Stanbic IBTC Plc reported revenue of N56.72 billion in 2020 Q3, compared to N58.78 billion in the same period of 2019.
Key highlights for 2020 Q3
- Revenue decreased to N56.72 billion, -3.52% YoY
- Revenue from interest income decreased to N26.82 billion, -11.34% YoY
- Revenue from fees and commission income increased to N19.14 billion, +1.55% YoY
- Revenue from trading increased to N10.11 billion, +5.44% YoY.
- Revenue from other revenue increased to N649 million, +562.24% YoY.
- Pre-tax profits remained N24.46 billion, +0.00% YoY.
- Earnings Per Share increased to 183 kobo, +2.23% YoY.
Bottom Line: Stanbic IBTC Plc recorded increased revenues from three of its four revenue-generating units, although total revenue decreased. Companies have recorded decreased revenues in the last three quarters mostly due to COVID-19.
Stanbic IBTC could not grow its revenues in the period under consideration. However, pre-tax profits remained the same in the period under consideration.