Stanbic IBTC slightly generates 0.7% increase in profit for full-year 2019

Stanbic IBTC Holdings Plc has released its Consolidated and separate annual financial statements for the year ended December 31st, 2019. The financial statements demonstrate slightly positive figures as regards profit generated. The breakdown of the report is shown below:

Gross earnings: The Group generated N233.8 billion in gross earnings as at December 2019, compared to N222.3 billion recorded as at the end of the 12 month period of 2018. This represents a 5.1% increase in gross earnings.

Profit Before Tax: As at the end of the fourth quarter of December 2019, the lender recorded N90.9 billion as profit before tax, up from N88.1 billion recorded at the end of December 2018. This represents an increase of 3.1%.

Profit After Tax: The bank recorded a profit of N75 billion for the 12-month period of 2019, compared to N74.4 billion recorded at the end of the December 2018, representing a 0.7% increase in profit after tax.

Earnings Per Share: Earnings Per Share for Stanbic IBTC stood at 150 kobo for Full-year 2019, down from 200 kobo recorded as at the end of the December 2018.