Banking on Impact: Stanbic IBTC Leverages CSI for Sustainability and Business Growth
How Stanbic IBTC Bank aligns its CSI strategy with its corporate objectives, demonstrating that the convergence of economic performance and social impact is not just possible but essential in today’s corporate world.
In the contemporary business landscape, corporate social responsibility (CSR) has evolved beyond philanthropy into a strategic necessity. For financial institutions, particularly in emerging markets like Nigeria, the interplay between sustainability, corporate social investment (CSI), and long-term business success has never been more pronounced. Stanbic IBTC Bank, a leading financial services provider in Nigeria, has emerged as a case study in how companies can leverage CSI initiatives to enhance business growth while contributing to societal well-being and environmental sustainability
Unlike traditional CSR, which is often limited to charitable donations, corporate social investment is embedded in a company’s business strategy. It is about creating long-term value for both the company and the communities it serves. For Stanbic IBTC, CSI is not an afterthought but a core component of its operating philosophy.
The bank’s parent company, Standard Bank Group, has long championed sustainability-driven growth. In Nigeria, where socio-economic challenges such as unemployment, financial exclusion, and environmental degradation persist, Stanbic IBTC recognises that addressing these issues is integral to achieving sustainable financial performance.
By adopting a strategic CSI approach, the bank not only strengthens brand loyalty and stakeholder trust but also positions itself as a key partner in national development. This, in turn, enhances its regulatory standing, attracts socially conscious investors, and aligns with global trends favouring businesses that integrate sustainability into their operations.
Stanbic IBTC Bank’s corporate social investment strategy is anchored on four key pillars: education, economic empowerment, health, and environmental sustainability. Each pillar is carefully designed to deliver measurable impact while aligning with the bank’s broader business strategy.
1. Education: Investing in the Future Workforce
Education is a powerful driver of economic development, and Stanbic IBTC has made it a priority within its CSI framework. The bank’s education-focused initiatives span scholarships, capacity-building programmes, and digital literacy campaigns, all aimed at equipping young Nigerians with the skills needed for the modern economy.
A flagship initiative is the Stanbic IBTC Adopt-a-School Programme, which provides infrastructure, learning materials, and teacher training to underfunded schools. By improving the quality of education, the bank contributes to human capital development, which in turn creates a pipeline of skilled professionals who may become future employees, customers, or business partners.
Moreover, the Stanbic IBTC University Scholarship Scheme supports outstanding students from economically disadvantaged backgrounds. Beyond goodwill, this initiative strengthens the bank’s brand among young demographics, fostering early engagement with potential future clients in a market where banking penetration remains relatively low. Stanbic IBTC Holdings Plc has completed a major renovation of Lisabi Grammar School in Abeokuta, Ogun State, as part of its Adopt-A-School initiative. This marks the sixth school to benefit from the company’s commitment to educational development in Nigeria.
The historic Lisabi Grammar School, founded in 1943, has undergone extensive upgrades, including the provision of new computer systems, renovation of science laboratories, construction of a new vocational center which houses ICT, Technical Drawing, Art, Cook and Bake, and Sewing Rooms. These improvements will benefit over 3,400 students and 100 staff members.
Dr. Demola Sogunle, former Chief Executive of Stanbic IBTC, emphasized the long-term nature of the programme. “Our Adopt-A-School programme is a marathon, not a sprint,” he stated. “We deliberately chose Lisabi Grammar School for adoption, committing to ongoing refurbishment, revamping, repair, and maintenance of infrastructure over the coming years.”. The renovation project aims to create a more conducive learning environment for students and improve working conditions for staff. Dr. Demola also highlighted the initiative’s focus on human capital development. “Over the next five to seven years, teachers and staff members will be exposed to the latest training techniques, ensuring they are fully empowered to guide the next generation,” he explained.
Professor Abayomi Arigbabu, Ogun State’s Commissioner for Education, Science and Technology thanked Stanbic IBTC for its contribution to education in the state. He encouraged students and teachers of Lisabi Grammar School to make full use of the new facilities.
