The issuance of Stanbic IBTC Bank Limited series 1 commercial paper (CP), worth up to 50 billion naira, is now open, with the closing and financing dates set for 17 and 19 March respectively.

CP's issuance is part of its 100 billion naira multi-currency commercial paper program.

The offering proceeds will be used to support the bank's short-term financing needs, as part of its asset and liability management strategy for its banking operations.

The bank maintains its AAA rating by GCR, the highest possible corporate rating, reflecting its strong competitive position, earnings, and cash flow that supported a solid financial profile.

The bank is also rated AAA by Fitch. This rating is a testament to the experience and dedication of Stanbic IBTC Bank's management team, as well as its special relationship with the Standard Bank Group

Stanbic IBTC Bank offers its customers a broad range of commercial banking products through its 180 branches across all states in Nigeria, and through a range of self-service channels powered by sophisticated technology to offer convenient banking services to customers.

The bank is also a key player in financial inclusion and is ready to bring banking services to the door of its customers from various personal and professional categories who want tailored banking services.