Stanbic IBTC grows net profit by N16.66bn, electronic transaction hits N958m

Stanbic IBTC recorded an 85 per cent increase in its profit after tax and 66.8 per cent growth in electronic banking in the first quarter (Q1) of 2023.

In its Q1 consolidated interim financial statements released on Thursday, Stanbic IBTC posted N36.26 billion net profit for the period.

Stanbic IBTC grew its profit after tax by N16.66 billion, as Ripples Nigeria learnt that the company recorded N19.59 billion net profit in Q1 2022.

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