This article is about the Stanbic IBTC Bank salary structure in Nigeria for the year so that our readers can learn how much this country’s top financial institution pays its employees, particularly entry-level employees, as well as other members of staff at various levels and positions, per month.
Stanbic IBTC Bank Salary Structure In Nigeria
Stanbic IBTC Bank PLC is a leading commercial bank in Nigeria and it is a great place for many of the country’s university graduates to work at. The bank also pays interesting monthly salaries as we shall see shortly and their mode of operation is quite unique when you compare them to other top financial institutions in the country.
It’s unusual to hear that this bank has problems with its operations or that its customer service is subpar. They are a bank that was created and continues to operate with excellence as its second name.
If you want to work at Stanbic IBTC PLC and want to learn more about their wage scale range, we will provide you with such information shortly, but first, let us have a look at the bank’s history.
Stanbic IBTC Bank (Nigeria) PLC Brief Company Overview
Stanbic IBTC Bank is a Nigerian commercial bank owned by Stanbic IBTC Holdings, a subsidiary of the Standard Bank Group, a South African financial services conglomerate. Investment Banking and Trust Company Plc (IBTC) was founded on February 2, 1989, with Atedo Peterside as its Chief Executive Officer.
When the Central Bank of Nigeria (CBN) announced its commercial bank re-capitalization program in 2005, it meant that all commercial banks in the nation had to have a minimum capital base of N25 billion.
Following the Central Bank of Nigeria’s (CBN) order, Investment Banking and Trust Company (IBTC) merged with Chartered Bank PLC and Regent Bank PLC on December 19, 2005, to become IBTC Chartered Bank PLC, which was listed on the Nigerian Stock Exchange with a total asset base of 125 billion (NSE).
Stanbic Bank Nigeria Limited, on the other hand, was founded in 1991 after Standard Bank Investment Corporation (STANBIC Bank) purchased ANZ Grindlays Bank’s African business. Stanbic Bank Nigeria Limited was subsequently renamed and was a fully owned subsidiary of Stanbic Africa Holdings Limited (SAHL).
On September 24, 2007, IBTC Chartered Bank PLC merged with Stanbic Bank Nigeria, and Stanbic Africa Holdings Limited, on behalf of Standard Bank, made a bid to purchase more IBTC shares in order to gain a controlling stake in the amalgamated company.
As a result, SAHL now owns 50.75 percent of the company, up from 33.33 percent at the time of the merger. The company’s name was changed to Stanbic IBTC Holdings PLC, and trading on the Nigerian Stock Exchange resumed (NSE).
In addition to current and savings accounts, Stanbic IBTC Bank PLC also offers personal loans and vehicle and asset financing through MasterCard debit cards or Visa credit cards, home loans through the Internet Banking service as well as SME loans through the award-winning *909# Mobile Money service.
Retail and commercial banking solutions are carefully developed to meet the needs of both individuals and businesses. Self-service channels driven by advanced technology provide convenient banking for clients.
Customers can also obtain custodial services through Stanbic Nominees Nigeria Limited, their custody arm and non-pension asset custodian, which acts as a nominee for clients’ transactions in securities and other investments.
Stanbic IBTC Bank PLC is a significant participant in financial inclusion, and the firm is set to bring banking to its customers’ doorsteps, meeting the banking demands of all types of people and companies.
Stanbic IBTC Bank Salary Structure in Nigeria: How Much They Pay Their Workers
We will concentrate on the compensation structure of graduate trainees, entry-level workers, and other members of staff, as well as take a cursory look at the present pay range of Stanbic IBTC Bank PLC employees in Nigeria.
Stanbic IBTC Bank Graduate Trainees Salary Scale in Nigeria Today
Graduate trainees at Stanbic IBTC Bank Nigeria are paid between 30,000 and 55,000 Naira per month throughout their training term, after which successful candidates are incorporated into the bank at entry-level and their salaries are evaluated and adjusted appropriately.
Contract Staff Salary Structure at Stanbic IBTC Bank in Nigeria
Contract employees at Stanbic IBTC Bank are given monthly wages ranging from 60,000 to 70,000, for an annual total of 720,000 to 840,000. They may be staffed after a period of years, but only if the bank meets certain criteria.
Stanbic IBTC Bank Tellers Salary Structure in Nigeria
Bank Tellers at Stanbic IBTC earn an average monthly income of 50,000 to 70,000, which translates to yearly take-home pay of 600,000 to 840,000.
Customer Service Officers Salary Scale at Stanbic IBTC Nigeria PLC
In Nigeria, Customer Service Officers at Stanbic IBTC Bank earn between N55,000 and 70,000 per month. This amounts to N660,000 to N840,000 every year.
Much Much Entry Level Staff Are Paid Per Month at Stanic ITC Bank in Nigeria
In Nigeria, the basic compensation structure for entry-level employees at Stanbic IBTC Bank is around 107,000 Naira per month on average. Employees at Stanbic IBTC Bank in the nation earn between 95,000 and 120,000 naira per month as entry-level salary. This amounts to 1.1 million to 1.4 million naira every year.
Digital Marketers Salary at Stanbic IBTC Bank in Nigeria
Monthly pay for digital marketers at the bank varies from N76,000 to 80,000, for total annual compensation of N912,009 to 960,000.
Salary Structure of Stanbic IBTC Bank Senior Banking Executives in Nigeria
Without allowances or incentives, senior banking executives at the bank are paid at least N350,000 a month.
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