Close button
The Guardian
Email YouTube Facebook Instagram Twitter WhatsApp

Stanbic IBTC records 78 per cent rise in PBT in nine months


Stanbic IBTC Bank

• Bank unveils framework to support clients, others

Stanbic IBTC Holdings Plc has announced its nine months results for the period ended September 30, 2017, posting a 77.7 percent increase in Profit Before Tax (PBT) to N45.650 billion, against N25.688 billion posted in the corresponding period of 2016.

Similarly, profit after tax stood at N37.672 billion representing a growth of 86.9 percent in comparison to N20.152 billion recorded in 2016. Gross earnings stood at N154.220 billion, an increase of 34.5 percent over the N114.622 billion achieved in the corresponding period of last year.

Total assets rose to N1.417 trillion from N1.053 trillion in December 2016 while net interest income grew by 61 percent to N62.947 billion compared to N39.089 billion in 2016. Non-interest revenue shot up to N64.280 billion, a 22 per cent increase from N52.895 billion in 2016


The performance follows a similar path recorded during the first half of the year ended 30 June 2017, as gross earnings increased by 36.28 percent to N97.198 billion, from the N71.320 billion recorded in the corresponding period of 2016.

Profit before tax increased by 86 percent to N29.169 billion, from N15.682 billion last year, while profit after tax at N24.112 billion was a growth of 113 percent compared to N11.317 billion in the corresponding period of 2016. Total assets went up by 21 percent to N1.273 trillion from N1.053 trillion in December 2016.

The Chief Executive, Stanbic IBTC Holdings Plc, Yinka Sanni said: “Stanbic IBTC’s progress over the first half year was impressive in many areas and in particular, we are delighted with our ranking following the latest release of KPMG Banking Industry Customer Satisfaction Survey, which showed our retail banking business improving in ranking from the 4th position to the 3rd position and our corporate banking business improving from the 10th position to the 4th position. This is well-aligned with our strategy to drive customer centricity.”

He added, “The group will continue to explore opportunities to grow our business and market share responsibly through the adoption of an appropriate risk appetite and excellent service delivery.”The Group maintained adequate capital to support its business and drive business growth in H1 2017.

The group’s total capital adequacy ratio at the close of the period was 22.9 percent (Bank: 20.2 percent) and Tier 1 capital adequacy ratio of 19.2 percent (Bank: 16.1 percent).

These ratios, according to the bank, are well above the 10 percent minimum statutory requirement. The group’s liquidity ratio closed at 100.24 percent, while the Bank’s liquidity ratio was at 90.37 percent at the end of H1 2017. This ratio is significantly higher than the 30 percent regulatory minimum.

On his projections for the last quarter, Sanni expressed optimism that the bank would sustain the positive performance for the rest of the year 2017. He identified areas of focus to include: cost efficiency, improving risk asset quality, improving low-cost deposits and further strengthening of corporate governance.

Meanwhile, Stanbic IBTC has unveiled a three-pronged framework that underscores its approach to sustainability and support for clientele, employees and the society at large.The framework, tagged Social, Economic and Environmental (SEE), according to the organization, is designed to support the wellbeing of communities by delivering value through the products and services that it provides.With Africa as its home, the company said SEE aims at improving life for everyone on the continent.

“We not only want to achieve financial outcomes, but we also want to fulfil our purpose of driving Africa’s growth,” Sanni said.Via its social value offering, the organization creates value for society, both internally for its employees and externally for other stakeholders, clients, governments and the rest of society.

The economic value seeks to drive inclusive economic growth in Africa through creating social and environmental value, which also leads to more innovative and profitable ways of doing business and supporting African economic integration and development.

The third element, environmental value, recognizes that the success of the organisation depends on creating value for the environment through responsible lending and not investing in businesses that have a negative impact on the environment.

The overall aim, according to Sanni, is to lead by example in promoting business activities and operations that leave a positive mark on the immediate and global environment. “This we do by encouraging our colleagues and stakeholders to get involved,” he said.As the most prized asset of the organization, the wellbeing of employees is top priority to ensure delivery of promises to clients and other stakeholders.

The group has, accordingly, invested in a number of wellness programmes to encourage healthy lifestyles among staff. These initiatives include the weekly on-site aerobics in four head office locations across the group.


Also, physical activities are encouraged in all offices and branches nationwide; enabling group walks and daily exercise-at-the-desk routine for all employees. There is also the no-lift-day once a week across the organization to encourage physical exercise.

“As a responsible corporate citizen, we will continue to carry out our business operations in ways that minimise any negative social, economic and environmental impact.

“We will continue to review our operational processes and engage our key stakeholders to achieve as much involvement in our sustainability initiatives as possible, for the benefit of the communities we operate in,” he added.

In this article:
Stanbic IBTC
Receive News Alerts on Whatsapp: +2348136370421

No comments yet