At Stanbic IBTC, we understand that the success of our organisation is inextricably linked to the prosperity and wellbeing of the societies and environments in which we operate. We are thus deliberate in ensuring that our core business activities and operations support the creation of shared values for our society and the environment.
Nigeria is our home, we drive her growth. At Stanbic IBTC we seek to support sustainable development in Nigeria, by doing the right business, the right way.
Our strategic value drivers
At Stanbic IBTC, we rely on six critical measures of success to assess our performance against our strategic focus areas.
The six value drivers encourage not only financial performance but also: performance concerning our clients and our employees, how we conduct business, and ultimately, the Social,
Environmental, and Economic (SEE) outcomes for the communities and environments in which we operate. The SEE framework serves as the core of sustainability in Stanbic IBTC.
Our approach to sustainability At Stanbic IBTC, we understand that the success of our organisation is inextricably linked to the prosperity and wellbeing of the societies and environments in which we operate. We are thus deliberate in ensuring that our core business activities and operations support the creation of shared values for our society and the environment.
This approach to sustainability has been articulated into one of our six strategic value drivers – Social, Environmental and Economic (SEE) Impact. The value drivers are our critical measures of success and they encourage not only financial outcomes, but also positive SEE outcomes.
Our SEE framework serves as the core of sustainability in Stanbic IBTC.
For us, SEE is about identifying and exploiting opportunities to grow our business by providing financial products and services that help our customers and clients address social, economic, and environmental challenges. SEE also allows us to think differently about the broad impacts of our business decisions, including our indirect impacts (our most significant impacts arising from clients we finance and invest in).
Our sustainability pillars
Our sustainability ambition is to become the leading financial institution driving sustainable finance solutions in Nigeria. To achieve this, we have thus defined four sustainability pillars in line with our SEE framework:
This pillar serves as the anchor for Stanbic IBTC environment footprint management with focus on:
To build environmental resilience, promote a green culture and a sustainable workplace, Stanbic IBTC focuses on three priority areas, including:
Reduction of carbon emission.
Efficient waste management.
Efficient management of water resources.
SEE Impact areas
We have identified seven impact areas where we believe we can best achieve our purpose (to drive Nigeria’s growth), while positively impacting society, the economy, and the environment. The seven SEE impact areas are consistent with the nature of our business and are aligned to the United Nations Sustainable Development Goals (UN SDGS) and the African Union Agenda 2063.
At Stanbic IBTC, we seek to drive positive social, environmental, and economic impacts in the communities where we operate, while minimising our negative impacts on the society and the environment. As a financial institution, we believe we can drive significant positive impacts though our business activities.
Some of our sustainable business case studies include;
At Stanbic IBTC, we seek to facilitate quality education and youth development. In 2021, the Operations Shared Services team embarked on a CSI project aimed at empowering students at Tech Creek Digital Institute, a skill acquisition centre in Rivers State. The students (inclusive of seven physically challenged students) were trained on digital courses ranging from cybersecurity, web development, graphics design, photography, animation, among others.
The financial planning session is an initiative of Stanbic IBTC, designed to train individuals, entrepreneurs, and business managers in personal and corporate finance with a view to enhancing their knowledge in the areas of wealth creation, improved business management and financial management.
In 2021, we partnered with the Lagos State Employment Trust Fund (LSETF) to train Small and Medium-sized Enterprises in entrepreneurship, through our financial education platform – The Stanbic IBTC Financial Planning Session, tagged “Managing Your Finances”
At Stanbic IBTC, we seek to drive positive impacts in the society, particularly across the health and education sectors. We are thus committed to providing financing solutions for educational and healthcare infrastructure, and services providers.
In light of this, Stanbic IBTC provided N6.70 billion funding for the BAZE University Private Teaching Hospital which was commissioned in October 2021.
In 2021, several small business owners across the nation benefitted from the Stanbic IBTC SME Loans. These customers attest to the accessibility and accelerated disbursement timeline for the SME Loans, which enabled them meet urgent financial needs.
Meet Mr Felix Okechukwu Okoh who runs an electronics business. The client required working capital to support his business, and came upon the Stanbic IBTC SME Loan, the perfect solution for him.
In 2021, KPMG has adjudged Stanbic IBTC Bank as the top-rated bank in the retail and SME segments in its Nigeria Banking Industry Customer Experience Survey
From the KPMG report, Stanbic IBTC’s overall customer experience performance improved significantly as the Bank moved from nineth in the last survey to the top position in 2021, scoring 74.5 percent and 74.7 percent in the retail and SME segments respectively.
Security of transactions, reliability of payments and, ATM experience were some key criteria highlighted in the report.
Trees contribute to the environment by providing oxygen, improving air quality, conserving water and preserving wildlife. In 2021, Stanbic IBTC continued its partnership with the Nigerian Conservation Foundation to fight the problem of deforestation by incorporating tree planting initiatives into its existing CSI focus areas.
Stanbic IBTC Trustees Limited sponsored the planting of 150 Queen Palms seedlings in the premises of Federal Government Girls College, Calabar, Cross River State. A total of ₦0.9 million was spent on the project.
Partnership with Yobe State Government on Save The Children International (SCI) initiative