Stanbic IBTC Bank PLC, a subsidiary
of Stanbic IBTC Holdings PLC, has emerged as the financial institution that
attracted the highest amount of capital investment in the third quarter of
2019. This was contained in the Nigerian Capital Importation report of the
Nigerian Bureau of Statistics. According to the report, Stanbic IBTC Bank PLC
attracted $1,630.91 million in Q3 2019, which equates to 30.38% of the total
capital inflow during the same period.
The Nigerian Capital Importation Q2
report earlier released by the Nigerian Bureau of Statistics in September,
2019, also revealed that Stanbic IBTC PLC attracted 30.34% of the total capital
inflow into the country.
Dr. Demola Sogunle, Chief Executive,
Stanbic IBTC Bank PLC, stated that the report identifying the bank as
facilitating the highest amount of capital inflows reflects the immense
contribution of the financial institution to the Nigerian economy. He added
that the bank would continue to take the lead in the facilitation of business
transactions that would inject foreign capital into the country.
The report reflected that the total
value of capital imported into the country as at Q3 2019 was $5,367.56 million.
A breakdown showed that the largest amount of capital importation by type was
through portfolio investments which amounted to $2,999.5 million (55.88%);
while Other Investment accounted for $2,167.98 million of total …read more