The Standard Bank Group merged its Nigerian operations, Stanbic Bank Nigeria with that of IBTC Chartered Bank PLC. The merger was legalised on the 24th of September 2007.Stanbic IBTC Bank PLC through its wholly owned stock broking and asset management subsidiary, IBTC Asset Management Limited has several excellent mutual funds including the IBTC Nigerian Equity Fund, which is Nigeria’s largest mutual fund with a net asset value in excess of N25 billion (as at December 2007).  It is the only bank that has a direct subsidiary that is a pension fund administrator; through the market leading IBTC Pension Managers Limited (IPML).Stanbic IBTC Bank PLC offers its clients a wide range of corporate, investment, business and personal banking products and solutions.