Stanbic IBTC Holdings reports N69.1bn Q3 pretax profit

Last updated: October 25, 2019 3:19 pm

By Iheanyi Nwachukwu

1 Min Read

Stanbic IBTC

Stanbic IBTC Holdings Plc has released its results for the third-quarter (Q3) ended September 30, 2019.

In the nine months period, the Holdco financial institution grew its gross earnings to N176.16billion compared with N168.80billion in the corresponding Q3 period of 2018.

The group recorded Net Interest Income of N58.67billion in Q3’19, a slight increase from N58.44billion in Q3’18.

Its Profit Before Tax (PBT) in Q3’19 muted to N69.11billion from a high of N70.38billion in the corresponding Q3’18.

Stanbic recorded Profit After Tax (PAT) of N55.55billion down from N59.76billion in Q3’18.

Its basic /diluted earnings per ordinary share (kobo) decreased to 513kobo in Q3’19 from 573kobo in Q3’18.

Iheanyi Nwachukwu

TAGGED:Stanbic IBTC

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ByIheanyi Nwachukwu

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Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).