Stanbic IBTC Holdings Plc published its half-year 2026 results for the six months ended June 30, 2026, recording profit before tax of N341.57 billion, a 40.13% rise from N243.74 billion in the same period of 2025. Gross earnings grew 27.15% to N650.31 billion, while profit after tax increased 38.20% to N239.68 billion.
The board recommended an interim dividend of N4.50 per ordinary share, an 80% increase from the N2.50 declared for the first half of 2025.
Key highlights for the period include:
- Gross earnings: N650.31 billion, up 27.15% year on year - Interest income: N359.10 billion, down 5.40% - Interest expense: N92.83 billion, up 34.98% - Net interest income: N266.28 billion, down 14.34% - Non-interest revenue: N278.02 billion, up 125.88% - Net fee and commission revenue: N145.26 billion, up 27.08% - Trading revenue: N126.36 billion, compared with a N856 million loss in H1 2025 - Net impairment loss: N7.36 billion, down 33.75% - Operating expenses: N195.38 billion, up 9.11% - Basic earnings per share: N14.90, up 38.22% - Total assets: N10.91 trillion, up 26.59% from N8.62 trillion in December 2025
The profit growth was driven mainly by a sharp increase in non-interest revenue, particularly trading income, alongside stronger fee and commission earnings and lower impairment charges. These factors more than offset weaker net interest income and higher operating costs.
Gross earnings rose to N650.31 billion from N511.45 billion. Interest income, however, fell 5.40% to N359.10 billion from N379.61 billion, while interest expense climbed 34.98% to N92.83 billion from N68.77 billion. This pushed net interest income down 14.34% to N266.28 billion from N310.83 billion.
Net impairment losses on financial assets declined 33.75% to N7.36 billion from N11.10 billion, lifting income after credit impairment charges to N536.94 billion from N422.81 billion. Non-interest revenue more than doubled to N278.02 billion from N123.08 billion, driven by trading revenue swinging to a N126.36 billion gain from a N856 million loss. Net fee and commission revenue increased 27.08% to N145.26 billion from N114.31 billion.
Operating expenses rose 9.11% to N195.38 billion from N179.07 billion. Staff costs increased to N60.04 billion from N53.63 billion, while other operating expenses rose to N135.34 billion from N125.44 billion. Profit after tax advanced to N239.68 billion from N173.43 billion even as income tax expense increased to N101.88 billion from N70.31 billion.
