Stanbic IBTC Holdings Plc has released its first-quarter financial statement for the period ended 31 March 2025, revealing a pre-tax profit of N116.4 billion.
This achievement represents an impressive 85.63% increase compared to the N62.7 billion reported during the same quarter last year, driven primarily by a significant surge in interest income.
First quarter interest income soared to N180.4 billion, up from N115.8 billion in the previous year, reflecting a substantial growth of 55.84%.
- Notably, loans and advances constituted the largest portion of this income, totaling N111.2 billion, while interest from investments contributed N58.5 billion.
The Group’s interest expenses declined by 21.39%, from N38.9 billion to N30.5 billion in Q1 2025.
- Additionally, Stanbic IBTC achieved revenue of N63.7 billion from fees and commissions, a noteworthy increase from N44.5 billion reported the prior year.
Consequently, total income surged by 48.86%, rising from N138.2 billion to N203 billion.
- The net impairment write-back on financial assets stood at N3.4 billion, a significant improvement from a loss of N7.1 billion reported last year.
Furthermore, the Group’s total assets reached an impressive N7.3 trillion, marking a year-over-year increase of 7%.
Key highlights
- Interest income: N180.4 billion, +55.84% YoY
- Interest expense: N30.5 billion, -21.39% YoY
- Net interest income: N149.8 billion, +94.92% YoY
- Fees and commission revenue: N63.7 billion, +43.10% YoY
- Total income: N203 billion, +46.86% YoY
- Net impairment write-back on financial assets: N3.4 billion, +148.54% YoY
- Pre-tax profit: N116.4 billion, +85.63% YoY
- Total assets: N7.3 trillion, +7.00% YoY
As of market close on 25th of April 2025, shares of the company were priced at N59.20, reflecting a year-to-date gain of 2.78%.
