Stanbic IBTC Bank PLC has showcased determination to extend equal opportunity policy beyond its business with the introduction of the Blue Blossom account, dedicated specifically to empower women.
At the launch at a virtual event, Chief Executive, Stanbic IBTC Bank PLC, Mr. Wole Adeniyi said the new product is tailored to help women get better and easier access to business finance.
He said “This product aims to help bridge the financing gap for women in careers/businesses and to promote women’s economic empowerment, in line with the CBN’s Nigerian Sustainable Banking Principles,”
He explained that with a minimum account opening balance of N20,000, a Blue Blossom account holder has a zero current account maintenance (CAM) fee, with access to loan facilities just as the account holder gets access to business clinic sessions, a discounted fee of 0.50% on loan management fees, a branded debit card and a cheque book.
The bank Executive Director, Personal and Business Banking, Stanbic IBTC Bank PLC, Remy Osuagwu reiterated that the Stanbic IBTC Blue Blossom account is in line with Stanbic IBTC Bank’s long-standing commitment to enable enterprise and empower women, their businesses and careers.
To ensure women are the Blue Blossom account’s major benefactors, Stanbic IBTC Bank explained that only businesses with 50% or more female ownership structure would qualify, and the account signatories must be women.
Also speaking, the bank Head, Product and Strategic Partnerships, Olajumoke Bello while unveiling the product, stated that the Blue Blossom Account confirms its unabated drive to promote financial inclusion, especially among women.
Olajumoke said the bank has been at the forefront of women empowerment in Nigeria, especially with laudable initiatives such as its seed funding initiative for women in agriculture in partnership with the United Nations, the Stanbic IBTC HeforShe initiative which seeks to promote gender equality, and the Stanbic IBTC Founders Institute, which provides mentorship to female-owned startups.
