By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian lender, Stanbic IBTC Bank Plc on Thursday said its profit before tax (PBT) in its first quarter report for the period ended March 31, 2014 climbed up 89.3 percent (89.3%) from N4.739 billion in the Q1 of 2013 to N8.969 billion in the review period of 2014.

Similarly, profit after tax (PAT) grew 93% in the Q1 2014 from N3.573 billion in the corresponding period of 2013 to N6.897 billion in 2014.

Gross earnings also climbed up to N30.221 billion from N26.586 billion; indicating a growth of 13.7%.