Stanbic IBTC’s Adopt-A-School initiative has already made significant impact across Nigeria. Prior to Lisabi Grammar School, Stanbic IBTC had adopted schools in Akwa Ibom, Ekiti, Sokoto, Borno, and Gombe states; demonstrating a commitment to diverse geographic representation in their educational support. Also, Stanbic IBTC Holdings has successfully completed the renovation of six classrooms and the Head Teacher’s office at the Waziri [RA1] Primary School in Niger State as part of its Adopt-A-School initiative. This programme exemplifies the organisation’s commitment to fostering better learning environments for Nigerian children.
This is the seventh school benefiting from the company’s commitment to educational development in Nigeria. The Waziri Primary School project was officially inaugurated recently in a ceremony attended by esteemed dignitaries; among them were Muhammad Baba Ibrahim, the Chairman of the Niger State Universal Basic Education Board (NSUBEB);Hon. AminuLadan, the Local Government Chairman, Haj.HadizaShuru, the Niger State First Lady’s representative, along with other notable government officials and guests. Their presence emphasised the crucial role of community engagement in advancing educational facilities.
The renovation and infrastructure upgrades carried out at the school reflect Stanbic IBTC’s dedication to sustainable educational development. The project involved several key improvements, including the renovation of two classroom blocks; the Installation of 120 new piece of classroom furniture; the construction of a modern computer laboratory; a modern block of 12 toilets; planting of 50 trees to enhance the school environment; and the development of a football area for recreation and physical education.
In addition to these infrastructural advancements, Stanbic IBTC provided essential learning materials to enrich the educational experience for both pupils and teachers. These enhancements will directly benefit 1,000 students and 117 teachers; equipping them with improved resources to achieve their full potential.
Kunle Adedeji, Acting Chief Executive, Stanbic IBTC Holdings, emphasised the organisation’s commitment to long-term educational development. “The Adopt-A-School initiative is part of our broader mission to foster sustainable growth and development in Nigeria. We are dedicated to creating an environment where children can learn and thrive,” he stated. This project marks another significant milestone in the Adopt-A-School initiative, which is already improving learning conditions of those impacted in Ogun, Akwa-Ibom, Ekiti, Sokoto, Borno, and Gombe states. Through these efforts, Stanbic IBTC continues to reinforce its commitment to improving lives and shaping future generations.
In his speech during the event, Aminu Ladan, the Local Government Chairman, expressed how significant Stanbic IBTC’s impact will be on the community. “As a public-school graduate, I take pride in serving as the council chairman.” His journey highlights the importance of education and the opportunities it can offer. “It is essential to recognise and appreciate the individuals and organisations actively working to create a better future for our communities. Their efforts inspire hope and lay the groundwork for the next generation to achieve their dreams,” he stated.By investing in education, Stanbic IBTC reaffirms its belief in the transformative power of knowledge.
In a significant boost to education in Abia State, Stanbic IBTC has unveiled an extensive renovation of Ibeku High School in Umuahia, marking another milestone in its nationwide Adopt-A-School initiative. The transformative project demonstrates the financial institution’s ongoing commitment to revolutionising educational facilities across Nigeria. The comprehensive upgrade has transformed the learning environment for 720 students and 52 teachers; bringing modern educational resources to the community. At the heart of the renovation is a modern computer laboratory equipped with 20 advanced computer systems and 25 workstations; positioning students to develop crucial digital skills for the modern workplace.
The extensive improvements include five renovated classrooms furnished with new furniture; ensuring students enjoy a comfortable and conducive learning environment. A newly constructed multipurpose hall adds versatility to the school’s facilities; thereby providing space for assemblies, school events, and various educational activities. Staff facilities have also received significant attention, with both the guidance counsellor’s office and staffroom undergoing complete makeovers to create professional working spaces for educators. The initiative also demonstrates environmental consciousness with the strategic planting of 100 trees across the school grounds, creating shade and improving the overall campus atmosphere.
