Stanbic IBTC unveils smart loan solution | Dailytrust

Stanbic IBTC unveils smart loan solution

Stanbic IBTC
Stanbic IBTC

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings PLC, has introduced a smart loan digital solution to enable customers who have an account with their asset management arm to access loans to meet their medium-term financial obligations.

The bank, in a statement yesterday, said the devaluation of the naira due to the global economic downturn has reduced disposable income as more naira is required to maintain the current level of expenditure and consumption.

It stated that the smart loan, a digital, paperless loan facility will come in handy for many Nigerians, especially those in dire need.

It is available to customers with a mutual fund investment with Stanbic IBTC Asset Management and they can access up to N10 million loan instantly.

In a remark, the Chief Executive, Stanbic IBTC Asset Management, Oladele Sotubo, said, “The smart loan product is designed to help provide our customers with the necessary financial support of up to N10 million to meet their medium-term financial responsibility, while also positioning them on a path to long-term financial stability.

“We understand the need for constant cash flow and its relevance to our livelihoods and households.”

The Head, Client Solutions, Bunmi Dayo-Olagunju, also said, “We are delighted that we can further serve our customers in positive ways that improve their finances through our array of financial products.”

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