Nigeria: Standard Bank Plans Further Investment in the Country

18 October 2011

Lagos — Standard Bank Group, the parent company to Stanbic IBTC Bank Plc has expressed willingness to grow its investments in Nigeria. The bank's chairman Mr. Fred Phaswana told newsmen after rising from the Bank's week-long Group Board Meeting held in Lagos that Standard Bank is in Nigeria to stay and grow with Nigeria's economy.

Standard Bank currently has 51.7 percent equity in Stanbic IBTC Bank. Though the bank didn't specify an amount it would be investing going forward but Mr. Phaswana said this is because there was no limit to the Bank's investment budget in Nigeria.

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