The board of Stanbic IBTC Holdings Plc, on Monday presented its audited financials for the half-year ended June 30, 2025, showing that gross earnings soared by 35.01% from previous half-year, slower than the 49.05% growth recorded in net profit. From the net profit, the directors recommended an increased interim dividend of N2.50 per share, up from N2.00 each. The dividend is payable to shareholders whose names appear on the register of members as at the close of business on Monday, October 6, 2025, while payment will be made electronically on Tuesday, October 21, 2025. Total liabilities also increased by 17.51%, while total liabilities inched 14.89%.
According to the result, gross earnings rose to N516.634bn from N382.122bn in the corresponding half-year, boosted by the interest income rose to N384.787bn from N246.126bn; while interest expense dropped to N68.773bn from N71.83bn, leaving a net interest income of N316.14bn, which jumped N141.718bn or 81.31% from the previous N174.296bn.
On the non-interest income, fee and commission income grew from N88.703bn to N123.656bn, while fee and commission expense notched to N9.349bn from N5.737bn, amounting to net fee and commission revenue of N117.904bn, down from the previous N129.146bn. Income from the group’s net insurance service result before reinsurance contracts held was N2.431bn, up from the N273m reported in the prior half-year; net insurance expense from reinsurance contracts held dropped to N88m from N330m; while net insurance finance expense soared to N5.111bn, compared to the previous N2.791bn income; just as fair value gain on financial assets fair value through profit and loss stood at N605m, compared to the previous N3.574bn loss for the period. This resulted in net insurance service result before reinsurance contracts held valued at N2.163bn, up from N837m.
This resulted in trading loss of N856m, tumbling from a revenue of N39.652bn in the first half of 2024; just as other income slipped to N6.616bn from N7.365bn.
Income before credit impairment charges, therefore improved to N433.918bn from N303.442bn. Net impairment loss on financial assets for the period under review fell from N26.549bn to N11.104bn; leaving income after credit impairment charges of N422.814bn, as against the previous N276.893bn.
Operating expenses closed at N179.07bn from N129.891bn, boosted by the N125.441bn other operating expenses, which rose from N86.803bn; and the N53.629bn staff costs that grew from N43.088bn.
Profit before tax stood at N243.744bn, compared to the previous N147.002bn, while income tax charge jumped to N70.313bn from N30.645bn; following which profit after tax of N174.431bn, from which the board has recommended a total dividend payout of N39.754bn; compared to the previous net profit of N116.357bn. The net profit also translated to Earnings Per Share of N10.78, up from N8.84 each reported in the prior half year.
According to the report, total assets for the half year stood at N8.122tr, a rise from the N6.912tr reported at the end of December 2024, of which total loans and advances grew marginally from N2.4tr at the end of last year to N2.495bn within the six month period. Total liabilities improved also from N6.241tr to N7.171tr, lifted by deposits and current accounts which grew from N3.273tr to N3.697tr.
