Stanbic IBTC’s earnings hit N202bn as interest income doubles

By Mary Adenike

Stanbic IBTC Holdings, the parent company of Stanbic IBTC Bank, saw its after-tax profit rise by 43.7 percent last year compared to 2023, according to its latest unaudited financial statement.

The holding company reported an profit of N202.1 billion, up from N140.6 billion as interest income, its biggest source of revenue, surged to N566.5 billion from N270.6 billion.