The former Chief Executive of Stanbic IBTC Holdings, Sola David-Borha has done what savvy investors do when they invest in shares. On an auspicious day, they sell.

So she sold 615,812 units of the lender’s shares.

When veteran financial guru, took stock and reappraised circumstances, Atedo Peterside smartly consented to merge his original Investment Banking and Trust Company (IBTC) with Stanbic Bank ( former Grindlays Merchant Bank, precursor to Stanbic Bank in Africa) because the bank had been in existence since 1967 from Australia and New Zealand (almost 56 years in 2023) and it’s Africa Division was acquired by Standard Bank which was formed in 1862 as a South African subsidiary of the British overseas bank, Standard Bank.

It later became Stanbic Bank of South Africa in 1989. The colossal financial heavyweight thus has a banking culture and tradition of over 160 years behind it as of this time.


Atedo Peterside put all that governance structure the institution has garnered, and merged to become StanbicIBTC in Nigeria. So as age takes its toll, his investment is in a good culture to make it’s growth curve upward and assuredly, while he pursues other leisures.


David-Borha has understudied it well. At the appropriate time, the notice came.

On the director’s dealings, it was revealed that David-Borha carried out the transaction on Thursday on the platform of the Nigerian Exchange Limited.


The shares sold at an average rate of N63.21 per unit, bringing the transaction to N38.925m.

David-Borha is a non-executive director, Stanbic IBTC Holdings Plc.


According to the half year report of the bank, Sola David Borha’s shareholding was 615,812 shares which was held directly, the same figure as the number of shares she sold.



Her shareholding used to represent 0.01 percent of StanbicIBTC Holdings.



The Group’s gross earnings saw a 58.18% profit before tax, an increase of 107.58% and a Profit after tax rise by 121.46% for the period ended June 30, 2023.



An approval of an interim dividend of 150 kobo per share ( June 30, 2022:150 kobo per share) for the period under review has been recommended by the directors.



Net interest income which rose by 44.35% to N72.68bn, up from N50.35bn in 2022, as well as a 56.64% increase in it’s non-interest revenue which rose to N98.62bn, up from N62.96bn.