Stanbic IBTC Holdings Plc has reported a 49.1 percent rise in after-tax profit to N173.4 billion for the six months ended June 30, 2025, up from N116.4 billion in the same period last year, as growth across banking, pensions, and asset management outweighed weaker trading income.
Gross earnings climbed 35.2 percent year-on-year to N516.6 billion from N382.1 billion in H124, with profit before tax rising 65.8 percent to N243.7 billion. The performance was driven by net interest income, which nearly doubled to N316 billion, reflecting higher yields on loans and fixed-income securities in Nigeria’s elevated interest rate environment.
Non-interest revenue fell 8.7 percent to N117.9 billion, dragged down by trading revenue, which reversed into a loss of N856 million compared with a N39.7 billion gain in the prior year.
However, this was offset by a 37.8 percent jump in fee and commission income to N114.3 billion, underpinned by strong contributions from asset management, pensions, and brokerage services.
Impairment charges improved significantly, with net provisions easing to N11.1 billion from N26.5 billion a year earlier, reflecting better asset quality and recoveries.
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As the cost of doing business significantly increased, the holding company’s operating expenses rose 38 percent to N179.1 billion due to inflationary pressures and higher staff costs, but the cost-to-income ratio still improved, underscoring revenue strength.
The holding company’s earnings per share increased to N1,078 kobo from N884 kobo in H1 2024.
Stanbic IBTC’s balance sheet expanded 17.5 percent to N8.12 trillion from N6.91 trillion at December 2024, driven by trading assets and financial investments. Loans and advances stood at N2.5 trillion, while customer deposits grew 6.2 percent to N3.43 trillion, reflecting stable funding.
The bank statement disclosed that shareholders’ equity strengthened to N951.2 billion, boosted by retained earnings and a N140 billion rights issue concluded earlier in the year.
Net cash from operating activities dipped sharply to N173.1 billion from N1.16 trillion in H1 2024 due to lower trading gains and higher working capital outflows. Investing cash flow improved modestly to N4.4 billion, while financing outflows reflected dividend payouts and debt servicing.
The holding company further disclosed that the directors recommended an interim dividend of N39.8 billion, or N2.50 per share, up from N2.00 per share a year earlier.
“This will be paid to shareholders whose names appear in the Register of Members as at close of business on Monday, October 6th, 2025,” it said.