Stanbic IBTC Holdings Plc has reported a strong increase in profitability for the first half of 2026, with profit before tax (PBT) rising by 40.13 per cent to N341.57 billion.
The Group’s results for the six months ended June 30, 2026, also showed a 38.20 per cent increase in profit after tax to N239.68 billion, compared with N173.43 billion recorded in the corresponding period of 2025.
Reflecting the stronger earnings, the Board recommended an interim dividend of N4.50 per ordinary share, up 80 per cent from the N2.50 per share paid for the first half of 2025.
Stanbic IBTC’s gross earnings increased by 27.15 per cent year-on-year to N650.31 billion from N511.45 billion.
However, the growth was not driven by interest income.
Interest income declined by 5.40 per cent to N359.10 billion from N379.61 billion, while interest expense increased by 34.98 per cent to N92.83 billion from N68.77 billion.
As a result, net interest income fell by 14.34 per cent to N266.28 billion from N310.83 billion.
The decline in net interest income was more than offset by a significant increase in non-interest revenue.
Non-interest revenue more than doubled during the period, rising 125.88 per cent to N278.02 billion from N123.08 billion.
A major contributor was trading revenue, which swung from a loss of N856 million in H1 2025 to a gain of N126.36 billion in H1 2026.
Net fee and commission revenue also increased by 27.08 per cent to N145.26 billion from N114.31 billion.
Lower credit impairment charges provided another boost to earnings.
Net impairment losses on financial assets declined by 33.75 per cent to N7.36 billion from N11.10 billion. Consequently, income after credit impairment charges rose to N536.94 billion from N422.81 billion.
Stanbic IBTC’s operating expenses increased by 9.11 per cent to N195.38 billion from N179.07 billion.
Staff costs rose to N60.04 billion from N53.63 billion, while other operating expenses increased to N135.34 billion from N125.44 billion.
Despite the higher operating costs and weaker net interest income, the sharp increase in non-interest revenue and lower impairment charges lifted profit before tax by 40.13 per cent to N341.57 billion.
Profit after tax consequently rose 38.20 per cent to N239.68 billion, despite income tax expense increasing to N101.88 billion from N70.31 billion.
Basic earnings per share increased by 38.22 per cent to N14.90.
