Business
Stanbic IBTC maintains strong liquidity, grows FY 2018 PAT by 54%
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has released its audited financial results for the financial year to 31 December 2018 to the Nigerian Stock Exchange, which showed a strong liquidity position.
The results, released to the Exchange on Wednesday, showed the group grew its topline earnings for the financial year to N222.4 billion, compared with the N212.4 billion it achieved in the same period of 2017. Bottomline grew by 54% as profit after tax moved up to N74.4 billion compared with the N48.4 billion achieved in December 2017.
Other key performance indicators were equally impressive. The group’s total assets grew by 20% to N1,663.7 billion compared with the N1,386.4 billion in December 2017. Profit before taxation was N88.2 billion, up by 44% compared with the N61.2 billion in 2017. Customer deposit grew by 7% to N807.7 billion from N753.6 billion in the corresponding year. Of note was the company’s ability to reduce its toxic assets appreciably. The gross non-performing loans decreased by 50% to N17.7 billion compared with N35.3 billion in 2017. This decrease impacted positively the gross non-performing loan to total loan ratio, which improved to 3.9%, well below the regulatory mark of 5%, as against the 8.6% recorded in 2017. The non-performing loans figure is even more impressive when viewed against the 14% (N458.9 billion in 2018 – N403.9 billion in 2017) increase in gross loans and advances achieved in the financial year.
The Chief Executive, Stanbic IBTC Holdings PLC, Mr Yinka Sanni, says the balance sheet size was impacted by “growth in risk assets and financial investment portfolio,” a reflection of investment expertise and quality management, which saw its non-interest revenue rose by 15% to N102.6 billion from N89.2 billion in 2017. According to Sanni, “Strong growth in fees and commission income as well as write-backs, which resulted from recoveries made on previously written off loans and reversals on some non-performing loan, contributed to the strong showing.”
Stanbic IBTC said performances across its three divisions, Corporate and Investment Banking, Wealth Management businesses, and Personal & Business Banking, were strong and contributed to the turnover.
Sanni assured “As a financial institution we will continue to leverage on our universal financial services capability, unrelenting focus on cost control, digitization and client centricity to ensure that we continue to grow our capacity to provide incomparable high quality end-to-end financial solutions to our customers in a sustainable manner.”
Bank
Alpha Morgan Bank Expands Footprint with Three New Branches
Alpha Morgan Bank Expands Footprint with Three New Branches
Alpha Morgan Bank announced the opening of three new branches in Maitama Abuja, Garki Abuja and Olu Obasanjo Road, Port Harcourt, a strategic move that reinforces the bank’s commitment to expanding access to satisfying banking services across Nigeria.
With headquarters in Wuse 2, Abuja, and kickstart with over 14 branches nationwide, the bank’s expansion is expected to create several opportunities, supporting employment opportunities, stimulating small business growth and development initiatives through strategic partnerships and outreach.
“This growth is about deepening our connection to the communities we serve,” said Mr. Ade Buraimo, Managing Director/CEO of Alpha Morgan Bank. “We are not just opening doors; we are opening opportunities.”
The bank also offers tailored banking solutions, through its digital and *734# USSD banking. Alpha Morgan Bank is ensuring that individuals and businesses, regardless of background or digital literacy, can participate fully in the financial ecosystem.

Alpha Morgan Bank’s growth is anchored in a bold commitment to delivering satisfying banking to customers.
As the new branches open their doors, the Bank invites individuals, entrepreneurs, and corporate clients to walk in and experience its approach to Satisfying Banking.
Business
Actress Joke Lawal Unveiled as Brand Ambassador for Giant African Real Estate Firm, Masterpiece Homes
Actress Joke Lawal Unveiled as Brand Ambassador for Giant African Real Estate Firm, Masterpiece Homes
– Seals Three-Year Contract
By Oluwaseun Fabiyi
Masterpiece Homes Development and Gardens Limited has taken a bold step in strengthening its brand presence by unveiling celebrated Nollywood actress Joke Lawal as its new brand ambassador. The landmark announcement came with the signing of a three-year contract at the company’s head office in Lagos on Friday, August 22, 2025.
The unveiling ceremony, described as a major milestone in the company’s growth, featured a symbolic presentation of a branded Masterpiece T-shirt and the signing of official documents by Joke Lawal and the company’s Chairman, Prophet Israel Oladele Ogundipe, alongside the Group Managing Director, Mr. Emmanuel Oladimeji. The atmosphere was charged with excitement as dignitaries, industry stakeholders, and guests applauded the partnership.
Speaking at the event, Prophet Ogundipe expressed pride in the company’s achievements despite industry challenges. He emphasized the importance of youth participation in Nigeria’s real estate sector for long-term sustainability. “Masterpiece Homes continues to be a trailblazer in the industry. This partnership with Joke Lawal is a testament to our vision of connecting heritage, innovation, and trust,” he said.
