Stanbic IBTC Holdings is poised to become the first Nigerian bank to hit the N100/share mark.
Currently trading at N 72.15 per share, Stanbic IBTC, its 52-week high as against a 52-week low of N52, the stock is trailed by its closest rival, GTCO, which stood at N71.20 at the close of trading on Tuesday.
Stanbic IBTC share price has risen this year by 25.26 percent, while GTCO has risen this year by 24.91 percent.
Read also: Fitch reaffirms Stanbic IBTC Holdings ‘AAA (nga)’ rating
In its audited financial statements for the year ended December 31, 2024, Stanbic IBTC Holdings recorded a net interest income of N823.31 billion – an increase of 78.26 percent from N461.86 billion in 2023.
This impressive growth translated into a profit before tax of N303.80 billion and a profit after tax of N225.31 billion, representing a 60.23 percent year-on-year increase.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
