Stanbic IBTC Holdings engages shareholders on strategic vision, performance

Stanbic IBTC Holdings Plc, a member of the Standard Bank Group, recently held its 13th Annual General Meeting (AGM), where it presented its audited financial statements for the year ended December 31, 2024.

The AGM highlighted a year marked by strong financial growth, operational resilience, and continued execution of the Group’s long-term strategic priorities.

According to the financial results presented, Stanbic IBTC 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.

Earnings per share rose to 1,710 kobo, while the Board proposed a final dividend of 300 kobo per ordinary share, bringing the total dividend for the full year 2024 to 500 kobo; reaffirming the Group’s commitment to delivering long-term value to shareholders.

In her remarks, Sola David-Borha, Chairman of Stanbic IBTC Holdings Plc, praised the Group’s ability to navigate economic headwinds while advancing its strategic agenda.

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“We are proud to report strong progress across our key focus areas as Nigeria’s leading end-to-end financial services provider. For the fourth consecutive year, our SME and retail banking businesses ranked first in the 2024 KPMG Nigeria Banking Industry Customer Experience Survey – a testament to our client-centric approach and unwavering commitment to service excellence.”

She added that the Group continued to broaden its product portfolio, scale its technology platforms, and deepen strategic partnerships. “We are continuously evolving to meet our customers’ changing needs while maintaining the standards of excellence that define Stanbic IBTC,” she said.

Adekunle Adedeji, acting Chief Executive of Stanbic IBTC Holdings, attributed the Group’s achievements to strong financial results, a cultural fortification driven by innovation and a relentless focus on customers. “Beyond the numbers, we strengthened our customer-first mindset, streamlined operations through digital innovation, and embedded sustainability across our business.”

Looking ahead, Stanbic IBTC reaffirmed its commitment to supporting Nigeria’s economic development by expanding access to credit, promoting financial inclusion, and empowering entrepreneurs and the youth . The Group will continue to align with the Sustainable Development Goals (SDGs), integrating environmental, social, and governance (ESG) principles into its business strategy.

Despite prevailing economic challenges, the Group remains optimistic and committed to scaling impact, accelerating growth, and delivering value for all stakeholders.

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.