Stanbic IBTC Bank Salary Structure: How much they pay their staff

Do you wish to work with Stanbic bank? If yes, this article will give you an insight to how much they pay their staff.

Stanbic IBTC Holdings, commonly referred to as Stanbic IBTC, is a financial service holding company in Nigeria with subsidiaries in banking, stock brokerage, investment advisory, pension and trustee businesses.

Stanbic IBTC Holdings is a member of the Standard Bank Group, a financial services giant based in South Africa. Standard Bank is Africa’s largest banking group ranked by assets and earnings operations in 20 African countries and 13 countries outside Africa.

History of Stanbic Ibtc Bank

Investment Banking & Trust Company Plc (IBTC) was formed as an investment bank on 2nd of February 1989 with Atedo N.A. Peterside as chief executive officer. In 2005, the Central Bank of Nigeria announced its re-capitalization program for commercial banks. This meant that all commercial banks had to have a NGN 25 billion minimum capital base. This CBN order led to the merger of Investment Banking and Trust Company (IBTC) with Chartered Bank Plc and Regent Bank Plc on 19 December 2005 to form IBTC Chartered Bank Plc with a total asset base NGN 125 billion and listed on the Nigerian Stock Exchange.

Stanbic Bank Nigeria Limited was founded in 1991 when Standard Bank Investment Corporation (Stanbic Bank), acquired the African operations of ANZ Grindlays Bank. Stanbic IBTC Holdings PLC. came to be as a result of the merger between Stanbic Bank Nigeria Limited and IBTC Chartered Bank Plc. in 2007, then adopting a holding company structure in 2012 to comply with the revised regulatory framework advised by the Central Bank of Nigeria requiring banks to either divest from non-core banking financial services or adopt a holdings company structure. The name was later changed to Stanbic Bank Nigeria Limited and was a wholly owned subsidiary of Stanbic Africa Holdings Limited (SAHL).

Here is Stanbic IBTC Bank Salary Structure For Different Workers

Stanbic IBTC bank is the leading investment banking franchise in Nigeria with excellent advisory, financial arranging capabilities and capital markets. The bank is a member of the Standard Bank Group, an authorized financial services and registered credit provider.

Graduate Trainees

Graduate trainees at Stanbic IBTC Bank earn within N30,000 to N55, 000 every month during their training period. After the training period or probation period, their salaries are reviewed and they earn a salary range of between N60, 000 naira, and N90, 000 every month.

Stanbic IBTC Bank Contract Staff’s Salary

The Contract Staff earn a steady sum of N30, 000 monthly which amounts to N360, 000 yearly. They are not entitled to any raise or bonuses from the company because just as their names implies, they are in the bank just on a contract basis.

Stanbic IBTC Bank Banker Tellers Staff’s Salary

Banker Tellers earn an average salary of N40, 000 – N65, 000 naira monthly.

Stanbic IBTC Bank Customer Service Officer’s Salary

Customer Service Officer go home at the end of the month with their N55, 000 – N70, 000 salary for a job well done.

Entry Level staff

On the salary level, Stanbic IBTC bank Nigeria has the opportunity to confirm itself as a standard bank of repute. Entry-level staffs at the bank earn between the sum of N60, 000 and N70, 000. The higher the responsibility, the higher the pay.

Stanbic IBTC Bank Digital Marketer’s Salary

Digital Marketer – The digital marketers who work to promote and market the bank as far as technology is concerned earn between N76, 000 – N80, 000 naira monthly.

Stanbic IBTC Bank Basic Level Staff’s Salary

The basic level staff earns between N95, 000 and N120, 000 monthly according to their sections and unit. Your salary may also increase after a while as long as you remain in the bank.

Stanbic IBTC Bank Senior Banking Executives’ Salary

Senior banking executives are paid N350, 000 and above excluding bonuses and other profit sharing that are accrued to staff.

Conclusion

In summary, Stanbic IBTC Bank salary structure for fresh entry-level graduate and all levels of staff is quite encouraging though the bank is not widely known across the nation and their salary could still be improved upon but note that just as the pay package may be encouraging, the responsibilities attached to this job is quite demanding, therefore, get your mind prepared for it.

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