Stanbic IBTC Releases Mid-Year Audited Results

  • Records Increases In Gross Earnings And Non-Interest Revenues
  • Declares 100 kobo Interim Dividend

Stanbic IBTC Holdings PLC,
a member of the Standard Bank Group, has announced its mid-year audited results
for the period ended June 30, 2019. The Group also announced an interim
dividend of 100 kobo.

According to the Stanbic
IBTC’s income statement, the Group recorded an increase in gross earnings to
N117.4 billion, representing a 3% growth. The company also maintained its total
operating income of N94 billion.

Also read  Goldberg Pledges Robust Consumer Engagement at Osun Osogbo Festival

Profit before tax stood at
N44.7 billion, while profit after tax was N36.2 billion. Other results reflect
an increase in non-interest revenue which stood at N54.9 billion while
net-interest income was N39.3 billion.

Stanbic IBTC’s balance
sheet reflect that the Group’s total asset’s was N1,619.3 billion while
the gross loans and advances was N479.7 billion, an increase in 5%, compared to
last year’s figures. While customer deposits was N693.5 billion, there was an
improvement in current-and-savings-accounts deposits mix which went up to

Also read  Mastercard Drives Global Startup Ecosystem at Connecting Tomorrow Forum

Speaking at the formal
announcement of the results at the Stanbic IBTC Holdings PLC Headquarters,
Yinka Sanni, Chief Executive, Stanbic IBTC, stated that the Group’s business
segments were profitable, despite the challenging business and regulatory

He said: “Our financial
results in the first half of 2019 reflected similar trends encountered in the
first quarter. The operating environment remained …read more

Also read  Stanbic IBTC Bank Wins Best Foreign Exchange Provider Award

Source:: MediaCraft