Hottestgistnaija.com
THE Nigerian unit of Standard Bank Group, Stanbic-IBTC Plc has carried out a right-sizing exercise of its employee structure, leading to the laying off of an estimated 102 of its staffers on Tuesday.
The exercise affected 20 per cent permanent staffers and 80 per cent non-contract.
It was gathered that many fresh graduates who were recently recruited by the bank were affected in the exercise.
Its Group Managing Director and Chief Executive Officer, Mrs Sola David Borha said the exercise stemmed from the bank’s operational alignment. She described it as part of an objective aimed at safe-guarding the future of the organisation, and to meet the needs of a rapidly evolving Nigerian baking industry.
In a press statement, entitled: “Stanbic IBTC strengthens operating model,” David-Borha said: “The overarching objective is to safe-guard the future of the overall organization, ensuring that it is proactive enough to be increasingly responsive to the needs of a rapidly evolving marketplace in a very competitive industry.”
Stanbic IBTC Holdings PLC, the Nigerian subsidiary of Standard Bank, is gearing up for market leadership even as it acknowledges the increasingly dynamic nature of the banking and financial services industry.
David-Borha said further: “We want to continuously position ourselves as the most accessible end to end financial solutions provider in the country and are working very hard to reinforce our customers’ perception of Stanbic IBTC as being most accessible.”
She said further: “Aligned to this quest, is the on-ongoing strengthening of our operating model. Many aspects of our operations are being realigned and strengthened to enable us provide services even more seamlessly.
A key aspect of this realignment is the positioning of Stanbic IBTC Bank as a bank that is there for every category of customer; from the business-man seeking a loan to finance a major transaction to the young couple next door who need to pay their child’s school’s fees.”
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, is a full service financial services group.
It is rooted in Africa with strategic representation in 18 countries on the African continent, including South Africa. Standard Bank has been in operation for 150 years and is focused on building first-class, on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, glob
