• Companies
  • Updated: June 12, 2023

Stanbic IBTC Records 40 Per Cent Increase In Income

Stanbic IBTC Records 40 Per Cent Increase In Income

For the 2022 financial period, Stanbic IBTC Holdings Plc has said its income grew by 40 per cent.

Demola Sogunle, the Chief Executive, Stanbic IBTC, revealed this while presenting its 2022 financials at its 11th annual general meeting in Lagos.

"The Group’s total income increased by 40 per cent to N240 billion in 2022, which resulted in a profit before tax of N100 billion, a 52 per cent improvement over 2021.

"The Group’s customer base grew by 15 per cent during the period", he said.

In 2022, the chief executive added that the Group recorded breaking financial performances, setting new high watermarks in key financial indicators.

“Our customer entrenchment programme across the overarching client segment (Corporate and investment banking, business and commercial clients, and consumer and high net-worth clients) played a significant role in this success.

“Some other highlights of the Group’s financial performance included the sustained growth in risk assets, trade lines, assets under management, assets under custody, and gross written premium", he added.

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