STANBIC IBTC secures a CNY800M loan agreement with China Development Bank

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has announced the success of the signing of the CNY 800 million futures loan agreement with the China Development Bank (CDB).

This facility, which was executed under the strategic collaboration framework between the Standard Bank Group (SBO) and CDB, marked an important milestone in deepening financial cooperation between Africa and China.

This facility underlines the direct liquidity of the Stanbic IBTC Bank to the Liquidity of the China Renminbi (CNY) from the Chinese market, allows banks to provide financing solutions to Nigerian companies and institutions involved in the African-Chinese trade and investment schools.

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Commenting on the agreement, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, said:

“We are delighted to announce this Landmark Agreement with China Development Bank, which reflects the strength of our strategic partnership and our collective commitment to Africa’s economic development. This facility provides us with direct access. Serve Our Clients Involved in Africa-China Trade and Investment. It is a significant step in advising our africa-china strategy, which is focused on unlocking growth opportunities, promoting cross-border trade, and driving sustainable development for the Nigerian business.

Collaboration between Stanbic IBTC Bank and China Development Bank is expected to play an important role in supporting Nigerian business, facilitating trade transactions, and encouraging foreign direct investment. This is also a significant step in the broader Stanbic IBTC Africa-China strategy, which seeks to position the bank as a partner of choice for businesses that want to participate in the developing economic corridors between Africa and China.