April 23, 2021

By Evans Charles InvestAdvocate

Lagos (INVESTADVOCATE)-Stanbic IBTC Bank on Friday said its pretax profit for the first quarter (Q1) Unaudited results for the period ended March 31, 2021 declined -50 percent to N12.14 billion from N24.41 billion posted a year ago.

Post-tax profit of the bank also dipped -45 percent to N11.25 billion from N20.60 billion recorded the same period of 2020.

Still on the negative side, gross earnings of Stanbic IBTC  declined by -26 percent to N46 billion from N61 billion in the previous quarter.

While, net assets grew by +1.3 percent from N379 billion to N384 billion, STANBIC IBTC said in a filing with the Nigerian Exchange Group (NGX).

Shares of the bank at the close of the trading session on the Nigerian bourse appreciated +8.70 to N50 per share from N46 per share gaining N4.00.

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