Stanbic IBTC Holdings PAT hits ₦225.31 billion up by 60.23% year-on-year

Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, has announced an increase in its Profit After Tax (PAT) to N225.31 billion for the full year 2024.

This represents an increase of 60.23% year-on-year from the 2023 result.

Similarly, profit before tax also rose to ₦303.80 billion.

According to the financial institution’s audited financial statements for the year ended 31 December 2024, Stanbic IBTC recorded a net interest income of ₦823.31 billion – an increase of 78.26% from ₦461.86 billion in 2023.

Earnings per share also rose to 1,710 kobo, while the Board proposed a final dividend of 300 kobo per ordinary share, bringing the total dividend for the full year 2024 to 500 kobo; reaffirming the Group’s commitment to delivering long-term value to shareholders.

Speaking at its recently held 13th Annual General Meeting (AGM) where the results was presented, the AGM highlighted a year marked by strong financial growth, operational resilience, and continued execution of the Group’s long-term strategic priorities.

In her remarks, Sola David-Borha, Chairman of Stanbic IBTC Holdings PLC, praised the Group’s ability to navigate economic headwinds while advancing its strategic agenda. “We are proud to report strong progress across our key focus areas as Nigeria’s leading end-to-end financial services provider. For the fourth consecutive year, our SME and retail banking businesses ranked first in the 2024 KPMG Nigeria Banking Industry Customer Experience Survey – a testament to our client-centric approach and unwavering commitment to service excellence.”

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She added that the Group continued to broaden its product portfolio, scale its technology platforms, and deepen strategic partnerships. “We are continuously evolving to meet our customers’ changing needs while maintaining the standards of excellence that define Stanbic IBTC,” she said.

Adekunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings, attributed the Group’s achievements to strong financial results, a cultural fortification driven by innovation and a relentless focus on customers. “Beyond the numbers, we strengthened our customer-first mindset, streamlined operations through digital innovation, and embedded sustainability across our business.”

Looking ahead, Stanbic IBTC reaffirmed its commitment to supporting Nigeria’s economic development by expanding access to credit, promoting financial inclusion, and empowering entrepreneurs and the youth . The Group will continue to align with the Sustainable Development Goals (SDGs), integrating environmental, social, and governance (ESG) principles into its business strategy.

Despite prevailing economic challenges, the Group remains optimistic and committed to scaling impact, accelerating growth, and delivering value for all stakeholders. Through its focus on operational excellence, customer experience, and digital transformation, Stanbic IBTC continues to cement its leadership in Nigeria’s financial services sector.

By: Babajide Okeowo

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