Stanbic IBTC Bank Plc has announced a Profit After Tax (PAT) of N36.25 billion for half year 2019, a drop of 16 percent from what the bank declared in half year 2018.
The report as released to the Nigerian Stock Exchange (NSE) today revealed that the bank had a 90 percent drop in Impairment Reversal from N5.5 billion to N557 million with a 9 percent rise in Interest Expense and these majorly accounted for the 16 percent drop in PAT.
Other retails of Stanbic IBTC H1 2019 result:
- Gross Earning up by 6% from N114bn to N117bn in H1 2019
- Net Interest Income down by 2% from N40bn to 39bn in H1 2019
- Net Fee and Commission down by 2% also from N37bn to N36bn
- Trading Revenue up by 10% from N16bn to N18bn
- Operating Expenses up by 2% from N49bn to N50bn
- Profit Before Tax (PBT) down by 14% from N51bn to N45bn in H1 2019
- PAT down by 16% from N43bn to N36bn
For the Balance Sheet size of Stanbic IBTC Bank. Total Asset dropped 3 percent from N1.66 trillion to N1.62 trillion while LOans to Customers grew by 5 percent from N432 billion to N455 billion.
Customers Deposit however dropped by 14 percent from N808 billion to N694 billion in H1 2019. Owners Equity however grew by 10 percent from N239 billion to N264 billion and earning per share reduced from 416 kobo in half year 2018 to 342 kobo in half year 2019
The bank has declared an interim dividend of N1 per 50k ordinary share held as at e close of business on Wednesday 04 September 2019.
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