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Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, has announced an increase in profit after tax (PAT) to N225.31 billion for a full year 2024.
This is an increase of 60.23% year-to-year from the 2023 results.
Likewise, profit before tax also rose to ₦ 303.80 billion.
According to the financial statements audited financial institutions for the year ended December 31, 2024, STANBIC IBTC recorded net interest income ₦ 823.31 billion – an increase of 78.26% of ₦ 461.86 billion in 2023.
Income per share also rose to 1,710 kobo, while the council proposed a dividend of 300 kobo at the usual share, so that the total dividend for a full year of 2024 to 500 kobo; Re -emphasize the group’s commitment to provide long -term value to shareholders.
Speaking at the 13th Annual General Meeting (GMS) which was recently held where the results were presented, the GMS highlighted one year marked by strong financial growth, operational resilience, and continued implementation of the group’s long-term strategic priorities.
In his remarks, Sola David-Borha, Chairperson of Stanbic IBTC Holdings PLC, praised the group’s ability to navigate the economic wind while advancing its strategic agenda. “We are proud to report strong progress in all of our main focus areas as financial service providers to the leading end. For the fourth year in a row, our UKM and retail banking business is ranked first in the customer experience survey of our Nigeria KPMG banking industry and unwavering commitment for service excellence.
Also read: Stanbic IBTC PMI revealed an increase in business activities for the first time in six months
He added that the group continued to expand its product portfolio, the technology platform scale, and deepened strategic partnerships. “We continue to develop to meet the needs of our customers while maintaining the standard of excellence that defines the IBTC STANBIC,” he said.
Adekunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings, connects group achievements with strong financial results, cultural fortification driven by innovation and endless focus on customers. “Outside of numbers, we strengthen the first mindset of our customers, lean operations through digital innovation, and sustainability embedded throughout our business.”
In the future, Stanbic IBTC reiterated its commitment to support Nigerian economic development by expanding access to credit, promoting financial inclusion, and empowering entrepreneurs and youth. This group will continue to harmonize with the Sustainable Development Objectives (SDG), integrate the principles of the environment, social, and governance (ESG) into its business strategy.
Although there are economic challenges that apply, this group remains optimistic and is committed to impact scale, accelerating growth, and provides value for all stakeholders. Through its focus on operational excellence, customer experience, and digital transformation, STANBIC IBTC continues to strengthen its leadership in the Nigerian financial services sector.
By: Babajide Okeowo
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