Kunle Adedeji, Acting Chief Executive, Stanbic IBTC Holdings, emphasised the organisation’s commitment to long-term educational development.
“The Adopt-A-School initiative remains a significant part of our broader mission to foster sustainable growth and development in Nigeria. We are dedicated to creating an environment where children can learn and thrive,” he stated.
This latest transformation at Ibeku High School, Umuahia, joins a growing list of successful renovations already completed across the country, including schools in Ogun, Niger, Akwa Ibom, Ekiti, Sokoto, Borno, and Gombe states. Each project reinforces Stanbic IBTC’s dedication to fostering educational excellence and creating lasting impact in communities across Nigeria.
The inauguration ceremony attracted distinguished dignitaries and community leaders; highlighting the collaborative effort between the private sector and local communities in advancing educational development. The renovated Ibeku High School now stands as a model for modern educational facilities in the region, equipped to provide quality education and support students in their academic journey. Through these strategic improvements, Stanbic IBTC continues to demonstrate its commitment to sustainable development and community empowerment, setting new standards for corporate involvement in educational advancement across Nigeria.
2. Economic Empowerment: Driving Financial Inclusion
Financial inclusion remains a major challenge in Nigeria, where millions of adults lack access to formal financial services. Stanbic IBTC Bank has integrated financial inclusion into its CSI initiatives, developing programmes that empower entrepreneurs, small businesses, and underserved communities.
Through the Stanbic IBTC Business Incubator, the bank provides training, mentorship, and access to capital for startups and small businesses. This initiative not only addresses unemployment but also strengthens the bank’s SME banking portfolio, creating long-term customer relationships with businesses that benefit from its support.
Its Blue Women Network Initiative empowers women entrepreneurs through financial literacy programmes, micro-loans, and capacity-building workshops. This initiative aligns with the bank’s commitment to gender inclusivity while also expanding its market share within the growing segment of women-led businesses. Stanbic IBTC Holdings, a member of Standard Bank Group launched its Blue Blossom community for Nigerian women, providing support and financial benefits to meet the unique needs of the Nigerian woman.
The Group said according to World Bank, women comprised 43.83 per cent of the labour force, and 43 per cent of businesses worldwide were owned by women. Despite increased financial services in Africa’s biggest economy in the last decade, 98 per cent of women still lacked access to formal credit markets. It said according to a recent report by the Rockefeller Philanthropy Advisor Gender Centre of Excellence, women and girls had limited access to education and healthcare, lack economic autonomy, and were under-represented in decision-making at all levels.
In a statement, the bank said the Blue Blossom Community was launched to enable women access financial and non-financial services, from banking services to non-banking services, including investments, retirement services, children accounts, free access to capacity-building sessions and special events.
Speaking on the community, the Executive Director, Business and Commercial Banking, Stanbic IBTC Bank, Remy Osuagwu, stated that women were the backbone of established societies and must be supported to contribute to growing communities in Nigeria.
“When women are exposed to and groomed in the art and science of business, coupled with receiving equitable financial services with affordable credit facilities, their potential for growth, leadership, and success is boundless,” he said. Also, the Stanbic IBTC Digital Skills Empowerment Program seeks to provide excellent digital training, upskilling and paid certifications to a group of eligible Nigerian candidates for free. The Stanbic IBTC DiSEP Program is an intensive program and a unique opportunity for young people who are resourceful and passionate to develop the required skills to build a fast-paced career.
Stanbic IBTC Digital Skills Empowerment Program is designed to aid the identification and attraction of unique digitally savvy candidates, equip and position them to be able to drive the future digital and technology objectives of Stanbic IBTC Group. Stanbic IBTC Digital Skills Empowerment Program is an intensive program and unique opportunity for young people who are resourceful and passionate about building a fast-tracked career and to help us drive our success into the future. The Stanbic IBTC DiSEP Program is an intensive program and a unique opportunity for young people who are resourceful and passionate to develop the required skills to build a fast-paced career.