Group Managing Director, Mr. Oladimeji, hailed the initiative as a strategic move that positions Masterpiece Homes beyond the confines of a conventional real estate firm. “This is more than business—it is about celebrating our resilience and creativity as Nigerians. Our new brand ambassador will play a pivotal role in reinforcing our value chain while ensuring we preserve a genuine real estate culture for generations,” he stated.
Joke Lawal, visibly elated, described Masterpiece Homes as a symbol of innovation and authenticity in Nigerian real estate. “This unveiling represents a bold step in redefining the real estate sector in Nigeria. Masterpiece Homes is not just a company—it is a celebration of identity, trust, and vision,” she remarked.
The event featured vibrant performances, with guests clad in branded attires, reflecting the company’s culture of community celebration.
Masterpiece Homes Development and Gardens Limited has long been recognized as a reputable real estate brand connecting Nigerians at home and abroad to legitimate homeownership opportunities. With Nigeria’s real estate now ranked as the nation’s third-largest sector—behind crop production and trade—the company has renewed its commitment to bridging investment opportunities between Africa and the diaspora.
The unveiling of Joke Lawal as brand ambassador, according to Mr. Oladimeji, is not only a milestone for Masterpiece Homes but also a stimulus for broader industry growth. “Diaspora investments in Nigerian real estate remain vital. By creating systems that make homeownership seamless, Masterpiece ensures a win-win for all stakeholders,” he noted.
With this partnership, Masterpiece Homes Development and Gardens Limited positions itself to expand its influence and uphold its reputation as a trusted leader in Africa’s booming real estate market.
Oluwaseun Fabiyi is the official media consultant to Masterpiece Homes Development and Gardens Limited
Business
Adron Homes Chairman Hosts NSE Ibeju-Lekki Executives, Explores Strategic Partnership
Adron Homes Chairman Hosts NSE Ibeju-Lekki Executives, Explores Strategic Partnership
The newly approved Ibeju-Lekki Branch of the Nigerian Society of Engineers (NSE), which recently emerged as the 91st branch of the Society, has paid a courtesy visit to the Chairman/CEO of Adron Homes and Properties Limited, Sir Aare Adetola Emmanuel King KOF, at the company’s headquarters.
The delegation of engineers, led by Engr. Olufemi Dare, FNSE, the Chairman of the Branch, described the visit as a strategic step towards strengthening relationships with corporate organizations that have consistently upheld professionalism and structural integrity in their projects.
In his remarks, Engr. Dare praised Adron Homes for its exceptional commitment to quality housing delivery across Nigeria and beyond, emphasizing that its reputation for structural integrity and innovation in real estate development stands as a reference point for engineering excellence. He further informed the Adron Chairman that the branch would be conferring an award of recognition on him at their forthcoming official inauguration ceremony, in acknowledgment of his outstanding contributions to housing development and infrastructural growth in Nigeria.
The discussions also explored potential partnership opportunities between NSE Ibeju-Lekki and Adron Homes in engineering, professional development, and sustainable housing innovations.
Responding, the Chairman of Adron Homes, Sir Aare Adetola Emmanuel King, warmly welcomed the delegation and expressed delight at the prospect of a lasting partnership. He acknowledged the critical role engineers play in national development, while also noting the numerous challenges facing the engineering sector in Nigeria. He stressed that these challenges can only be surmounted by engaging qualified and dedicated professionals, a principle upon which Adron Homes has built its reputation.
According to him, “Engineering is the backbone of any meaningful infrastructural advancement, and as developers, we cannot afford to compromise on professionalism. This is why I am excited about this partnership and look forward to building a mutually beneficial relationship with the NSE Ibeju-Lekki branch.”
The NSE Ibeju-lekki delegation included Engr. Tiramisu Bello, MNSE (Vice Chairman); Engr. Omolola Adetola, FNSE (General Secretary); Engr. Taiwo Musa, MNSE (Assistant General Secretary); Engr. Ayodele Agunloye, MNSE (Financial Secretary); Engr. Opeyemi Olabisi, MNSE (Technical Secretary); Engr. Oluwadare Raji, MNSE, among several others.
On the part of Adron Homes, the Chairman was joined by key members of the executive team, including Adenike Ajobo, Managing Director; Tolani Roberts, Deputy Managing Director, Business Investment and Development; Mr. Kunle Ifeanyi Konwea, Director of Brand and Communications; Maureen Echefu, Chief Press Secretary, among others.
The visit not only highlighted Adron Homes’ enduring commitment to professional engineering standards, but also set the tone for a new chapter of collaboration between the real estate giant and the newly inaugurated NSE Ibeju-Lekki Branch, with both parties pledging to drive innovations that will redefine housing and infrastructural development in Nigeria.
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