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Tag: Stanbic IBTC

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Price pressure, weak demand drives PMI to seven-month low

The Stanbic IBTC Purchasing Managers Index fell to a seven-month low amid weak demand and price pressures. The monthly PMI, issued on Monday, showed that the headline figure generated from the survey fell to 50.1 points in June from 52.1 in May, the lowest level in seven months, according to The Punch. Commenting on the […]

FX payments rose to $1.3bn in February - CBN
Business

FX drives business costs to highest in 10 years

Due to the February weakening in the currency rate, businesses in Nigeria saw the biggest increase in input costs in a decade. The Times recorded that the Purchasing Managers Index for February 2024 by Stanbic IBTC indicates that business conditions saw the lowest improvement since December 2023, as Nigeria’s business PMI fell sharply from 54.5 […]

How inflation, forex crisis may affect consumer goods industry - Report
Business

How declining businesses affect inflation – Report

The August Stanbic IBTC Purchasing Managers Index survey revealed that the private sector activity decreased halfway through the third quarter of the year as a result of weakening demand brought on by rising costs. The Punch reported that the input costs and output charges reportedly climbed to the greatest level since the survey’s start roughly ten […]

Inflation causes decline in private sector productivity, employment - PMI
Banking

Stanbic IBTC shareholders make 124% profit

The first half of the year ending in June 2023 would see higher capital gains for Stanbic IBTC Holdings Plc shareholders, according to research. According to The Punch, in the period from June 2022 to June 2023, holders of holding company stock saw a 124 percent increase in wealth as a result of capital gains. The […]

Ex-Stanbic IBTC CEO David-Borha sells shares
Banking

Ex-Stanbic IBTC CEO David-Borha sells shares

The previous CEO of Stanbic IBTC Holdings, Sola David-Borha, sold 615,812 shares of the company. The Punch reported that David-Borha carried out the transaction on Thursday on the platform of the Nigerian Exchange Limited, according to a notice on the director’s dealings. The shares sold for an average price of N63.21 per unit, totaling N38.925m for […]

Inflation causes decline in private sector productivity, employment - PMI
Banking

Stanbic’s H1 2023 profit grows by 121%

Stanbic IBTC Holdings Plc released its half-year 2023 financial report, which showed a 121.46 percent increase in Profit After Tax to N67.919bn from N30,669bn for the same period in 2022. The Punch reported that the financial report was filed with the Nigerian Exchange Limited following a delay caused by the lender seeking approval from its primary […]

Inflation causes decline in private sector productivity, employment - PMI
Banking

Stanbic IBTC delays HY results, requests CBN approval

The release of Stanbic IBTC Holdings Plc’s half-year financial results has been postponed, as the company waits for the Central Bank of Nigeria’s approval. This information was gathered by Nairametrics and included in the company’s declaration to the Nigerian Exchange Limited. The publishing of the audited interim financial statements for the six months ended June […]

Inflation causes decline in private sector productivity, employment - PMI
Banking

Stanbic IBTC Holdings names new Board of Directors

Stanbic IBTC Holdings Plc has announced the appointment of new board members to its holding company and its subsidiaries. This was revealed in an official statement to Nigeria Exchange Limited, where the CEO of Stanbic IBTC Holdings, Dr. Demola Sogunle, commented on the new appointments: “These appointments mark an important milestone in Stanbic IBTC’s flight plan […]

Inflation causes decline in private sector productivity, employment - PMI
Business

Inflationary pressures hurting business growth – Stanbic IBTC’s PMI

The Stanbic IBTC’s Purchasing Power Index, PMI, data published yesterday, has revealed that the removal of Nigeria’s fuel subsidy may have reduced business confidence in June 2023 as inflationary pressures rose. According to the study, although they had slowed down, output growth and new order growth both continued to be significant. “Business optimism dropped to almost record-low […]

Stanbic-IBTC
Business

Stanbic IBTC Pension tasks workers to plan for retirement

The Executive Director of Stanbic IBTC Pension Manager, Nike Bajomo, has encouraged employees and customers to gain the necessary knowledge to lead a comfortable life after retirement. According to The Punch, Bajomo stated this during a one-day seminar/training session organized by the company for its retiring workers and clients. She further emphasized the significance of […]

FG to restart cash transfers to poor Nigerians
Business

How naira scarcity could impact private businesses – Report

Bisola David Stanbic IBTC Bank’s February Purchasing Managers’ Index has revealed that the private sector may have suffered midway through the first quarter of the year as a result of the nationwide cash shortage in February.   According to The Punch, the headline PMI fell below the no-change threshold of 50.0 in February, registering 44.7 compared […]