Stanbic IBTC partners IE Business School on loan finance deal

Stanbic IBTC Bank Plc has signed a direct financing agreement with IE Business School, a leading business school in Spain, to help people acquire the relevant skills in entrepreneurship and business. The partnership will see Stanbic IBTC provide loan facilities for students enrolled in IE’s top ranked MBA programmes.

The collaboration will be operative for an initial period of one year starting from May 2015, and will be renewable for another year. Under the scheme, participants who have been admitted by IE for its Masters programmes, would qualify for financing from Stanbic IBTC Bank under its Unsecured Personal Loan scheme.

Beneficiaries who are not existing customers of Stanbic IBTC Bank will be required to open an account with the bank. The bank would bear up to 100 percent of the value of the programme based on prevailing interest rate.

Speaking at the Memorandum of Understanding, MoU, signing ceremony in Lagos, Obinnia Abajue, Executive Director, Personal and Business Banking, Stanbic IBTC Bank, said the partnership fits into the institution’s goal of fostering economic empowerment through strategic interventions that enable individuals and businesses realize their aspirations.

He noted that it was the pursuit of this objective that informed the creation of the Stanbic IBTC Business Leadership Series, which made its debut last year, to build a new cadre of leaders among people and businesses in Nigeria. Similar capacity-building initiatives spanning various sectors of the economy, including MSME, transport and logistics, trade and finance have also been organized by the Stanbic IBTC Group on an ongoing basis to support individuals and businesses, Obinnia stated.

“The partnership with IE opens another window of opportunity to empower people for self-development and actualization. It is in sync with our operating mantra, which is moving forward. “At Stanbic IBTC Bank, we are mindful of the fact that socio-economic growth and development are anchored on sound education and robust infrastructural base. This conviction underscores our strategic interventions in critical sectors of the economy, including education,” he said.

- Culled from: http://www.vanguardngr.com