Non-Executive Director Sola David-Borha Sells N39M Stanbic IBTC Shares

Sola David-Borha, who serves as a Non-Executive Director at Stanbic IBTC Holdings Plc, recently made a financial move. She sold a total of 615,812 shares in the company, which amounted to a value of N39 million. This significant transaction was officially announced through a statement regarding Directors’ dealings. Chidi Okezie, the Company Secretary, signed off on this announcement, and it was submitted to the Nigerian Exchange.

It’s worth noting that the sale of these 615,812 shares accounts for just 0.01% of the entire outstanding shares of the company.

What the company is saying 

The Tier-2 Bank revealed that Sola David-Borha sold the shares at N63.21 per share. 

Checks by ThePressNG reveal that the 615,812 shares sold represent the total units held by the Director as at 2023 Half Year Financial Statement of the company. 

The company also disclosed that the transaction was done on 31st of August 2023. 

Brief Profile of Sola David-Borha 

Mrs David- Borha recently retired as the Chief Executive, Standard Bank (Africa Regions). Prior to that, she served as Chief Executive of Stanbic IBTC Holdings PLC (2012-2017) as well as the Bank (2011-2012), after holding various executive positions in Corporate Banking; Corporate & Investment Banking; and Investment Banking Coverage for Africa (excluding South Africa).  

She is also an Independent Non-Executive Director on the Board of Coca-Cola Hellenic Bottling Company. She has an extensive career in the financial services industry which has spanned over 30 years.

Her executive educational experience includes the Advanced Management Program of Harvard Business School and the Global CEO Program of CEIBS, Wharton and IESE.  

She is an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria and winner of the CNBC African Woman of the Year Award for 2016. 

What You Should Know  

Stanbic IBTC reported its 2023 Half-year results showing pre-tax profits grew by 107.58% year on year, reaching N82.985 billion.   

The substantial growth in pre-tax profit can be attributed to the significant growth in gross earnings, driven by growth in net interest income, non-interest income, and trading revenue.