This Day (Lagos)

7 January 2013

Nigeria: Stanbic IBTC, Rencap Emerge Top Brokers in 2012

Stanbic IBTC Stockbrokers Limited, a subsidiary of Stanbic IBTC Holdings Plc and RenCap Securities Limited emerged the two foremost stockbroking firms on the Nigerian bourse in 2012.

According to ranking by Nigerian Stock Exchange (NSE), 10 stockbrokers accounted for N870. 043 billion of equities traded in 2012, translating to 66.1 per cent of the total value for year.

Stanbic IBTC Stockbrokers led at 16.96 per cent followed by RenCap Securities Limited with 16.74 per cent.

Specifically, Stanbic Stockbrokers accounted for N223.292 billion in shares, while Rencap Securities traded N220.336 billion.

Vetiva Securities Limited occupied the third position with N105.115 billion shares or 7.98 per cent, while Chapel Hill Denham Securities Limited accounted for N96.437 billion or 7.33 per cent. CSL Stockbrokers Limited traded N62.554 billion or 4.7 per cent, just as ARM Securities Limited accounted for N40.709 billion or 3.1 per cent.

Others among the top 10 broking firms included Meristem Securities Limited, which accounted for N36.047 billion (2.74 per cent); Cordros Capital Limited (N34.626 billion-2.63 per cent); BGL Securities Limited (N27.389 billion-2.1 per cent) and GTBank Securities Limited (N23.532 billion-1.79 per cent).

Speaking on the top ten stockbrokers for last year, the Chairman of Association of Stockbroking Houses of Nigeria (ASHON), Mr. Emeka Madubuike, explained that given the fact that foreign investors dominated the equities market in 2012, stockbroking firms with foreign affiliations were bound to lead the top performance charts.

"Although these broking firms have strong backgrounds, foreign investors would want to patronise them because they have foreign parent companies and this was partly responsible for their dominance," Madubuike said.

Also, speaking on the emergence of his firm as the foremost broking firm, the Chief Executive Officer of Stanbic IBTC Stockbrokers, Mr. Oladele Sotubo, said it confirmed its outstanding work in the Nigerian capital market, part of which involved transactions in the 40 most capitalised stocks quoted on the NSE.

He said the company would continue to work with regulators and operators to establish a world-class capital market in Nigeria by highlighting and implementing strategies that would help investors derive optimal value for their investments.

"The firm looks forward to an enhanced performance in 2013 as the capital market is still in a recovery mode, with a significant number of listed equities still reflecting sound fundamentals," Sotubo said.

Speaking in the same vein, Chief Executive Officer of Stanbic IBTC Holdings Plc, Mrs. Sola David-Borha, stated that the firm would continue to spearhead efforts aimed at actualising Nigeria's developmental aspirations and would leverage Standard Bank Group's in-depth knowledge of emerging markets and understanding of investor behaviour to provide clients with equity offerings customized to meet each client's unique needs.

PERFORMANCE OF TOP 10 STOCKBROKERS BY VALUE OF SHARES

STOCKBROCKING FIRM

VALUE (N)

Percentage

Stanbic IBTC Stockbrokers Ltd

223,292,976,961.92

16.96

Rencap Securities (Nig) Limited

220,336,041,656.46

16.74

Vetiva Securities Limited

105,115,792,733.74

7.98

Chapelhill Denham Securities Limited

96,437,601,955.65

7.33

CSL Stockbrokers

62,554,757,344.15

4.75

ARM Securities Limited

40,709,316,015.85

3.09

MERISTEM Securities Limited

36,047,892,849.80

2.74

Cordros Capital Limited

34,626,697,602.24

2.63

BGL Securities Limited

27,389,144,816.56

2.08

GTB Securities Limited

23,532,938,791.58

1.79

TOTAL

870,043,160,727.95 66.09

- Nigerian Stock Exchange

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