Stanbic IBTC Holdings reported profit before tax of NGN 303.8 billion for the full year 2024, a 75.7% increase on the prior year, according to results released on 28 March 2025. Profit after tax reached NGN 225.3 billion, up 60% year-on-year, with the gap between pre-tax and post-tax growth reflecting a higher effective tax rate.
Gross earnings rose 78.3% to NGN 823.3 billion, with net interest income more than doubling year-on-year to reach NGN 410.5 billion.
COST EFFICIENCY
The cost-to-income ratio improved to 37.7%. The group's businesses span commercial banking, investment banking, asset management, stockbroking, insurance, and pension fund administration.
BALANCE SHEET
Total assets grew 34% over 2024 to NGN 6.91 trillion.
Stanbic IBTC is a member of Standard Bank Group, whose network spans 20 African markets.