32 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview

Overview

Making an impact for our

OverviewOur vision and valuesCorporate profileOur networkRecognition

Business reviewChairman’s statementChief executive’s statement Economic reviewFinancial review Executive committee Personal and Business Banking + Case study – Workplace banking + Case study – Prudent Energy & Services Ltd+ Case study – Iron Products Corporate and Investment Banking + Case study – Seplat Petroleum Development Company Ltd + Case study – Telecommunications TransactionsWealth Abridged sustainability report Enterprise risk review Annual report and financial statements Board of directorsDirectors’ reportStatement of directors’ responsibilityCorporate governance report Report of the audit committeeIndependent auditor’s reportStatement of financial positionStatement of profit or lossStatement of cash flowsNotes to the annual financial statementsAnnexure AAnnexure B

Other informationManagement teamBranch networkContact information

468

10

162024306065666870757879838892

134136141142156157158160166167249250

254258263

customers

54 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview

Upholding the highest levels of integrity

Our entire business model is based on trust and integrity as perceived by our stakeholders, especially our clients.

Our vision and values

The values that underpin our strategy

To be the leading end-to-end financial solutions provider in Nigeria through innovative and customer-focused people.

Constantly raising the bar

We have confidence in our ability to achieve ambitious goals and we celebrate success, but we must never allow ourselves to become complacent or arrogant.

Serving our customers

We do everything in our power to ensure that we provide our clients with the products, services and solutions to suit their needs, provided that everything we do for them is based on sound business principles.

Working in teams

We, and all aspects of our work, are interdependent. We appreciate that, as teams, we can achieve much greater things than as individuals. We value teams within and across business units, divisions and countries.

Respecting each other

We have the highest regard for the dignity of all people. We respect each other and what Stanbic IBTC stands for. We recognise that there are corresponding obligations associated with our individual rights.

Being proactive

We strive to stay ahead by anticipating rather than reacting, but our actions are always carefully considered.

Growing our people

We encourage and help our people to develop to their full potential and measure our leaders on how well they grow and challenge the people they lead.

Delivering to our shareholders

We understand that we earn the right to exist by providing appropriate long-term returns to our shareholders. We try extremely hard to meet our various targets and deliver on our commitments.

76 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview

Stanbic IBTC Holding PLC traces its origin to Investment Banking and Trust Company Limited (‘IBTC’), a private limited liability company on 2 February 1989. IBTC was granted a merchant banking license in February 1989 and commenced operations on 1 March 1989. IBTC’s merchant banking license was converted to a universal banking license in January 2002, pursuant to the universal banking guidelines of the CBN. In 2005, IBTC became a public company and its shares were listed on The Nigerian Stock Exchange.

In December 2005, IBTC merged with Chartered Bank PLC and Regent Bank PLC and changed its name to IBTC Chartered Bank PLC (‘IBTC Chartered’) on 25 January 2006. On 24 September 2007, IBTC Chartered merged with Stanbic Bank Nigeria Limited (‘Stanbic Bank’), a wholly owned subsidiary of Stanbic Africa Holdings Limited (‘SAHL’), which in turn is a subsidiary of Standard Bank Group Limited of South Africa. As part of the transaction that resulted in the combination of IBTC Chartered and Stanbic Bank, SAHL acquired a majority shareholding (53.2%) in the enlarged bank, which was named Stanbic IBTC Bank PLC.

On 8 November 2012, Stanbic IBTC officially adopted a holding company structure in compliance with the revised regulatory framework by the Central Bank of Nigeria which requires banks to divest from non-core banking businesses or adopt a HoldCo structure.

Under the new structure, the operating subsidiaries of Stanbic IBTC Holdings PLC are Stanbic IBTC Bank, Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset Management Limited, Stanbic IBTC Trustees Limited, Stanbic IBTC Capital Limited, Stanbic IBTC Stockbrokers Limited, and Stanbic IBTC Ventures Limited. Stanbic IBTC Nominees Nigeria Limited and Stanbic IBTC Bureau de Change Limited are the only subsidiaries of Stanbic IBTC Bank.

Stanbic IBTC Insurance Brokers was incorporated on 29 December 2014 as a subsidiary of Stanbic IBTC Holdings PLC. The new Company is however yet to commence business as the Insurance brokerage license is still being processed.

