Stanbic IBTC reports N22.08bn PAT growth in Q3

Stanbic IBTC Holdings has reported a growth of about N22.08 billion growth in its Profit After Tax (PAT) year-on-year in the third quarter of the current financial year, amongst other positive indices in its financials. Specifically, the bank in its 2018 third quarter financial report made public on Monday, indicated that its PAT rose to […]

Stanbic IBTC, Diamond pay regulator-imposed fines

Stanbic IBTC Group has paid the N1.886 billion regulatory fine imposed by the Central Bank of Nigeria (CBN) on its banking subsidiary – Stanbic IBTC Bank. The fine was imposed on the lender over foreign exchange remittance infractions associated with certain capital importation certificates issued to MTN Nigeria Communications Limited. In a statement signed by […]

Dirty details of 4 banks’ violations against CBN rules emerge

Details of how four banks violated the rules of the Central Bank of Nigeria (CBN) thereby attracting penalties from the apex bank have emerged. The four affected banks were Standard Chartered Bank (SCB), Citi Bank, Diamond Bank Plc, and Stanbic IBTC. Last week, the four banks’ infractions attracted sanctions from the apex bank of N5.87 […]

CBN penalises four banks N5.87bn over regulatory infractions

The Central Bank of Nigeria (CBN) today disclosed that it has imposed a fine of N5.87 billion on four banks under its regulatory purview. The apex bank also directed the affected lenders, namely Standard Chartered Bank, Stanbic-IBTC, Citibank and Diamond Bank to refund the sum of $8,134,312,397.63 for what it described as ‘flagrant violation of extant […]