Stanbic IBTC Grows Profit by N8.3b in Q1 2017

By Modupe Gbadeyanka

The financial results released to the Nigerian Stock Exchange (NSE) on Monday by Stanbic IBTC Holdings Plc revealed that the group recorded an impressive performance in the first three months of 2017 compared with what it achieved in the corresponding period in 2015.

Business Post gathered from the financial statements that the firm’s profit after tax as at March 31, 2017 stood at N16.07 billion compared with N7.8 billion as at March 31, 2016.

Also, its profit before tax in the period under review, according to the audited results, stood at N18.6 billion against N10.2 billion achieved in the corresponding period of 2016.

The company equally recorded a rise in its gross earnings, posting N47 billion in contrast to N34.8 declared a year earlier.