Stanbic IBTC posts N75.035 billion profit at Full Year 2019

Stanbic IBTC Holdings Plc has declared an after-tax profit of N75.035 billion for Full Year 2019, compared to the N74.440 billion recorded in the same period of 2018. The 2019 figure signals a marginal growth of 0.80%.

The full details of the lender’s financials are contained in Stanbic IBTC’s Unaudited Consolidated Annual Financial Statements, published on the website of the Nigerian Stock Exchange (NSE) too much.

Gross Earnings inch up by 5.15% to N233.808 billion at FY2019 from N222.360 billion at FY2018.

Improvement in Gross Earnings was driven by an increase in several components including Interest Income, which rose from N118.382 billion at FY2018 to N120.412 billion at FY2019, implying 1.71% growth.

Non-Interest Revenue leapt by 6%, rising from N102.604 billion at FY2018 to N108.755 billion in the corresponding period of 2019.

Trading Revenue surged from N31.311 billion at FY2018  to N36.332 billion at FY2019, translating to a 16% increase.

Profit Before Tax (PBT) rose from N88.152 billion at FY 2018 to N90.925 billion at FY2019, a 3.14% growth as a matter of fact.

Earnings Per Share (EPS) however declined from N7.04 at FY2018 to N6.92 in the relative period of 2019, translating to a 1.7% drop.

Its outstanding shares currently stand at 10,504,967,358 valued at N435,956,145,357.

Stanbic IBTC Bank is a member of Johannesburg-headquartered Standard Bank, itself Africa’s biggest lender by assets. With over 180 branches all over Nigeria, its operations cover personal and commercial banking.

Stanbic IBTC has maintained a consistent dividend history for long as it has been rewarding its shareholders with cash dividends every year since 2005.

Read also: SAHCO declares N530.2m profit

Beginning from 2013, it has been paying investors dividend twice (interim and final) every year save for 2016 when it paid it once.

It is safe to say therefore that investors should be in for cash reward from the company any moment from now.

Stanbic IBTC currently trades on the floor of the NSE at N41.50.

Earnings Per Share is the profit that each unit of a company’s ordinary shares  yields  during a particular period. It is simply calculated by dividing the Profit After Tax by the company’s total outstanding shares.  Increase in a company’s EPS often reflects an improvement in its bottom-line while a fall, on the other hand, indicates a declining profit.

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