Stanbic IBTC
Holdings, a member of Standard Bank Group, has declared a profit before tax of
N11.7 billion for the financial year ended December 31, 2012, indicating an
increase of 16 per cent over the N10.1 billion recorded in the corresponding
period of 2011.
The results
released to the Nigerian Stock Exchange NSE Monday showed that its profit after
tax rose to N10.2 billion, translating to an increase of 53 per cent over the
prior year’s N6.6 billion.
Gross
earnings, which stood at N63.4 billion in 2011, increased to N91.9 billion in
2012, signifying a growth of 45 per cent. The firm’s total assets increased to
N676.8 billion last year, 22 per cent up from N554.5 billion recorded in 2011.
Commenting on
the results, the Chief Executive Officer, Stanbic IBTC Holdings Plc, Sola
David-Borha, said the performance is indicative of the soundness of the group’s
decision to adopt a holding company structure in line with its strategy to
provide end-to-end financial services and build a franchise capable of
generating sustainable and respectable returns to its stakeholders.
According to
her, the group continued to expand its business on the back of growth in
transactional volumes and activities, money and capital market activities and
loan book.
Meanwhile,
trading at the stock market closed on a positive note in the first day of the
week as the NSE All-Share Index rose by 0.29 per cent to be at 33,090.04.
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