Interest income drives Stanbic IBTC’s profit to N173.4bn

Stanbic IBTC Holdings Plc has announced a profit after tax of N173.4bn for the half year ended June 30, 2025, representing a 49 per cent increase from the N116.4bn recorded in the corresponding period of 2024.

The lender’s unaudited financial statement released to the Nigerian Exchange Limited on Monday showed that the profit growth was largely driven by interest income and improved fee and commission revenue.

Interest income grew 56 per cent to N384.8bn in the first six months of 2025 compared with N246.1bn in the same period of 2024. This lifted net interest income to N316bn, up from N174.3bn a year earlier.

Fee and commission revenue also contributed positively, rising to N123.7bn in June 2025 from N88.7bn in June 2024, while net fee and commission income climbed to N114.3bn from N83bn.

Similarly, other income rose to N6.6bn in the period under review, though non-interest revenue declined slightly to N117.9bn compared with N129.1bn in the same period of last year.

The bank posted a profit before tax of N243.7bn for the half year, representing a 66 per cent increase from N147bn in June 2024.

Earnings per share stood at N10.78, compared with N8.84 reported in the prior period.

On the balance sheet side, total assets rose 17.5 per cent to N8.12tn as of June 30, 2025, compared with N6.91tn at the end of December 2024. Equity attributable to shareholders also grew to N941.7bn from N661.9bn, reflecting increased retained earnings and reserves.