Stanbic IBTC after-tax profit rises by 52% on corporate banking growth
Stanbic IBTC Holdings Plc recorded a 52 percent rise in after-tax profit for the nine months ended September 30, 2025, supported by sustained growth in its corporate banking division, improved net interest income, and a disciplined cost management strategy.
According to the unaudited interim financial statements released on October 24, 2025, group profit after tax rose to N278.5 billion, up from N182.9 billion in the corresponding period of 2024. Earnings per share during the period rose to N1,731 kobo from N1,390 kobo.
Stanbic IBTC’s Corporate and Investment Banking segment remained the main driver of profitability, with total income soaring to N408.5 billion from N248.0 billion in 9M of 2024. The segment’s net interest income grew 148 percent, reflecting increased lending to blue-chip corporates and government entities, as well as strong performance in global markets and trade finance.
The Business and Commercial Banking (BCB) division contributed N93.1 billion in income, while Insurance and Asset Management delivered N112.7 billion, supported by growing assets under management and expanding insurance penetration, and personal banking with N47 billion in total income.
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The group’s total income climbed 40.6 percent year-on-year to N655.2 billion from N465.9 billion, buoyed by robust corporate banking activity and higher interest yields.
Net interest income jumped 80.6 percent to N454.6 billion in 9M’25, compared to N251.9 billion, reflecting higher yields on loans and investments amid an elevated interest rate environment.
Non-interest revenue declined slightly to N200.6 billion from N214.0 billion, as lower trading gains offset steady fee and commission growth. Fee and commission income rose 41 percent to N190.5 billion, supported by expanding transaction volumes and digital payment adoption.
Credit impairment charges dropped sharply to N11.6 billion from N59.4 billion, highlighting improved asset quality and lower non-performing loan ratios. Consequently, profit before tax rose 77 percent to N393.8 billion, from N222.9 billion, while income tax rose to N115.4 billion, compared to N40.1 billion the previous year.
Stanbic IBTC maintained a solid balance sheet footing, with total assets rising 21 percent to N8.38 trillion as of September 2025, from N6.91 trillion at the end of December 2024.
Loans and advances expanded to N2.62 trillion from N2.40 trillion, while customer deposits surged to N4.18 trillion from N3.01 trillion, supported by strong term and current account growth.
Financial investments grew to N1.36 trillion from N1.09 trillion, reflecting continued diversification of earning assets. Shareholders’ funds strengthened to N1.06 trillion from N670.6 billion, driven by retained earnings and a N145.7 billion capital injection through a bonus issue.
The group’s liability base rose to N7.32 trillion from N6.24 trillion, largely on account of higher customer deposits and increased trading liabilities. Borrowings moderated slightly to N395.5 billion from N417.6 billion, while debt securities issued rose to N180.9 billion from N112.7 billion, indicating continued reliance on capital market funding.
Operating cash flows were negatively impacted by changes in working capital, resulting in a net outflow of N515.9 billion compared with an inflow of N1.84 trillion in 9M’2024. Investing activities recorded an outflow of N301.4 billion due to capital expenditure and increased financial investments, while financing activities generated N150.4 billion, driven by new share issuance and debt securities, despite dividend payments of N41.5 billion.
The group ended the period with cash and cash equivalents of N1.21 trillion, down from N1.92 trillion in the previous year, reflecting liquidity repositioning and changes in funding mix.
