Stanbic IBTC’s half-year profit up 36% as non-interest income boosts earnings

reported for the first half of the year an increase of more than one-third in its after-tax of N30.7 billion compared to a year earlier, according to its audited financial statement issued Tuesday.

Stanbic IBTC Holdings’s share price opened at N28 per unit in Lagos on Wednesday, its weakest level in 52 weeks, but had already appreciated by 8.93 per cent as early at 10:39 WAT in light of the remarkable result, trading close to the maximum 10 per cent upper limit allowed daily. Net interest income leapt 53.1 per cent to N50.4 billion, while non-interest revenue climbed higher to N63 billion.

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