Stanbic IBTC Holdings Plc recorded a 33% increase in profit after tax to N370.36 billion for the nine months ended September 30, 2026, compared with N278.48 billion in the corresponding period of 2025.
The financial services group disclosed the performance in its interim financial statements dated October 23, 2026, which showed that total income increased by 24.8% to N817.77 billion from N655.16 billion.
Profit before tax rose by 35.1% to N531.88 billion from N393.84 billion, supported by higher non-interest revenue and improved credit impairment charges.
Non-interest revenue more than doubled to N437.99 billion from N208.70 billion, driven largely by a sharp increase in trading income.
Trading revenue surged to N210.13 billion from N23.86 billion, while net fee and commission revenue increased by 26.5% to N218.30 billion from N172.59 billion.
However, net interest income declined by 14.9% to N379.79 billion from N446.47 billion as interest income fell and funding costs increased.
Interest income decreased to N545.35 billion from N576.18 billion, while interest expenses rose to N165.57 billion from N129.72 billion.
The group also reported a significant improvement in credit impairment charges, recording a net impairment loss of N507 million compared with N11.64 billion in the corresponding period of 2025.
Operating expenses increased by 14.3% to N285.39 billion from N249.69 billion, with staff costs rising to N103.89 billion from N82.90 billion.
Despite the increase in expenses, earnings attributable to ordinary shareholders rose to N366.26 billion from N275.29 billion, while basic earnings per share improved to N23.03 from N17.31.
For the third quarter alone, profit after tax increased by 24.4% to N130.68 billion from N105.05 billion, supported by higher trading revenue and an impairment write-back.
Beyond earnings, Stanbic IBTC Holdings’ total assets expanded by 11.4% to N9.60 trillion as of September 30, 2026, compared with N8.62 trillion at the end of December 2025.
Customer deposits increased to N4.57 trillion from N4.37 trillion, while loans and advances to customers rose to N2.61 trillion from N2.38 trillion.
However, total loans and advances, including placements with banks, declined to N3.04 trillion from N3.84 trillion, reflecting a substantial reduction in loans and advances to banks.
Shareholders’ equity strengthened to N1.43 trillion from N1.12 trillion, while cash and bank balances increased to N1.95 trillion from N1.70 trillion.
The results highlight the growing contribution of trading and fee-based activities to Stanbic IBTC Holdings’ earnings, helping offset weaker net interest income during the nine-month period.