By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Stanbic IBTC Holding Company said on Thursday its first quarter (Q1) pretax profit dipped 46.3 percent to N4.81 billion from N8.96 billion recorded in the Q1 of 2014.

Also profit after tax (PAT) decreased 38.9 percent to N4.21 billion from N6.89 billion recorded the same period of last year.

However, gross earnings of Stanbic climbed up to N33.73 billion for the period to end-March from N30.22 billion a year ago, the holdco said in a filing with the Nigerian Stock Exchange (NSE).