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Stanbic IBTC Holdings Plc experienced a 2.7% increase in its gross earnings for the half-year period ended June 30, 2019.     

This was disclosed in the company’s H1 2019 financial statements published earlier today on the website of the Nigerian Stock Exchange.  

Gross Earnings: The bank’s gross earnings for the period stood at N117.3 billion, compared to N114.2 billion recorded in 2018, representing a 2.7% increase.  

[READ MOREUnity Bank’s H1 2019 results indicate 96% growth in profit] 

Stanbic IBTC

Profit Before Tax: This decreased by 11.9% to N44.6 billion during the period under review, compared to N50.7 billion recorded in June 2018.    

Profit After Tax: Similarly, the bank’s profit after tax stood at N36.2 billion as against N43.1 billion recorded in the same period in June 2018, representing a 15.8% dip 

Earnings Per Share (EPS) fell from N416 in 2018 to N342 in 2019.  

[READ ALSODangote Sugar Refinery’s profit declines in H1 2019] 

Major assets were derived from Cash and Cash equivalents, pledged assets, trading assets and derivative assets 

The Profit recorded by the bank has been attributed to Equity holders of the parent entity and Non-controlling interests. 

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CLICK here to download the full report.

  

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