By InvestAdvocate

Lagos (INVESTADVOCATE)-Stanbic IBTC Holdings said on Wednesday its nine-month pre-tax profit climbed up to N30 billion up 48 percent from N20.2 billion reported in the same quarter of 2013.

Profit after tax also increased 57.3 percent to N25.3 billion from N16 billion reported in the same period of 2013.

Gross earnings grew 14. Percent according to the mid-tier lender as it posted N95 billion in the Q3 of 2014 compared with N83 billion posted in the corresponding period of 2013.

At the end of transactions on Wednesday at the Nigerian bourse, the lender lost 0.91 kobo; share price of Stanbic IBTC opened at N29.92 and closed at N29.01 declining 3.04 percent.

Stanbic IBTC said it raised N15 billion in Tier II capital at the end of the third quarter to increase its capital base to 19.7 percent, above the regulatory requirement of 10 percent.