Stanbic IBTC Holdings PLC has announced the appointment of Mr. Chukwuma Nwokocha as its substantive Group Chief Executive, effective Thursday, October 2, 2025, following regulatory approval.
The appointment comes after Dr. Adekunle Adedeji served as Acting Chief Executive, during which the Board undertook a thorough and formal selection process to identify a permanent leader for the Group. Dr. Adedeji will continue to serve as Executive Director/Chief Finance and Value Management Officer, supporting the Group’s ongoing financial and strategic initiatives.
Commenting on the appointment, the company’s Chairman, Mrs. Sola David-Borha, lauded Nwokocha’s extensive experience in governance, financial oversight, and strategic transformation. She also commended Dr. Adedeji’s leadership, noting that under his stewardship, the Group recorded its best financial performance since inception. The Chairman highlighted that the successful completion of a rights issue ensured that Stanbic IBTC’s banking subsidiary met the Central Bank of Nigeria’s recapitalisation requirements well ahead of the March 31, 2026 deadline.
“This appointment marks a key milestone in the Group’s journey of growth and value creation. Mr. Nwokocha brings a wealth of experience and a proven track record that will drive Stanbic IBTC’s strategic agenda forward,” Mrs. David-Borha said.
As of June 30, 2025, Stanbic IBTC reported total assets of N8.12 trillion, up from N6.91 trillion at December 31, 2024. Liabilities increased to N7.17 trillion from N6.24 trillion, while equity attributable to ordinary shareholders rose to N941.73 billion from N661.89 billion, supported by profits and the recent rights issue.
The Group’s H1 2025 results also reflected robust growth, with gross earnings climbing 35.2% year-on-year to N516.63 billion. Profit before tax surged 65.8% to N243.74 billion, while profit after tax rose 49.1% to N173.43 billion. Basic earnings per share increased to 1,078 kobo from 884 kobo.
Financial analysts have described Nwokocha’s appointment as a “strategically important decision” for the Group, citing his experience in leading large financial institutions through periods of transformation, regulatory compliance, and value creation. Industry observers note that the banking sector in Nigeria is becoming increasingly competitive, with emphasis on digital innovation, capital efficiency, and sustainable finance practices, and that Nwokocha’s leadership will be critical in navigating these challenges.
Market watchers also highlighted that Stanbic IBTC’s strong capital base and growth trajectory position the Group well among its peers. With total assets surpassing N8 trillion and equity close to N1 trillion, the institution ranks among Nigeria’s leading financial holdings, demonstrating resilience even amid economic headwinds.
“Mr. Nwokocha’s appointment comes at a pivotal moment. His experience in driving operational efficiency, governance, and strategic transformation will strengthen Stanbic IBTC’s position as a leading financial institution,” noted a Lagos-based banking analyst.
The Board emphasized that Nwokocha would continue the strategic initiatives undertaken under Adedeji’s leadership, including digital transformation, risk management, and expansion of retail and corporate banking services across Nigeria.
“This seamless transition reflects Stanbic IBTC’s commitment to sustainable growth, operational excellence, and long-term shareholder value,” the Board said in a statement.
With this appointment, Nwokocha joins a lineage of accomplished leaders who have steered Stanbic IBTC through various phases of growth, innovation, and market expansion. Investors and stakeholders are optimistic that his leadership will sustain the Group’s upward trajectory and consolidate its position in Nigeria’s financial sector.
📌 Editor’s Note: For content partnerships and collaborations, reach out via editor@naija247news.com
Naija247news Media Group LLC is committed to ethical, independent journalism that serves the public interest. Our editorial process prioritizes accuracy, fairness, and transparency in reporting. All content is fact-checked and held to the highest standards of integrity. Learn more in our full editorial policy here.
© 2025 Naija247news Media Group LLC. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten, or redistributed in whole or in part without prior express written permission from Naija247news Media Group LLC.
Reporting by Naija247news in Lagos, Nigeria.
