Stanbic IBTC Posts ₦82bn Q1 Profit as Net Interest Income Doubles

Stanbic IBTC Holdings PLC reported a first-quarter profit of ₦82.1bn for 2025, marking a 78% year-on-year increase, buoyed by robust interest income that more than offset declines in trading revenue.

Net interest income surged 95% to ₦149.9bn from ₦76.9bn in the same period last year, driven by an expansion in the bank’s loan book and higher yields on financial instruments. Loans and advances rose slightly to ₦2.47tn, while deposits from customers edged up to ₦3.05tn, supporting balance sheet growth.

Kunle Adedeji, Acting Chief Executive and Chief Financial Officer, attributed the performance to “strategic balance sheet optimisation and a continued focus on high-yield assets.”

However, the group’s non-interest revenue declined 13% to ₦53.1bn, with trading revenue reversing sharply to a loss of ₦6.97bn compared to a gain of ₦17.6bn in Q1 2024. The hit to trading income came amid subdued market conditions and fair value losses on financial instruments.

Total operating income stood at ₦203bn, a 47% increase, while credit quality improved, with a net write-back of ₦3.4bn in impairment charges, versus a loss of ₦7.1bn a year earlier.

Despite the earnings jump, operating expenses rose 32% to ₦90bn, reflecting inflationary pressures and wage adjustments. Staff costs increased 16% year-on-year, while other expenses climbed 39%.

The group’s total assets reached ₦7.4tn, up from ₦6.9tn at the end of 2024, underscoring its continued expansion in Nigeria’s competitive banking sector.

Earnings per share jumped to 625 kobo from 345 kobo in Q1 2024. The bank did not declare a dividend for the period, in line with its usual interim policy.

Stanbic IBTC, a subsidiary of South Africa’s Standard Bank Group, remains one of Nigeria’s most profitable financial services groups, with interests spanning commercial banking, pensions, asset management and insurance.

Subscribe to Notifications