Stanbic IBTC posts 116 per cent increase in profit

Stanbic IBTC Holdings , a unit of South Africa’s Standard Bank, said on Thursday its 2013 pretax profit rose to N24.62 billion, an increase of 116 percent from N11.41 billion a year earlier.

Gross earnings grew to N111.22 billion during the period, compared with N91.86 billion in 2012, it said in a filing with the Nigeria Stock Exchange.

Stanbic IBTC proposed a dividend of N0.10 per share, the same amount it paid in 2012