The share price of Stanbic IBTC has been assigned a 'buy' recommendation. Lagos-based financial advisory and research firm, Renaissance Capital, which gave the recommendation in its note on Stanbic IBTC, stated that the change in its view on the stock was as a result of the post-splitting up of the business as well as its valuing the Bank and Wealth divisions separately.
It pointed out that at the significant premium that Stanbic trades compared to Nigerian banks lies in the valuation of its Wealth business.
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