Banking

Stanbic IBTC Grows Profit by 59% in Nine Months

Published

8 years ago

02/11/2018

Stanbic IBTC Yinka Sanni Euromoney Awards

By Dipo Olowookere

A member of Standard Bank Group, Stanbic IBTC Holdings Plc, has announced its nine months unaudited group results for the period ended September 30, 2018.

In the financial statements released by the firm, it reported a profit after tax of N59.76 billion, representing an increase of 59 percent for the corresponding period in 2017.

This was as the profit before tax jumped by 54 percent to N70.38 billion from N45.65 billion exactly 12 months ago.

Highlights of the results showed that the gross earnings rose by 9 percent to N168.80 billion from N154.22 billion in the corresponding period of last year, while the net interest income went down to N58.44 billion from N62.95 billion.

However, the non-interest revenue went up by 24 percent to N79.97 billion from N64.28 billion, with the total income increasing to N138.42 billion from N127.23 billion.

For the cost to income ratio, it increased to 52.1 percent from 48.1 percent, while the annualised return on average equity grew by 39.0 percent, with the annualised return on average assets improving by 5.5 percent.

A look at the balance sheet showed that the total assets went up by 11 percent to N1.54 trillion from N1.39 trillion recorded in December 2017.

Also, the gross loans & advances to customers increased by 14 percent to N462.32 billion versus N403.85 billion in December 2017, while the non-performing loans decreased by 39 percent to N21.6 billion from N35.3 billion in December 2017.

The company also said the non-performing loans to total loans ratio dropped to 4.7 percent from 8.6 percent in December 2017, while the customer deposits slightly went down by 2 percent to N738.36 billion from N753.64 billion in December 2017, with the deposit mix improving to 57.0 percent from 49.2 percent in December 2017.

The company disclosed that its capital adequacy levels are significantly above the regulatory limit of 10 percent.

The Group’s total capital adequacy ratio closed the period at 24.5 percent (Bank: 21.4 percent) and Tier 1 capital adequacy ratio of 20.7 percent (Bank: 17.2 percent).

“We remain well positioned and sufficiently capitalized to support future growth ambitions. The Group’s liquidity ratio closed at 90.3 percent, while the bank’s liquidity ratio was at 77.7 percent at the end of September 2018. This ratio is significantly higher than the 30 percent regulatory minimum,” the firm said.

Speaking on the Group’s performance, Chief Executive of Stanbic IBTC Holdings, Mr Yinka Sanni, said, “Our business continued to thrive in the third quarter of 2018 amid industry-wide headwinds, bearish capital market aided by emerging market sell-off and attendant repatriation of foreign capital. Our performance shows steady growth in our balance sheet position, sustained improvement in revenue from fees and commissions and trading lines, though at a slower pace against a backdrop of reduced financial market volumes / trades and reduction in fee income rate particularly for our Wealth business due to the implementation of the multi-fund structure. Nonetheless, we have seen significant improvement in our risk asset portfolio with gross loans and advances up by 14% year-to-date while non-performing loans (“NPL”) portfolio decreased by 39%, thereby improving our NPL ratio to 4.7% from 8.6% in December 2017.

“The decrease in non-performing loans is on account of the declassification of some loans following positive outcome on recovery and rehabilitation efforts. This is coupled with strategic decision to write-off some delinquent loans. The 2% decrease in total customer deposits is due to the competitive yield environment and continued drive to reduce cost of funds which resulted in a 25% decrease in expensive term deposits”.

“We are focused on delivering end-to-end financial solutions to our customers through our enhanced digital platforms as significant investment is being made to achieve this stride. Volume of transactions carried out on our digital platform continues to increase and we are encouraged by the robust transactional volumes from the various platforms. The drop in our net interest income is due to lower yield on government securities compared to the same period in 2017 but the sustained growth in loans and advances will douse the impact on net interest income line in the near term. We remain on track to achieve our guidance by the end of the year. Our focus for the rest of the year is to maintain the momentum in improving the quality of the asset book and to further grow our non-interest revenue line.”