DiSEP is an intensive program and a unique opportunity for young people who are resourceful and passionate to develop the required skills to build a fast-paced career.
3. Health: Supporting Community Well-being
Healthcare is another critical area where Stanbic IBTC has demonstrated leadership in corporate social investment. The bank’s health-focused initiatives range from direct medical interventions to broader public health advocacy.
One of its flagship projects is the Stanbic IBTC Wellness and Disease Prevention Campaign, which provides free medical checkups and awareness drives on prevalent health issues such as diabetes, hypertension, and maternal health. This initiative has benefited thousands of Nigerians, reinforcing the bank’s role as a socially responsible institution that genuinely cares about the well-being of its customers and communities.
Furthermore, during the COVID-19 pandemic, Stanbic IBTC played a crucial role in mitigating the crisis by donating to healthcare institutions, providing personal protective equipment, and supporting small businesses affected by lockdowns. These efforts not only showcased the bank’s commitment to social responsibility but also strengthened customer loyalty during a time of crisis. A signature Corporate Social Investment (CSI) initiative by Stanbic IBTC to raise awareness for children with Limb Loss
#Together4ALimb is a signature corporate and Social Investment (CSI) initiative of Stanbic IBTC. Although it is health related, it has an education element to it as well as an Economic Empowerment leg as it affords the recipients a level playing field to compete in life. An important aspect of the signature CSI is the charity walkathon, organised yearly to raise awareness of the plight and, hopefully, ginger deliberate actions by government, policymakers, and the general public to address the problem. Together4ALimb focuses on transforming the lives of children with limb losses from congenital issues or birth defects, accidents or mismanaged injuries. Such children are given prosthetic limbs and an Educational trust fund.
#Together4ALimb has been in existence since 2015. Up till date, a total number of 136 children have benefitted from receiving Prosthesis change annually and an educational trust fund till the age of 18 years. Currently, we have four children enrolled in creche, 8 beneficiaries in Nursery school, 59 beneficiaries in Primary School, 31 beneficiaries in Junior Secondary School, 10 beneficiaries in Senior Secondary School, 11 High School graduates, four beneficiaries in Tertiary Institution, 2 children in a special programme and 7 children in vocational training.
To join the walk and help us inspire hope for the children, download the Steps by Stanbic IBTC Mobile App on either Google Playstore or iOS Appstore and start taking steps that count. Stanbic IBTC has helped to change the course of the lives of 100 young Nigerians who have suffered limb losses through the #Together4ALimb CSI project since 2015. The Steps by Stanbic IBTC Mobile App allows you to clock your steps as we take the charity
4. Environmental Sustainability: Green Finance and Climate Action
In an era where climate change is a global concern, financial institutions are increasingly expected to lead in sustainable practices. Stanbic IBTC has integrated environmental sustainability into its business strategy, aligning with the global shift towards green finance. The bank has launched several initiatives aimed at reducing its carbon footprint and promoting eco-friendly business practices. These include the Stanbic IBTC Green Energy Programme, which funds renewable energy projects, and its commitment to financing sustainable infrastructure.
Moreover, the bank actively participates in tree-planting campaigns and waste management initiatives, reinforcing its position as a corporate leader in environmental stewardship. By doing so, Stanbic IBTC not only contributes to a healthier planet but also attracts environmentally conscious investors and customers
Stanbic IBTC Holdings, in collaboration with One Tree Planted and the African Research Association managing Development in Nigeria (ARADIN), has launched a significant environmental project titled “Enhancing Biodiversity Conservation and Sustainable Livelihoods in Afi Mountain Wildlife Sanctuary (AMWS).” This extensive tree-planting and conservation initiative aims to restore degraded watersheds and support local communities in Cross Rivers State, Nigeria.
