Stanbic IBTC posts 11% profit rise, boosts dividend

Stanbic IBTC Holdings Plc has said its 2020 full-year profit after tax rose by 10.89 percent to N83.21 billion.

The group’s profit before tax grew to N94.72 billion last year from N90.93 billion in 2019, according to its audited financial statements released on Wednesday.

Its directors recommended the approval of a final dividend of 360 kobo per share for the year ended Dec. 31, 2020 (Dec. 31, 2019: 200 kobo per share), translating to N39.98 billion as against N21.01 billion in 2019.

Stanbic IBTC Holdings is a member of the Standard Bank Group, which holds a 67.02 percent equity holding (through Stanbic Africa Holdings Limited) in the company.