Stanbic IBTC opens Africa-China Banking Centre

Stanbic IBTC

Stanbic IBTC opens Africa-China Banking Centre Stanbic IBTC Bank Plc, a member of Stanbic IBTC Holdings Plc, yesterday commissioned an Africa-China Banking Centre (ACBC) in Lagos.

The launch of the Africa – China Banking Centre was performed by the Industrial and Commercial Bank of China (ICBC) Africa CEO, Lubin Wang; Commercial Consul, Chinese Embassy in Lagos, Liu Jun Sheng; and top management executives of Stanbic IBTC. The opening of the Centre is another significant step towards improving ease of doing business between Nigeria and China, coming after the signing of the bilateral currency swap agreement between the two countries earlier in the year.

According to Chief Executive of Stanbic IBTC Bank Plc, Demola Sogunle, the launch of the Centre represents a critical opportunity to leverage the full potential of Africa and China’s rapidly evolving trade partnership. He further explained that, “as an African bank with global reach, Stanbic IBTC is uniquely placed to unlock African opportunities by accessing Chinese capabilities”.

“Nigeria is a market with great potential for now and the future; ICBC has built a bridge between the two markets to create possibilities. This is the beginning for us to produce more specialized financial products and services for our Chinese clients and it is our aim to be the go-to Bank for Chinese businesses in Nigeria and Nigerian businesses trading with China,” said Sogunle.