Stakeholders and major investors in the Nigerian capital market, who take advantage of the current offer provided by the Standard Bank of South Africa, now Stanbic Bank of Nigeria, and IBTC Chartered Bank will, in no long time, have an unpararelled dominance of the financial market as well as substantial share dividends to smile home.

This was the message of Stanbic Bank and IBTC Chartered, articulated Thursday, by executives of both banks at a media briefing at the Nigerian Stock Exchange, Lagos. Titled ‘Facts beyond Figures', the merger was essentially meant to reposition the two banks for greater competitiveness in Nigeria.

Chief executive officer of the Standard Bank, Mr G.R. Brackenridg, said the vision for the merger was essentially predicated on enhancing the competitive positioning of both banks by creating one of Nigeria’s leading bank with significant capital and asset base, offering a full rang of financial product and services.
“We know that Nigeria has a huge market and we are here not like every other bank you may have known in the past. We are here to give Nigerians the product and taste of one of best banking corporate practices. This is what we have been known for many years in South Africa.
The deal will offer millions of Nigerians the opportunity of what the Standard Bank have been known for in other parts of the world, namely, high ethical practice in banking governance that will transform the financial base of not only the rich people, but also the average poor people”

Earlier, the managing director of the IBTC Chartered Bank, Mr Atedo Peterside, had called on Nigerian investors and the general public to see the opportunity as one of the best in the banking business, adding that  the offer was the best for the general public and an opportunity that will  be harnessed by any wise investor.