Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Stanbic Bank Drops in Longest Losing Streak in Six Months

Stanbic IBTC Bank Plc, a unit of Standard Bank Group Ltd., fell for a fifth day, its longest losing streak since Jan. 26, after the company announced restructuring plans.

The stock dropped 3.1 percent to 6.20 naira by the close in Lagos, its lowest since July 3.

Stanbic will cancel four-fifths of its shares this month as part of its group’s restructuring into a holding company, it said on July 26. Shareholders will receive 50 kobo for each share canceled.

The restructuring plans have caused confusion in investors, Raheem Mohammed, chief operating officer of Lagos-based Kundila Finance Ltd., said by phone today. “So they are exiting the stock now to wait for the coast to clear before they re-enter,” he said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.