Stanbic IBTC in the Process of Establishing a wholly-owned Life Insurance Subsidiary

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Stanbic IBTC Pressure On Trading Income Amid Low Yield Environment Moderates Bottom-Line-Brand Spur Nigeria
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Stanbic IBTC Holdings PLC wishes to announce that it has commenced the process of seeking regulatory approvals to establish a wholly-owned Life Insurance subsidiary to be known and referred to as Stanbic IBTC Insurance Limited.

The commencement of operations for this proposed subsidiary is subject to receiving all required regulatory approvals, including licensing by the National Insurance Commission.

Accordingly, Stanbic IBTC will update the market upon completion of the regulatory approval process as well as licensing of the new subsidiary.