Corporate profile

New structure

Gross revenue

Total deposits

Total income

Gross loans and advances

Corporate andInvestment

Banking60%

Personal and Business Banking 40%

Corporate andInvestment

Banking57%

Personal and Business Banking 43%

Corporate andInvestment

Banking53%

Wealth 17%

Personal and Business Banking 30%

Corporate andInvestment

Banking49%

Wealth 22%

Personal and Business Banking 29%

Total income

N51.4 billionCorporate and investment banking services to government, parastatals, larger corporates, financial institutions and international counterparties in Nigeria.

Total income

N30.7 billionBanking and other financial services to individual customers and small to medium sized enterprises.

Total income

N22.5 billionInvestment management in form of asset management, pension fund administration and trusteeship.

Corporate and Investment Banking (CIB)

Personal and Business Banking (PBB)

Wealth

Stanbic IBTC Holdings is a full service financial institution which offers a wide range of products to a variety of segments. Stanbic IBTC provides end-to-end financial solutions which include corporate and investment banking, personal and business banking, stockbroking and wealth management.

Standard Bank Group, to which Stanbic IBTC belongs, is rooted in Africa with strategic representation in 20 key sub-Saharan countries and other emerging markets. Standard Bank has been in operation for over 150 years and prides

itself on being a global bank with African roots. The largest African bank by assets and earnings, it operates in 20 countries on the African continent, including South Africa, as well as in other selected emerging markets.

We uphold high standards of corporate governance and are committed to advancing the principles and practice of sustainable development. Our success and growth over the long term is built on making a difference in the communities in which we operate.

99.9% 99.9% 99.9% 70.6% 99.9%

Stanbic IBTC Holdings PLC

Stanbic IBTCBank PLC

Stanbic IBTCAsset Management Limited

Stanbic IBTCBureau de Change Limited

Stanbic Nominees Nigeria Limited

Stanbic IBTCCapital Limited

Stanbic IBTCStockbrokers Limited

Stanbic IBTCPension Managers Limited

Stanbic IBTCTrustees Limited

Stanbic IBTCInvestments Limited

Stanbic IBTCVenturesLimited

99.9%99.9% 99.9%99.9%99.9%

98 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview

Our network

1 Angola

2 Botswana

3 Cote d’ivoire

4 DRC

5 Ethiopia

6 Ghana

7 Kenya

8 Lesotho

9 Malawi

10 Mauritius

11 Mozambique

12 Namibia

13 Nigeria

14 South Africa

15 South Sudan

16 Swaziland

17 Tanzania

18 Uganda

19 Zambia

20 Zimbabwe

10

1120

19

9

174

18

7

5

151363

1

2

12

16

8

14

Market capitalisation

R232 billion (USD20 billion)

Total assets

R1,907 billion (USD165 billion)

Operating in

20 African countriesand 13 countries outside Africa

Branches ATMs

13 FCT Abuja region 26 FCT Abuja region

28 Lagos Island region 51 Lagos Island region

33 Lagos Mainland region 116 Lagos Mainland region

8 North Central region 31 North Central region

9 North East region 12 North East region

22 North West region 35 North West region

22 South East region 35 South East region

12 South South region 29 South South region

33 South West region 80 South West region

49,259 employees (2,181 in Nigeria)

1,233 branches (180 in Nigeria)

8,623 ATMs (415 in Nigeria)

Group overview

Nigeria overview

1110 Stanbic IBTC Annual group financial statements for the year ended 31 December 2014 Business review Annual report and financial statements Other informationOverview

Recognition

Awards and recognition

1 Best Investment Bank in Nigeria Euromoney award of excellence (awarded to Stanbic IBTC Capital)

2 Best SME Bank in Nigeria International Finance Magazine award

3 2014 Best Bank in Nigeria Award Euromoney Real Estate Survey

4 The most active Dealing Member Firm (Stockbroking) The Nigerian Stock Exchange CEO Award 2014

5 Pension Administrator of the year 8th LEAD Africa 2014 – (awarded to Stanbic IBTC Pension Managers)

6 Best IPO (Seplat) in Africa EMEA Finance award 2014

7 Best follow-on funding in Africa EMEA Finance award 2014

8 Best supranational borrower EMEA Finance award 2014

9 Best syndicated loan of the year EMEA Finance award 2014

10 Best sub-custodian bank in Nigeria 2014 Global Finance magazine awards

11 Best sub-custodian in Nigeria 2014 Global Investor awards