘Best SME Bank in Nigeria’ by the Global Finance Banking & Finance Awards 2022.

According to the organizers of the Global Banking and Finance review, the bank received the award after a comprehensive review and assessment of its intervention and provision of long-term financing support for small businesses across Nigeria.

Dedicating the award to customers and staff of the bank, Managing Director/ Chief Executive officer of Fidelity Bank, Mrs. Nneka Onyeali-Ikpe said, “Our long-running support for the growth and development of small businesses stems from our recognition of SMEs as critical agents of economic transformation in Nigeria. That is why we constantly innovate new ways of helping them meet their objectives. I thank our customers for keeping faith with us and our staff for going the extra mile in delighting our customers”.

Fidelity Bank Bags Award For Best SME Bank In Nigeria
Mrs Nneka Onyeali-Ikpe, Fidelity Bank CEO.

According to Mrs. Onyeali-Ikpe, over the years, Fidelity Bank has developed a strong multifaceted SME banking franchise, driven by tailored products and services. She also noted that the bank has attractive offerings backed by the requisite one-on-one and cluster-focused advisory services and hand-holding support for SME customers.

The Global Finance Banking Awards are recognized globally and justly regarded as the industry standard for premier banking and financial services excellence with key sources of data and intelligence on the global banking and finance industry. The yearly awards recognize deserving financial institutions and corporate organizations, that drive innovation in the global financing community. They reflect on the achievement, strategy, progressive, and inspirational changes taking place within the financial sector.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

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