By NBF News
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Stanbic IBTC to partner Oyo State on economic development

March 19, 2010 03:10AM
Stanbic IBTC Bank, a member of the Standard Bank Group, and the Oyo State government have expressed their readiness to work together to advance the socio-economic development of the state and empower the Nigerian people in general.

At the official opening of a new branch of Stanbic IBTC along Ring Road, the 4th branch of the bank in Ibadan metropolis recently, representatives of the bank and state government spoke glowingly of a partnership that has the potential of fast-tracking rapid development of the state.

Tolu Oladipo, Stanbic IBTC's Head of Personal Banking, stated that the management of the bank is expanding its retail presence in Nigeria, the overall objective being to bring world class banking services and products for which the Standard Bank Group is renowned, closer to more Nigerians.

“As a member of the Standard Bank Group, Stanbic IBTC draws on a pool of experience and expertise spanning 147 years. We operate a network of branches in 17 countries across the African continent and 16 countries outside Africa including Brazil, Russia and China,” Mr. Oladipo said.

Several more branches will be opened before the middle of this year, Mr. Oladipo added, which will significantly enhance access by Nigerians to state-of-the-art banking services. Stanbic IBTC currently has over 70 branches.

Adebayo Alao-Akala, the governor of Oyo State, stated that the branch commissioning was another attestation that Ibadan in particular and Oyo state in general is experiencing a fresh awakening in social and economic development.