WorldStage Newsonline– Stanbic IBTC Nominees, a fully owned subsidiary of Stanbic IBTC Bank Plc has raised its equity holding in Access Bank Nigeria to 5,316,785,890 units of the issued share capital, representing 18.39 percent from 4,622,161,946 units or 16.00% in 2016.
Stanbic IBTC Nominees which has been providing custody services since 1994 is currently the largest single investor in Access Bank and has been consistent in its interest in the bank in recent years, coming from 4,283,583,626 units or 14.79% holdings in 2015.
As at 31 December 2016, Blakeney GP, one of the oldest and largest institutional investors in Africa and the Middle East was the next to Stanbic IBTC Nominees in ownership of Access Bank at 1,969,087,968 units or 6.80%.
But recent filing with the Nigerian Stock Exchange (NSE) by the Access Bank on the details of the shareholder holding 5% and above stake did not include Blakeney GP.
Stanbic Nominees was said to be holding the shares in the bank as custodian for various investors and does not exercise any right over the underlying shares.
All the rights were said to reside with the various investors on behalf of whom Stanbic Nominees carries out the custodian services.
Stanbic IBTC Nominees is one of the six appointed custodians of Money Market and Fixed Income Instruments by the Central Bank of Nigeria (CBN). It is also one of the four appointed Securities Lending Agents appointed by the Securities and Exchange Commission (SEC).
Standard Bank of South Africa, its parent company, is the largest banking group and sub-custodian in the African continent, with assets under its custody over $300bn.
Access Bank stock was last traded on the Nigerian Stock Exchange at N11.8, down from the 52 Week High of N13.60.
