By Samuel Bankole
Stanbic IBTC Holdings PLC announced on Monday that it has secured regulatory approval to rebrand its fintech subsidiary from “Stanbic IBTC Financial Services Limited” to “ZEST Payments Limited” (ZEST).
In a disclosure to the Nigerian Exchange Limited, the financial institution clarified that despite the name change, ZEST Payments Limited remains fully owned by Stanbic IBTC Holdings PLC.
The alteration in nomenclature does not entail any modifications to ownership, shareholding structure, or business operations, the lender stated.
The move to rename the subsidiary, as per Stanbic IBTC, aims to align with its evolving vision and brand identity.
The institution emphasized that the adjustment underscores its commitment to providing enhanced services to clients and stakeholders.
The regulatory communication conveyed the following:
“This is to inform Nigeria Exchange Limited as well as our esteemed Stakeholders of the change in the name of our fintech subsidiary from “Stanbic IBTC Financial Services Limited” to “ZEST Payments Limited” (ZEST), following the receipt of all required regulatory approvals.
“Notwithstanding the name change, ZEST remains a wholly owned subsidiary of Stanbic IBTC Holdings PLC, with no change of ownership or shareholding structure or business objects of the company have occurred as a result of this.
“ZEST will also continue to operate within the same regulatory framework set forth by the Central Bank of Nigeria.
“Our commitment to providing exceptional financial services to our customers remains unwavering, and this name change is intended to reflect our evolving vision and brand identity, enabling us to better serve our clients and stakeholders more exceptionally.”
(Edited by Oludare Mayowa; email@example.com; Newsroom: +234 8033 964 138)