Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has released its audited financial results for the first half of 2023, showcasing an increase in profitability and key financial metrics.
In the first half of 2023, Stanbic IBTC recorded Profit Before Tax (PBT) of ₦82.99 billion, up 108% from the PBT recorded in the same period for 2022. Profit After Tax (PAT) of ₦67.92 billion was achieved in the first half of 2023, up 121% for the same period in 2022.
Driven by robust growth across its revenue streams, the company’s net interest income rose by 44%, amounting to ₦72.68 billion. Additionally, non-interest revenue surged by an impressive 57%, reaching ₦98.62 billion.