Banking

Access Holdings Earnings Capacity Remains Strong—Aig-Imoukhuede

Published

3 days ago

13/06/2026

Aduragbemi Omiyale

By Aduragbemi Omiyale

The chairman of Access Holdings Plc, Mr Aigboje Aig-Imoukhuede, has reaffirmed the organisation’s long-term commitment to shareholders, expressing confidence in the company’s strategic positioning, which he said is underpinned by disciplined execution, a diversified business model, a strengthened capital base, and a clear focus on sustainable value creation.

Speaking at the 4th Annual General Meeting (AGM) of the firm on Wednesday, he explained that the temporary suspension of dividend distributions was a consequence of regulatory compliance requirements rather than any deterioration in the group’s financial performance.

Mr Aig-Imoukhuede reaffirmed that the financial institution’s earnings capacity remains strong and that the board’s position reflects adherence to supervisory expectations and prudent capital management principles.

He assured shareholders of the board’s commitment to resuming dividend payments as soon as the relevant regulatory conditions are satisfied, noting that, “Our approach is clear: capital retained today must translate into greater value tomorrow and sustainable returns for our shareholders.”

The Chairman reiterated the strategic imperative underpinning the company’s next phase of growth, saying, “Our strategy, From Scale to Value, reflects the natural evolution of our journey. Scale created opportunity; value creation is how we fully realise it.”

He noted that while the organisation continues to generate strong returns, ensuring that earnings per share consistently exceed the cost of capital remains central to unlocking sustainable shareholder value.

The retired banker also acknowledged the significant unrealised value embedded within the firm’s international subsidiaries and reiterated management’s focus on improving market recognition of that intrinsic value over time.

Commenting on the financial performance of the group in 2025, he said Access Holdings accelerated provisions on legacy and regulatory forbearance credit exposures, resulting in elevated impairment charges.

He explained that the group consciously prioritised balance sheet strength and long-term resilience over short-term earnings optimisation.

“Periods of economic uncertainty often reveal more about an institution than periods of uninterrupted growth. Our focus remains on building a business that is not only growing, but improving in the quality, resilience, and sustainability of its earnings,” he stated.

Last year, the financial services organisation delivered pre-tax profit of N1.007 trillion, underscoring the strength of its diversified platform and expanding earnings base across key markets. Total assets increased to N51.56 trillion, while customer deposits grew strongly, reflecting sustained franchise momentum and deepening customer trust.

Banking

HabariPay Unveils ‘HabariPay Impact Report 2025’

Published

4 days ago

11/06/2026

Modupe Gbadeyanka

By Modupe Gbadeyanka

A new report highlighting the transformation from a newly established fintech venture into one of Nigeria’s leading payment infrastructure providers has been launched by HabariPay Limited.

The report, known as the HabariPay Impact Report 2025, provides stakeholders with a comprehensive evolution, innovation journey, business performance, and impact of the fintech subsidiary of Guaranty Trust Holding Company (GTCO) Plc on the digital payments landscape.

The company’s contributions to enabling digital commerce, supporting businesses, strengthening payment infrastructure, and expanding financial access through technology-driven solutions were also captured in the piece.

The HabariPay Impact Report 2025 also highlights the organisation’s strong financial and operational performance, the growth of the Squad platform, and the development of infrastructure that powers payment acceptance, switching, transfers, merchant services, and value-added solutions.

The publication further explores the role of innovation, talent development, and ecosystem partnerships in driving the company’s success.

It showcases HabariPay’s investments in innovation through initiatives such as the Take on Squad Hackathon and the Squad Hackademy, both of which are helping to develop future technology talent and accelerate the creation of practical solutions to real-world challenges.

