• Stanbic IBTC released its 2015 H1 results showing pretax profit dropped 53 percent to N9.53 billion  compared to a year ago.
  • Gross earnings fell 16 percent to 68.29 billion naira during the six-month period to June 30
  • Profit after Tax also dropped 40% to N9.6b as operating expenses increased by 6.65%
  • Stanbic also posted a 46% drop in EPS to 80kobo per share.
  • Stanbic also continued to increase its impairment charge is it took another N4b charge to take its loan losses to N7.89 billion for the first half of the year alone.
  • Impairment has now more than doubled the N3.1billion it took in the whole of 2014.
  • Stanbic IBTC also cut its interim dividend to 0.90 naira per share, from 1.10 naira last year.