- Gross Earnings grew by 5.1% to N234bn from N222bn in the previous quarter.
- Profit before tax grew by 3.1% to N91bn.
- Profit after tax grew by 0.8% to N75bn.
- Net Assets also grew by 26.1% to N302bn from N240bn.
Stanbic IBTC Holdings Plc reported has released its audited 2019 financial statement. The report, which was published on the Nigerian Stock Exchange website
Stanbic IBTC’s gross earnings during for the 12-month period ended December 2019 stood at N233.8 billion, indicating that there was a 5.1% increase compared to N222.4 billion reported during the comparable period in 2018.
Conversely, Stanbic IBTC’s net interest for the period decreased slightly by 0.48% to N77.8 billion, down from N78.2 billion in 2018.
This reduced by 1.6% to N94 billion, down from the N95.6 billion operating costs the compared incurred in full-year 2018.
Stanbic IBTC’s profit before tax in full-year 2019 was N90.9 billion. This is more than the N88.1 billion that was reported for FY 2018. In the same vein, profit after tax for FY 2019 increased, although by just 0.8%. PAT stood at N75 billion as against N74.4 billion in FY 2018.
The company also announced that it would pay a final dividend of N2.00 per ordinary share of 50 kobo, subject to appropriate withholding tax and necessary approvals.