“As a technology-driven company, we believe that impact extends beyond financial performance. It is reflected in the businesses we enable, the merchants we support, the infrastructure we build, and the opportunities we create for the next generation of innovators.

“The HabariPay Impact Report 2025 captures this journey and demonstrates our commitment to creating sustainable value for customers, partners, and the broader economy,” the Managing Director of HabariPay, Ms Eduofon Japhet, said.

“The HabariPay Impact Report 2025 represents more than a reflection on our achievements; it is a testament to the deliberate investments we have made in building sustainable payment infrastructure, empowering businesses, fostering innovation, and creating long-term value for our stakeholders.

“As we look ahead, we remain committed to expanding our capabilities, deepening our impact, and shaping the future of digital payments through technology-driven solutions that are secure, scalable, and inclusive,” she added.

Banking

Foreign Exhibitors in Nigeria as Ecobank Adire Lagos Kicks Off June 11

Published

5 days ago

10/06/2026

Modupe Gbadeyanka

By Modupe Gbadeyanka

Some top foreign exhibitors participating in the much-anticipated Ecobank Adire Lagos Experience commencing on Thursday, June 11, 2026, are already in Nigeria.

The four-day event, closing on June 14, will witness participation from notable African fashion brands from Ghana, Sierra Leone, Senegal and the Benin Republic.

Among the international exhibitors confirmed for this year’s edition are Creative Hub Africa and Shades of Class from Sierra Leone, Drame Khadidatou from Senegal, Tampoori from Ghana, and Naylah Collection from the Republic of Benin. Their participation highlights the growing continental appeal of the Ecobank Adire Lagos Experience as a platform for cultural exchange, business collaboration and market access across Africa.

More than 100 exhibitors and vendors, including leading Nigerian brands such as Obida Design Associates, This Is Us, Imani Kids, Ashabi Fads, E25Dresses, Miné by Ejiro Amos Tafiri, Buss Fabrics Store, Aina Aladire and many others, will participate, showcasing the richness of African craftsmanship, innovation and entrepreneurship.

It was gathered that organisers are putting finishing touches to the venue of the exhibition, the prestigious Ecobank Pan African Centre (EPAC) on Victoria Island, Lagos.

All necessary arrangements to ensure a seamless, secure and memorable experience for exhibitors and attendees are being put in place by the bank, further underscoring its commitment to promoting African creativity, entrepreneurship and intra-African trade.

The Head of SMEs, Partnerships and Collaborations at Ecobank Nigeria, Mrs Omoboye Odu, said attendees can look forward to a vibrant showcase of fashion, craftsmanship, art, music, culture and entrepreneurship, with participants drawn from Nigeria and several other African countries.

“We are fully prepared and excited to welcome guests from across Nigeria and the African continent to another edition of the Ecobank Adire Lagos Experience. From exhibition spaces and cultural showcases to networking opportunities and customer engagement activities, every necessary arrangement has been put in place to ensure a seamless and rewarding experience for all attendees,” she stated.

“The Ecobank Adire Lagos Experience continues to evolve as a unique platform that connects creatives, entrepreneurs and consumers from across Africa. Attendees can look forward to exceptional products, interactive sessions, entertainment, cultural exhibitions and valuable opportunities to build relationships, explore new markets and expand their businesses,” Mrs Odu added.

Beyond the exhibition, participants will have opportunities to network, explore business partnerships, discover unique products and experience the diversity and vibrancy of African culture.

The event is open to the public, and visitors can look forward to an immersive experience that seamlessly blends tradition, innovation, fashion, enterprise and entertainment in a grand celebration of Africa’s creative economy.

Over the years, the Ecobank Adire Lagos Experience has grown into one of Nigeria’s foremost platforms for promoting indigenous textile production, supporting small and medium-sized enterprises, and showcasing the ingenuity of African creatives.

The programme has also played a significant role in expanding market access for businesses while preserving and celebrating Africa’s rich cultural heritage.