The drive to deepen the Nigerian capital market through introduction of more asset classes has received a boost with the launch of Securities Lending product by Stanbic IBTC Bank Plc.
Securities lending involves temporary transfer of securities from one party (the lender) to another (the borrower) for a fee. These transactions are facilitated through an intermediary acting as an agent or principal intermediary between the lender and borrower. The borrower is obliged to return the securities, either on demand or at the end of a term.
The launch, according to the bank, is in line with its tradition of highlighting opportunities that would help investors derive optimal value from their investment.
In his opening remarks at the launch in Lagos, Chief Executive, Stanbic IBTC Bank, Mr. Yinka Sanni, said as a member of a global banking group, Stanbic IBTC has a responsibility to help grow the capital market through products and initiatives that could help investors harness investment opportunities that exist in Nigeria.
Excerpts from Vanguard
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