What it does: Stanbic IBTC specializes in the provision of financial services such as credit and debit cards issuance, loan services, stock brokerage, asset management, investment banking, mortgages, investment advisory, pension management, and corporate banking to its customers across Nigeria, West Africa, and even outside Africa.
Mission: Stanbic IBTC Bank is committed to providing progress-driven solutions.
Size and presence: Stanbic IBTC Bank has more than 4,200 employees in over 33 countries globally.
Best known for: Stanbic IBTC was named the best bank in the SME and retail segments by KPMG, a global consultancy and audit firm, during its Banking Industry Customer Experience Survey in Nigeria last year. Stanbic IBTC is also known for providing its customers quality services in other financial areas.
The good bits: Great work culture. Healthy competition. The bank's management is friendly and understanding. Good work-life balance. Job security.
The not so good bits: According to employees, the pay doesn't match the volume of work done.
Stanbic IBTC Holdings was born from a merger between IBTC Chartered Bank and Stanbic Bank Nigeria Ltd. in 2007. SAHL (Stanbic Africa Holdings Limited) made an offer on behalf of Standard Bank to acquire additional IBTC shares to be the principal shareholder in the unified business.
The purchase of those shares took their shareholdings from 33.33% to 50.75%. After the merger, Stanbic IBTC Holdings commenced trading on the Nigerian Stock Exchange.
In 2012, it adopted the organizational structure of a holding company to adhere to the reformed regulatory framework advised by the Central Bank of Nigeria.
These regulations required Nigerian commercial banks to either adopt a holding company structure or deprive themselves of the provision of secondary financial services.
Stanbic Holdings, the parent company of Stanbic IBTC Bank, is governed by three executive members and nine non-executive members of the board of directors.
Stanbic IBTC bank has a great work culture that draws a lot of experienced professionals, fresh graduates, and interns to it. Their healthy work culture is a crucial reason for their productivity and efficiency in service. Young bankers have an opportunity to learn from their more experienced colleagues.
The culture also thrives on inclusion because there's no discrimination towards specific categories of people that are often marginalized. For instance, women are encouraged in Stanbic IBTC to take up positions of leadership. Also, co-workers have mutual respect and often collaborate on team projects.
The hiring process in Stanbic IBTC bank involves multiple stages. Firstly, interested applicants must visit the company's website to create a new account, register their CV, and upload their documents. New visitors will go to the "First Time Visitor" tab, while returning visitors will go to the "Returning Visitor" tab.
Then applicants are to signify the Early Careers Programme they want to join to complete the application programs. After selecting the qualified candidates, the next stage is video call interviews. The third stage is the assessment, and the last stage is the job offer.
Stanbic is good for one's career prospects because they encourage growth and learning. Stanbic IBTC Bank has internships, leadership, and graduate programs that fresh graduates and interns can participate in and fast-track their professional growth.
Aside from the training programs available, fresh graduates and interns can also learn from on-the-job experiences.
The average annual salary for a fresh graduate in Stanbic IBTC is ₦75,000.
Stanbic IBTC bank actively participated in the fight against the COVID-19 outbreak in Nigeria. They donated ₦250 million to support the Nigerian government and boost the health sector's ability to fight the pandemic.
According to news reports, the management of Stanbic IBTC Bank and minor shareholders clashed over suspicions that the bank would float a rights issue concerning a fresh capital of at least ₦18 billion.