Stanbic IBTC posts 0.80%  profit growth for 2019

Stanbic IBTC Holdings Plc recorded a marginal growth of 0.80 per cent for 2019 as it declared after-tax profit of N75.035 billion for full year 2019, compared to the N74.440 billion recorded in the same period of 2018.

The bank recorded Gross Earnings of N233.808 billion in the review period which 5.15 per cent improvement on N222.360 billion recorded in 2018.

Improvement in Gross Earnings was driven by an increase in several components including Interest Income, which rose from N118.382 billion at FY2018 to N120.412 billion at FY2019, implying 1.71% growth.

Non-Interest Revenue leapt by 6 per cent, rising from N102.604 billion at full year performance of 2018 to N108.755 billion in the corresponding period of 2019.

Trading Revenue surged from N31.311 billion at year end 2018  to N36.332 billion at full year 2019, translating to a 16 per cent increase.

Profit Before Tax (PBT) rose from N88.152 billion for 2018 to N90.925 billion at full year2019, a 3.14 per cent growth as a matter of fact.

Earnings Per Share (EPS) however declined from N7.04 at FY2018 to N6.92 in the relative period of 2019, translating to a 1.7% drop.

Its outstanding shares currently stand at 10,504,967,358 valued at N435,956,145,357.

Stanbic IBTC Bank is a member of Johannesburg-headquartered Standard Bank, itself Africa’s biggest lender by assets. With over 180 branches all over Nigeria, its operations cover personal and commercial banking.

Stanbic IBTC has maintained a consistent dividend history for long as it has been rewarding its shareholders with cash dividends every year since 2005.