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STANBIC IBTC
news and analysis about stanbic IBTC
Commercial banks spent a total of N799.8 billion on staff salaries in 2023, representing a 44.3% increase when compared to the N554.2 billion spent in the previous year.
Nigerian tier-1 banks raked in N392 billion from electronic business in 2023 as more Nigerians embrace cashless transactions.
Mr Basil Omiyi has retired as Chairman of Stanbic IBTC Holdings after seven years of heading the group.
The company to raise additional equity capital of up to N150 billion via a Rights Issue or offer for subscription, with terms to be determined by the Directors.
Stanbic IBTC has reported a net profit of N140.6 billion in 2023, marking a 74% growth from the N80.7 billion posted in 2022.
Stanbic IBTC, a leading financial service provider in Nigeria and a member of the Standard Bank Group, took a step towards enhancing education and fostering sustainable development in communities across Nigeria.
After facing its first profit-before-tax decline in five years in 2021, Stanbic IBTC rebounded in 2022 and has remained resilient with impressive growth in both the top line and bottom line.
The latest Stanbic IBTC Purchasing Managers' Index™ (PMI®) for Nigeria has shown a modest yet positive improvement in business conditions.
Nigerian leading commercial banks recorded significant FX revaluation gains estimated at a combined gain of about N1.7 trillion in the first half of 2023, a significant increase compared to a combined gain of N66.559 billion in H1 2022.
Nigeria's banking sector has shown remarkable resilience and performance in the first half of 2023, despite the challenging economic and regulatory environment.
Thirteen publicly listed banks in Nigeria spent a sum of N7.2 billion on corporate social responsibility (CSR) in 2022, a notable 70% decrease compared to N23.9 billion incurred in the previous year.
Leading 10 stockbroking firms in the Nigerian stock market facilitated the exchange of 97.725 billion shares, with a total value of N1.231 trillion, during the first seven months of 2023.