Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has posted Profit After Tax (PAT) of N16.1 billion in its first quarter operations, against N7.8 billion achieved in the corresponding period in 2016.

Specifically, the bank’s performance for the first quarter ended March 2016, showed 106 per cent rise in profit, from N7.8 billion to N16.1 billion while pre-tax profit stood at N18.6 billion, an increase of 78 per cent over the N10.2 billion recorded in the corresponding period of 2016.

The bank attributed the improved performance to sustained focus on the bank’s objectives, as well as heavy investment made on digital channels upgrade for enhanced operations.



Gross earnings stood at N47.0 billion, representing an increase of 35 percent over the N34.8 billion recorded in the comparable period of last year.Similarly, total assets went up 11 per cent to N1.2 trillion from N1.1 trillion in December 2016.

The Chief Executive of the bank, Yinka Sanni, said: “I am delighted to announce another strong performance for the first quarter of 2017 following the recent release of our FY 2016 results. Stanbic IBTC Group achieved significant growth in profit after tax by over 100 per cent, despite the challenging trading environment which was characterised by challenges with FX liquidity, difficult credit environment and an increasing cost of operations.”
He added: “We remain positive that economic activities will improve as the Nigerian economy is beginning to show signs of positive outlook due to an increase in the supply of foreign exchange to both retail and corporate users and decreasing headline inflation.
According to him, “As we focus on driving our objective to be the leading end-to-end financial solutions provider in Nigeria, we will continue to leverage on our upgraded digital channels and our membership of the Standard Bank Group.”
He explained that the group’s liquidity ratio closed at 94.35 percent, while the bank’s liquidity ratio was at 83.99 percent at the end of Q1 2017. These ratios are significantly higher than the 30 percent regulatory minimum.
He added that the group’s capital adequacy ratio remained above the minimum statutory requirement of 10 percent, with total capital adequacy ratio of 21.69 percent.
more at http://www.akelicious.com/2017/04/stanbic-ibtc-posts-n1611b-pat-in-q1.html

Praise the Lord!

And eco banko is recording losses

ftc sha well done,keep the ministry moving

augustineeze234:
ftc sha well done,keep the ministry moving

Try your luck next time with 4G LTE

Good, they are coming up

Gtbank

Get your fully approved Google Adsense Account for Naija, US and UK. Whatsapp me if interested
https://www.nairaland.com/3765204/usa-uk-fully-approved-non

Make them re-enable our cards for international transaction abeg

Meanwhile some people are still seated complaining about recession

what is a stanbic

Na wa o, where this bank they get money.

Dear Stanbic, how long will it take you guys to issue me my ATM. Its been 4 weeks but I enjoy your calls and updates esp the female ones

they service big clients you don't know of plus the South African milkers over here use them. Most of the telecom guys I know, use them

policy12:

Na wa o, where this bank they get money.

policy12:

Na wa o, where this bank they get money.

pensions na. When u manage over 4 trillion nd get 1.5% management fee

ednut1:
pensions na. When u manage over 4 trillion nd get 1.5% management fee

that alone is 60 billion

gift01:
they service big clients you don't know of plus the South African milkers over here use them. Most of the telecom guys I know, use them

They are digitally strong. One of the best in E-transaction.

gift01:
Dear Stanbic, how long will it take you guys to issue me my ATM. Its been 4 weeks but I enjoy your calls and updates esp the female ones

Puff puff profit

DollarAngel:
That's my bank, I love them the Only bank that charges #75 for transfer to other banks instead of #105 or #110, but them too dey sack their stafffs anyhow ever since Macaulay took over as Island regional head

I disagree with you about the transfers charges..... I also bank with them.

obinoral1179:
I disagree with you about the transfers charges..... I also bank with them.

Internet transfer?

gift01:
Dear Stanbic, how long will it take you guys to issue me my ATM. Its been 4 weeks but I enjoy your calls and updates esp the female ones

lol..

Inlakssolar:

eeyahh..
You work there?
Thank God you have not been sacked o
And you will not be sacked o, amin.

Thanks but I resigned last year March

Let's be more

ednut1:
pensions na. When u manage over 4 trillion nd get 1.5% management fee

No be small thing sir ednut1

gift01:
Dear Stanbic, how long will it take you guys to issue me my ATM. Its been 4 weeks but I enjoy your calls and updates esp the female ones

You can get instant cards at some selected branches, and for the others it takes like 3 working days within Lagos and 5 outside Lagos.
You may therefore have to confirm if there's any issue with your request.