Stanbic IBTC Holdings Plc has released its audited full year 2022 results, reporting a pre-tax profit of N100.35 billion.
This represents a 52.04% increase from the N66 billion the group reported during the same period in 2021.
The earnings report is summarised below.
Gross earnings
- 2022 FY: N287.54 billion
- 2021 FY: N206.64 billion
- Change: +39%
Interest income
- 2022 FY: N152.67 billion
- 2021 FY: N104.75 billion
- Change: +45.7%
Interest expenses
- 2022 FY: N39.55 billion
- 2021 FY: N29.38 billion
- Change: +34.6%
Pre-tax profit
- 2022 FY: N100.35 billion
- 2021 FY: N66 billion
- Change: +52.04%
Net Profit after tax
- 2022 FY: N80.81 billion
- 2021 FY: N56.97 billion
- Change: +41.8%
Bottom line: The growth in pre-tax profits was due to the increase in interest income boosted by loans and advances to customers and credit-related fees and commissions. Interest on loans and advances to customers contributed N119.96 billion or 78.57% of the total interest income realized by the group.
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What dividend did they declare ?
2 naira final dividend