Stanbic IBTC Holdings Plc reported a pretax profit of N165.3 billion for Q1 2026, representing a 42.04% year-on-year increase from N116.4 billion recorded in Q1 2025.
According to its results for the period ended 31 March 2026, the growth was supported by contributions from both interest income and non-interest income lines.
Interest income rose to N186.3 billion from N180.4 billion, driven largely by loans and advances to customers, which accounted for 57.8%, while investments contributed about 40%.
On the non-interest side, fees and commissions rose to N83.1 billion from N63.7 billion, while customer deposits on the balance sheet declined to N4.08 trillion from N4.3 trillion in 2025.
Key highlights (Q1 2026 vs Q1 2025)
- Interest income: N186.3 billion, up 3.24% YoY
- Net interest income: N135.8 billion, down 9.38% YoY
- Fees and commissions revenue: N83.1 billion, up 30.37% YoY
- Trading revenue: N55.1 billion vs a loss of N6.9 billion
- Non-interest revenue: N130.3 billion, up 145.28% YoY
- Total income: N266.1 billion, up 31.09% YoY
- Net impairment: N2.8 billion vs a gain of N3.4 billion
- Operating expenses: N97.9 billion vs N90.04 billion
- Pretax profit: N165.3 billion, up 42.04% YoY
Driving the numbers
Of the N186.3 billion interest income, loans and advances to customers contributed N107.6 billion, investments N74.5 billion, and loans and advances to banks N4.1 billion.
- However, interest expenses spiked to N50.4 billion from N30.5 billion, resulting in net interest income of N135.8 billion, down from N149.8 billion in the prior year.
On the non-interest side, fees and commissions increased to N83.1 billion from N63.7 billion, while trading revenue of N55.1 billion also contributed to total non-interest income of N130.3 billion.
- Together, net interest and non-interest income lifted total income to N266.1 billion from N203.01 billion, which settled at N263.2 billion after accounting for net impairment charges of N2.8 billion.
Operating expenses spiked to N97.9 billion from N90.04 billion, and after these costs were absorbed, pretax profit rose to N165.3 billion from N116.4 billion.
With an income tax expense of N50.4 billion, profit after tax came in at N114.9 billion, up from N82.06 billion, while earnings per share improved to N7.15 from N5.10.
Balance sheet:
On the balance sheet, total assets rose to N9.7 trillion from N8.6 trillion, with loans and advances at N2.8 trillion remaining the largest asset class.
This was followed by trading assets of N2.3 trillion and cash and cash equivalents of N2.2 trillion, highlighting a broadly diversified asset base.
On the equity side, reserves increased by 15.68% to N993.09 billion, contributing significantly to total equity, which rose to N1.2 trillion from N1.1 trillion.
Deposits and current accounts of N4.6 trillion formed the largest share of the company’s obligations, followed by trading liabilities of N2.02 trillion, bringing total liabilities to N8.4 trillion, up 12.64%.
Market reaction
Shares of the company, trading under the ticker STANBIC, gained 6.56% after the results were published on 24 April 2026, closing at N162.5 per unit.
On a year-to-date basis, the stock is up 62.50% on the Exchange, with over 145 million shares traded, a figure that could rise further as investors digest the quarterly results.
