Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has successfully signed a 3-year, CNY800 million term loan agreement with China Development Bank (CDB).
This landmark facility, executed under the strategic collaboration framework between Standard Bank Group (SBG) and CDB, marks a significant milestone in deepening financial cooperation between Africa and China.
The facility underscores Stanbic IBTC Bank’s direct access to Chinese Renminbi (CNY) liquidity from the Chinese market, enabling the bank to provide enhanced financing solutions to Nigerian corporates and institutions engaged in Africa-China trade and investment flows.
