Stanbic IBTC Posts N31 Billion PAT In H1 2022.

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Stanbic IBTC Holdings Plc has posted a profit of N31 billion for the first half of the year 2022; a 36% high from the N23 billion it reported in the first half of last year.

Amid an inflationary period witnessed in the first six months of the year 2022, the company saw its gross earnings rise by 42 billion from N93 billion; in the half year 2021 to reach N135 billion in half year 2022.

Financial report by the company shows that the net interest income stood at N50 billion in the first half of 2022; indicating a jump from the 32 billion in the same period last year.

This is as the net income and net expenses valued at N68bn and N18 billion respectively in the study period; compared to N44 billion and N11 billion in the first half of last year.

While the holding company is known for operating diverse subsidiaries including insurance, banking, and investment advisory; amongst others which contributes to its non-interest revenue.

Nairametrics.

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