Stanbic IBTC Holdings Plc has posted a profit after tax of ₦173.43 billion for the half year ended June 30, 2025, representing a 49% increase compared to ₦116.36 billion recorded in the same period of 2024.
The performance was underpinned by strong net interest income growth, improved fee and commission revenue, and balance sheet expansion, although trading income and insurance operations showed weaknesses.
Earnings Performance
-
Net interest income rose sharply to ₦316.01 billion in H1 2025 from ₦174.30 billion in H1 2024, supported by higher yields on loans and investments.
-
Non-interest revenue declined to ₦117.90 billion, compared to ₦129.15 billion a year earlier, as trading income dropped to a ₦856 million loss from ₦39.65 billion profit in H1 2024.
-
Net fee and commission income increased to ₦114.31 billion (H1 2024: ₦82.97 billion), underscoring resilience in transactional and asset management businesses.
-
Operating expenses rose by 38% to ₦179.07 billion, driven mainly by staff costs of ₦53.63 billion and other operating expenses of ₦125.44 billion.
-
After a tax charge of ₦70.31 billion, profit attributable to equity holders stood at ₦171.37 billion, up from ₦114.48 billion in H1 2024.
-
Basic earnings per share improved to ₦10.78 (1,078 kobo) from ₦8.84 (884 kobo).
Balance Sheet Strength
-
Total assets expanded to ₦8.12 trillion as of June 30, 2025, from ₦6.91 trillion at year-end 2024.
-
Loans and advances stood at ₦2.50 trillion, slightly higher than ₦2.40 trillion at year-end 2024.
-
Customer deposits rose to ₦3.43 trillion (FY 2024: ₦3.01 trillion), reflecting strong liquidity inflows.
-
Equity attributable to shareholders surged to ₦941.73 billion, compared to ₦661.89 billion as at December 2024, driven by retained earnings and stronger capital buffers.
Sector Implications
Stanbic’s H1 2025 performance highlights the banking sector’s benefit from higher interest rate environments, though declining trading income signals volatility in market operations.
The Group’s ability to grow deposits and expand its balance sheet above ₦8 trillion demonstrates resilience despite macroeconomic headwinds.
Analysts, however, warn that rising operating costs and sustained pressure on non-interest revenue could weigh on margins in the second half of the year.
Key Metrics:
-
Profit After Tax: ₦173.43bn (H1 2024: ₦116.36bn)
-
Total Assets: ₦8.12trn (FY 2024: ₦6.91trn)
-
Customer Deposits: ₦3.43trn (FY 2024: ₦3.01trn)
-
Loans & Advances: ₦2.50trn (FY 2024: ₦2.40trn)
-
Shareholders’ Funds: ₦941.73bn (FY 2024: ₦661.89bn)
-
EPS: ₦10.78 (H1 2024: ₦8.84)
