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Nigeria's Stanbic seeks approval to restructure

LAGOS (Reuters) - Nigeria's Stanbic IBTC Bank, said on Tuesday it will seek shareholders' approval to transfer its subsidiaries into a newly-formed holding company, in line with regulatory requirements to separate core lending from other businesses. The central bank two years ago scrapped the universal banking model and directed lenders in Africa's second biggest economy to sell their stake in ...
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Added July 10, 2012
from Yahoo Nigerian News