Stanbic IBTC Provides Interest Free Loans

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CEM REPORT | Stanbic IBTC Bank, has created a N1.5 billion interest-free loans to clinics, medical laboratories, diagnostic centres, and other healthcare providers for the procurement of medical diagnostic and healthcare products.

The subsidiary of Stanbic IBTC Holdings Plc, has also partnered with ISN Medical, to make procurement of medical diagnostic and healthcare products in Nigeria easier for practitioners.

This is according to the CEO of Stanbic IBTC Bank, Wole Adeniyi, in a statement.

“We are happy to be part of this partnership. We believe that there are several benefits that both parties can derive from this collaboration.

“The loan facilities will go a long way in enabling healthcare providers to have access to up to N1.5 billion in medical equipment finance.

“We believe that our goal of enabling healthcare providers easy access to finance is achievable, especially through ISN Medical, a foremost supplier of medical diagnostic products and services in the country,”

He further promised that Stanbic IBTC Bank would continue to engage in strategic partnerships that would be of great benefit to Nigerians seeking to access affordable and quality healthcare in addition to growing the health sector of the country.

According to Business Post the N1.5 billion credit facility is part of the N10.2 billion provided by the commercial bank to boost the country’s healthcare system in fulfilment of its corporate social investment initiative pillars in education, economic empowerment and health.

Recall that in 2021, the bank provided a N6.7 billion loan facility for the building of BAZE University Private Teaching Hospital in Abuja and then created a N2 billion special fund for healthcare providers to buy equipment and improve health care delivery.

ISN Medical is a leading supplier of medical diagnostic products and services in Nigeria, with over 40 years of operations.

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