The three-year project, spanning from April 2024 to March 2027, began with a flag-off ceremony on Friday, June 21, 2024, in celebration of World Rainforest Day. The event featured the planting of tree seedlings and was attended by Stanbic IBTC staff, representatives from the Cross Rivers State Government, and officials from One Tree Planted. This collaboration underscores a shared commitment to environmental preservation and sustainable development.
Dr. Demola Sogunle, Chief Executive of Stanbic IBTC Holdings, remarked, “Stanbic IBTC is committed to fostering sustainable development and environmental stewardship in Nigeria. Our tree-planting initiative demonstrates our dedication to enhancing biodiversity and supporting local communities. By restoring the Afi Mountain Wildlife Sanctuary, we aim at making a lasting positive impact on both the environment and the people who depend on it.” The project is set to significantly impact the local environment. In the first phase, from June to September 2024, 60,000 trees will be planted across 120 hectares. These trees will include environmentally beneficial indigenous species such as Mahogany, Achi, Opepe, African Nutmeg, Cedar, and Apawood.
Throughout the project’s duration, approximately 420 jobs will be created, with 84 positions already filled during the seedling preparation phase, 64% of which are held by women. Additionally, the initiative will benefit 300 small-scale farmers through capacity building and environmental conservation efforts, positively impacting several communities in the Boki Local Government Area. The restoration efforts will enhance soil stabilization and reduce the risks of erosion and landslides.
Harry P. Lynch, President and CEO of One Tree Planted, stated, “Planting trees in degraded or deforested areas helps the environment by accelerating and ensuring the re-establishment of healthy forests. Through reforestation, the canopy is restored, ecosystems are revitalized, and biodiversity can thrive.”
Supported by the Cross Rivers State Forestry Commission, the project focuses on restoring degraded watersheds in the Badu and Mkperebong river corridors within AMWS. This initiative aims not only at enhancing local biodiversity but also at improving the livelihoods of surrounding communities.
In the second and third years of the project, from April 2025 to March 2027, efforts will concentrate on site maintenance to ensure the long-term survival and growth of the planted seedlings. This comprehensive approach guarantees a sustainable impact, fostering a healthier environment and stronger community resilience.
Measuring Impact: The ROI of Corporate Social Investment
A key differentiator in Stanbic IBTC’s approach to CSI is its emphasis on measurable impact. The bank employs rigorous assessment frameworks to evaluate the effectiveness of its initiatives, ensuring that they deliver tangible benefits to both society and the business. For instance, the bank tracks the success rates of businesses supported by its entrepreneurship programmes, monitors educational outcomes in schools it has adopted, and evaluates improvements in public health metrics from its medical outreach programmes. These data-driven insights enable the bank to refine its strategies, enhance programme efficiency, and justify continued investment in CSI.
Financially, the returns on these investments manifest in several ways:
Enhanced Brand Reputation: Customers are more likely to trust and remain loyal to a brand that actively contributes to societal well-being.
Regulatory Goodwill: Engaging in meaningful CSI aligns the bank with government development agendas, fostering stronger relationships with policymakers.
Business Growth: Initiatives such as financial literacy and SME support ultimately expand the bank’s customer base and revenue streams.
Talent Attraction and Retention: Employees are more engaged and committed to companies that demonstrate a genuine commitment to social impact.
A Model for Sustainable Banking Stanbic IBTC Bank exemplifies how corporate social investment can be leveraged as a strategic tool for sustainable business growth. By embedding CSI into its core operations, the bank has successfully aligned its financial objectives with the broader goal of societal and environmental development.
In an increasingly interconnected world, businesses can no longer afford to operate in isolation from the societies they serve. For financial institutions in particular, the ability to drive positive social impact while maintaining profitability will be a defining factor in long-term success. Stanbic IBTC’s approach provides a compelling blueprint for other corporations seeking to integrate sustainability into their business models.
As corporate social investment continues to evolve, the future belongs to businesses that recognise the intrinsic link between financial success and societal progress. For Stanbic IBTC, the journey towards sustainable banking is not just a moral imperative—it is a business strategy that is paying dividends.
