Stanbic IBTC Plc Makes N15 Billion Profit In Q1 2022

Stanbic IBTC has released its 2022 first quarter (Q1 2022), which indicates a profit of N15.07 billion during the period financial report which reveals a 33.87% increase year on year

N1.11 earnings per share was also reported by the bank, which reflects a 35.37% growth from the N0.82 reported a year earlier in 2021.

Due to the effect the pandemic has on businesses, the bank’s profit got slashed by 45% in Q1 2021 compared to Q1 2020. Nevertheless, it is observed that the bank has started recovering its profit from the Q1 2022 financial report.

According to the report,  Net interest income grew by 47.75% from N15.86 billion to N23.43 billion in the current period. The bank’s profit performance is on the back of economic recovery, which is reflected in all margin growth as income from interest, trading income and fees and commission income all appreciated year on year.

 As of Friday, April 22, 2022,  Stanbic IBTC Plc last traded at N33.25 per share and its market capitalization stands at N430.82 billion. Year-to-date performance shows that the share price of the company has depreciated by 7.64%.

Recently, the bank has declared a final dividend per share of N2.00 per share, to be paid on each of the 12,956,997,163 issued ordinary shares, for the period ended December 31, 2021.

The dividend representing N25.91 billion will be paid on May 27, 2022, to the shareholders whose names appear on the Register of shareholders as of April 13, 2022.

Stanbic IBTC Plc’s dividend yield is about 6.02%, based on its current share price.