Stanbic IBTC Appoints Chukwuma Nwokocha, New Group Chief Executive

In a move set to usher in a new era of leadership, Stanbic IBTC Holdings PLC has appointed Mr. Chukwuma Nwokocha (Chuma) as its substantive Group Chief Executive. The appointment, effective October 2, 2025, follows the receipt of all necessary regulatory approvals and concludes a strategic formal selection process.

A Leader with Pan-African Experience

Mr. Nwokocha is a highly accomplished chartered accountant and seasoned banking executive, bringing over three decades of leadership experience cultivated across the African continent. His distinguished background includes holding various Chief Executive and Board-level roles in major financial institutions. Notably, he previously served as the Chief Executive of Standard Bank’s Mozambican subsidiary, where he was instrumental in driving strategic growth, governance, and operational excellence. His diverse expertise spans crucial areas such as retail and corporate banking, as well as complex mergers and acquisitions.

Commenting on the appointment, Mrs. Sola David-Borha, Chairman of Stanbic IBTC Holdings PLC, expressed the Board’s confidence, highlighting Nwokocha’s proven track record in board governance, financial oversight, strategic transformation, and regulatory engagement. The Board is certain that his leadership will be pivotal in steering the Group’s future growth strategy.

Building on Record-Breaking Performance

Nwokocha takes the reins from Dr. Adekunle Adedeji, who successfully navigated the Group through the transition period as the Acting Chief Executive. Dr. Adedeji will continue to serve as the Executive Director and Chief Finance and Value Management Officer (CFVMO).

Mrs. David-Borha lauded Dr. Adedeji’s tenure as “impactful and historic,” noting two monumental achievements:

1. The Group recorded its best financial performance since inception under his interim leadership.
2. He successfully completed the Rights Issue Programme, ensuring the banking subsidiary fulfilled the Central Bank of Nigeria’s (CBN) recapitalisation requirements well ahead of the March 31, 2026, deadline.

The strength of the Group’s position is reflected in its recent financial results for the first half of 2025 (H1 2025). The company reported a significant surge in earnings, with Gross Earnings climbing 35.2% year-on-year to N516.63 billion. This led to a 65.8% surge in Profit Before Tax (PBT) to N243.74 billion, with Profit After Tax (PAT) increasing by 49.1% to N173.43 billion. The Group’s total assets stood at N8.12 trillion as of June 30, 2025, underscoring its robust financial health as it transitions to new leadership.