Stanbic IBTC Holdings, a leading end-to-end financial institution in Nigeria and a member of
the Standard Bank Group, has achieved a significant milestone by being recognised as the
fastest-growing brand in Nigeria. This recognition comes from a comprehensive report by
Brand Finance, a renowned London-based brand valuation consultancy.
The annual analysis, which covered the period from March 2023 to March 2024, highlighted
Stanbic IBTC’s impressive brand value growth. The brand value nearly tripled within one
year, reaching N75 billion with a remarkable 184% surge. This exceptional performance
underscores the company’s strategic focus on enhancing financial services and delivering
outstanding value to customers and stakeholders.
Dr. Demola Sogunle, Chief Executive of Stanbic IBTC, expressed his profound joy and
satisfaction, stating,”This prestigious recognition reflects our team’s relentless hard work,
dedication, and spirit of excellence. Our commitment to innovation, customer satisfaction,
and strategic growth initiatives has distinguished us in Nigeria’s competitive financial
landscape and positioned us as leaders vigorously driving change and innovation.”
He further added,”We are honoured to receive this accolade, acknowledging our status as
the fastest-growing brand in Nigeria. This recognition is a powerful motivator, compelling us
to uphold our commitment to excellence, client experience and setting even higher
standards in financial services. Customer satisfaction and excellent service delivery will
remain at the heart of our operations.
The report employed a rigorous methodology, including the royalty relief approach, which
combines market and income valuation approaches. This analysis highlighted the banking
sector’s dominance in Nigeria’s brand landscape despite challenges such as currency
devaluation and rising inflation. Stanbic IBTC’s recognition as the fastest-growing brand
clearly indicates its strong brand and effective business strategy.
The company’s commitment to sustaining this growth trajectory and enhancing its
contributions to Nigeria’s banking sector and overall economic development offers hope
and promises a brighter future for the Nigerian banking sector.
