By Seun Ibiyemi
Stanbic IBTC Holdings Plc has announced a profit after tax of ₦173.43 billion for the first half of 2025, marking a significant 49% increase compared to the ₦116.36 billion recorded in the same period of 2024.
This strong performance was primarily fueled by a surge in net interest income and higher fees and commissions, supported by robust balance sheet expansion.
However, the company’s non-interest revenue was negatively impacted by a trading loss and reduced earnings from insurance operations.
According to its financial statements, net interest income jumped to ₦316.01 billion from ₦174.30 billion in the previous year, a reflection of higher yields on loans and investments.
Similarly, fee and commission income rose to ₦114.31 billion, up from ₦82.97 billion, demonstrating resilience in its asset management and transactional businesses.
Despite these gains, non-interest revenue fell to ₦117.90 billion from ₦129.15 billion, largely due to a trading loss of ₦856 million, a sharp contrast to the ₦39.65 billion profit reported in the first half of 2024.
Operating expenses also climbed by 38% to ₦179.07 billion, mainly driven by increased staff costs and other operational expenditures. After a tax charge of ₦70.31 billion, the profit attributable to shareholders stood at ₦171.37 billion, up from ₦114.48 billion in the prior year. This led to an improvement in earnings per share, which rose to ₦10.78 from ₦8.84.
On the balance sheet, total assets grew to ₦8.12 trillion, an increase from ₦6.91 trillion at the end of 2024. Customer deposits expanded to ₦3.43 trillion, and loans and advances rose slightly to ₦2.50 trillion. Shareholders’ equity also saw a significant increase to ₦941.73 billion, reflecting strong retained earnings.
The results highlight how the banking sector is benefiting from high interest rates but also facing challenges from rising costs and volatile trading income. While high net interest margins have boosted earnings, continued pressure on non-interest revenue could affect profitability in the second half of the year.