Lagos, Nov. 1, 2023 – Stanbic IBTC Bank has ceased to be a public company, its parent company, Stanbic IBTC Holdings Plc, has said.
In a notice to the Nigeria Exchange Limited (NGX) and the Investing Public, IBTC holdings said Stanbic IBTC Bank had been re-registered as a private limited liability company.
“Stanbic IBTC Holdings Plc hereby notifies the Nigeria Exchange Limited and the Investing Public that following the receipt of all required regulatory and shareholders’ approvals, the re-registration of our Banking subsidiary – Stanbic IBTC Bank (the Bank) from a public company limited by shares to a private company limited by shares has been concluded.
“Accordingly, with effect from 31 October 2023, the Bank ceases to be a public company and shall going forward be referred to by its new name “Stanbic IBTC Bank Limited”.
Stanbic IBTC Holdings said the re-registration of the bank was to ensure proper alignment of the bank’s status and eliminate the existing brand confusion as many investors and members of the public hitherto referred to the bank as the listed entity and not Stanbic IBTC Holdings Plc.
The statement signed by Chidi Okezie, Company Secretary said the bank remained wholly owned by Stanbic IBTC Holdings Plc. (GBN)
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