Nigerian banker Atedo Peterside has seen the value of his stake in Stanbic IBTC Holdings Plc climb to nearly $25 million, as the lender’s shares surged 35% on the Nigerian Exchange in 2026. The rally has added almost $6 million to his holdings in under three months, driven by strong earnings growth and rising investor appetite for banking stocks.

Peterside, founder of Stanbic IBTC and a key figure in Nigeria’s financial sector, holds a 1.47% stake, equivalent to 233.7 million shares in the Lagos-based financial services group.

Stake gains track share price rally
The sharp increase in Stanbic IBTC’s share price, from N100 ($0.07) at the start of the year to N135.5 ($0.09), has lifted the value of Peterside’s stake from N23.37 billion ($16.87 million) to N31.67 billion ($22.86 million). The gain underscores renewed confidence in Nigeria’s banking sector as investors reposition portfolios amid macroeconomic shifts.

Stanbic IBTC crosses $1.5 billion valuation
Over the decades, Stanbic IBTC, founded in 1989 as an investment bank, has expanded into a full-service financial institution with strong footprints in pension management, asset management, and capital markets. Stanbic IBTC had Atedo N.A. Peterside as its first CEO. Peterside, a prominent figure in Nigerian banking and founder of Anap Business Jets and the Atedo N.A. Peterside Foundation

Stanbic IBTC’s market capitalization has now surpassed $1.5 billion, cementing its position among Nigeria’s leading financial institutions.

Profit jumps 69% on macro tailwinds
The bank reported a 69.01% increase in profit, rising to N380.79 billion ($274.98 million), supported by higher interest rates and favorable foreign exchange movements. Total assets climbed 24.71% to N8.62 trillion, while total equity rose 67.58% to N1.12 trillion ($811.86 million), highlighting balance sheet strength.

Nigeria’s banking sector has benefited from a rising interest rate environment, FX-driven earnings expansion, and strong capital buffers. Stanbic IBTC has emerged as a key beneficiary, attracting both institutional and retail investors.