Stanbic IBTC Bank, a member of Stanbic IBTC Holdings has been named the “Best Sub Custodian” in Nigeria for 2013 by the Global Finance magazine.
The bank in a statement at the weekend attributed the award to its expertise and leadership in the provision of custody services in Nigeria. The bank won the same award in 2011 and 2012.
The award, which is in its 7th edition, recognises the important role sub-custodians play in the safekeeping of clients’ assets, such as stocks, treasury bills and bonds.
The Publisher and Editorial Director of Global Finance, Joseph Giarraputo said: “The sub-custody market is in a state of flux, with new regulations to deal with and a changing landscape of market players.
“Sub-custodians are key to the safekeeping of client assets. With these awards, we evaluate those banks that do the best job of asset servicing and protection in highly complex global markets.”