Stanbic IBTC Holdings Plc has reported a profit after tax of N225.31bn for the year ended 31 December 2024, representing a 60.23 per cent increase compared with the previous year.
The financial services group, a member of the Standard Bank Group, disclosed the results during its 13th Annual General Meeting, where it also presented audited financial statements showing strong growth and operational resilience.
Stanbic IBTC’s net interest income rose by 78.26 per cent to N823.31bn from N461.86bn recorded in 2023. The company posted a profit before tax of N303.80bn. Earnings per share increased to 1,710 kobo.
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 its commitment to delivering long-term value to shareholders
In her remarks, the Chairman of Stanbic IBTC Holdings Plc, Sola David-Borha, 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,” she said.
David-Borha added that the Group continued to broaden its product portfolio, scale technology platforms, and deepen strategic partnerships to meet changing customer needs while maintaining high standards of excellence.
The acting Chief Executive of Stanbic IBTC Holdings, Adekunle Adedeji, attributed the Group’s success to strong financial results, innovation, and a customer-focused culture.
“Beyond the numbers, we strengthened our customer-first mindset, streamlined operations through digital innovation, and embedded sustainability across our business,” he said.
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 youth.
Despite prevailing economic challenges, Stanbic IBTC remains optimistic about scaling impact, accelerating growth, and delivering value for all stakeholders.
The PUNCH reported that Stanbic IBTC Holdings Plc has reported a profit after tax of N82.06bn for the first quarter ended 31 March 2025, representing an impressive growth of 80 per cent compared to N45.64bn recorded in the corresponding period of 2024.