Half Year 2021: Stanbic IBTC suffers 50% decline in profit amid slump in revenue.

Stanbic IBTC Holdings Plc released its interim financial results for the half year period ended 30 June, 2021.

• Gross earnings for the period totalled N93.6 billion. (-26.1% YoY)
• Net interest income was N32.9 billion. (-12.4% YoY)
• Net fee and commission income of N41.3 billion. (+18% YoY)
• Operating expenses totalled N55.4 billion. (+14.1% YoY)
• Profit for the period was N22.54 billion. (-50.1% YoY)
• Earnings per share of N1.92 Vs N4.19 YoY.
• An interim dividend of N1 per share was declared.

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