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Stanbic IBTC Commits N10.2billion To Health Sector


Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has continued to partner with stakeholders in the health sector by contributing over N10.2 billion to boost the sector in fulfilment of its corporate social investment initiative pillars in Education, Economic Empowerment, and Health.

According to the Chief Executive, Stanbic IBTC Bank PLC, Wole Adeniyi, said aside from taking part in various strategic partnerships with healthcare providers; the organisation has contributed over N10.2 billion to boost the sector in several ways including through the CBN Healthcare Sector Loan to offer quality healthcare service.

He added that, out of the N10.2 billion, the bank offered an N6.7 billion loan for the construction of Baze University Private Teaching Hospital in Abuja, and created an N2 billion Special Fund for health care providers to buy equipment and improve health care delivery.

He stressed that through collaborations with various stakeholders in the health sector, Nigerians would continue to have easy access to quality healthcare.

The Chief Executive noted that Stanbic IBTC Bank recently partnered with ISN Medical to offer interest-free loans of up to N1.5 billion to clinics, medical laboratories, diagnostic centres, and other healthcare providers for the procurement of medical diagnostic and healthcare products.

Speaking on the recent ISN partnership, Adeniyi said: “We are happy to be part of this partnership. We believe that there are several benefits that both parties can derive from this collaboration. The loan facilities will go a long way in enabling healthcare providers to have access to up to N1.5 billion in medical equipment finance. We believe that our goal of enabling healthcare providers’ easy access to finance is achievable, especially through ISN Medical, a foremost supplier of medical diagnostic products and services in the country.”

He further emphasized that Stanbic IBTC Bank would continue to engage in strategic partnerships that would be of great benefit to Nigerians seeking to access affordable and quality healthcare in addition to growing the health sector of the country. 

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