• About Us
  • Terms & Conditions
  • Contact Us
Thursday, March 23, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    Protest at all offices of the Central Bank – NLC directs workers

    Gov. Elections: INEC declares winner of Enugu State governorship election

    Gov. Elections: INEC declares winner of Enugu State governorship election

    How Labour Party won Abia State governorship election

    How Labour Party won Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    JUST IN: ‘13 Parties’ threaten to pull out of 2023 Elections over naira redesign

    We will use all available sanctions against those who undermined Nigeria’s Polls – US

    INEC disowns online voter registration website

    INEC to resume collation of Gov. election results in Enugu and Abia state

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

    Guaranty Trust Holding Company profit dips to N77.56 billion in H1 2022

    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Bitcoin rises over 18% as cryptos surge in renewed hope

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Approval given for acquisition of International Energy Insurance Plc

    UBS agrees to buy troubled 167 years old rival, Credit Suisse

    Unilever Nigeria Plc Board of Directors approve Tea Business Separation Process

    Unilever Nigeria makes changes to its business model

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    Stanbic IBTC announced N2.00 final dividend for 2022 FY

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Transnational Incorporated announces delay in publication of 2022 result

    President Biden approves major Oil and Gas drilling project in Alaska

    President Biden approves major Oil and Gas drilling project in Alaska

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    Obajana Cement Plant has commenced full operation – Dangote Cement Plc

    Dangote Cement Plc establishes new share buy-back programme

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    Protest at all offices of the Central Bank – NLC directs workers

    Gov. Elections: INEC declares winner of Enugu State governorship election

    Gov. Elections: INEC declares winner of Enugu State governorship election

    How Labour Party won Abia State governorship election

    How Labour Party won Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    JUST IN: ‘13 Parties’ threaten to pull out of 2023 Elections over naira redesign

    We will use all available sanctions against those who undermined Nigeria’s Polls – US

    INEC disowns online voter registration website

    INEC to resume collation of Gov. election results in Enugu and Abia state

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

    Guaranty Trust Holding Company profit dips to N77.56 billion in H1 2022

    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Bitcoin rises over 18% as cryptos surge in renewed hope

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Approval given for acquisition of International Energy Insurance Plc

    UBS agrees to buy troubled 167 years old rival, Credit Suisse

    Unilever Nigeria Plc Board of Directors approve Tea Business Separation Process

    Unilever Nigeria makes changes to its business model

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    Stanbic IBTC announced N2.00 final dividend for 2022 FY

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Transnational Incorporated announces delay in publication of 2022 result

    President Biden approves major Oil and Gas drilling project in Alaska

    President Biden approves major Oil and Gas drilling project in Alaska

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    Obajana Cement Plant has commenced full operation – Dangote Cement Plc

    Dangote Cement Plc establishes new share buy-back programme

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Business

Stanbic IBTC Holdings Plc grow profit by 42% to N81bn in 2022

Tuesday, 31 January 2023, 10:41 pm
in Business, Companies
0
Stanbic IBTC Holdings Plc grow profit by 42% to N81bn in 2022
Share Share Share Share Send as Email

Stanbic IBTC Holdings Plc (NGX: STANBIC), a member of the Standard Bank Group has posted an impressive 42.30% growth in profit after tax for financial year ended 31st December, 2022.

Also read; JUST IN: Banks will accept old naira notes after deadline – Emefiele

The unaudited consolidated and separate annual financial statements released by the bank and seen by Investogist shows growth across all major revenue streams; 45.75% growth in Interest revenue, 9.15% growth in fee and commission revenue, 161.07% growth i trading revenue, and 308.66% growth in other revenue.

Analysis of Statement of Profit or Loss and Other Comprehensive Income

  • Gross Earnings: Stanbic’s gross earnings stood at N287.87bn, 39.31% higher than the N206.64bn reported in 2021.
  • Interest Income: The bank’s interest income went up by 45.75% to N152.67bn from N104.75bn. N119.96bn interest on loans and advances to customers constituted the major part of this interest income (2021: 77.71bn). Interest on investments that amounted to N31.45bn was also reported by the bank (2021: N26.20bn).
  • Fee and commission revenue: N58.60bn from Asset management fees, N10.01bn from brokerage and financial advisory fees, N7.51bn from electronic banking, N5.44bn from account transaction fees and others earned Stanbic N96.40bn fee and commission revenue. It grew this income segment by 45.75%, as N104.75bn was reported in 2021.
  • Trading revenue: N34.68bn was reported as trading revenues in the year in review, 161.07% higher than the N13.28bn reported in the preceding year. All but N2mn of the trading revenue came from fixed income and currencies.
  • Staff costs: N50.99bn was spent on staff costs, 21.30% above the N42.04bn spent in 2021.
  • Other Operating Expenses: Stanbic spent N78.56bn on operations, a bulk of which were the N14.60bn expensed on AMCON expenses and N13.53bn spent on information technology.
  • Profit before tax: Stanbic posted a profit before tax of N100.59bn, 52.42% improvement on the N66.00bn posted in 2021. The bank went on to pay an income tax of N19.53bn (2021: N9.03bn).
  • Profit after tax: The profit after tax reported was N81.06bn, against the N56.96bn reported in 2021, a growth of 42.30%.
  • Earnings per share: Stanbic posted an Earnings per Share of N6.05 for the period under review.

Analysis of Statement of Financial Position

  • Cash and cash equivalents: The cash and cash equivalent held by Stanbic as at December 2022 went up 2.87% to N671.81bn when compared with what it had as at 31st December 2021, a time it held N653.07bn.
  • Total Assets: The company’s assets went up by 10.74%, from N3.03tn as at 31st Dec. 2021 to N2.74tn. Loans and advances to customers which rose from N937.14bn to N1.20tn represented a bulk of the companies assets.
  • Deposits from customers: Stanbic brought in 11.96% more money from its customers than it did in 2021. It had N1.74tn of customers deposit on its books as at 31st December, 2022 (31st Dec. 2021: N1.55tn).
  • Total Liabilities: The total liabilities increased by 11.14%, from N2.36tn to N2.62tn. Deposits and current accounts constituted N1.744tn of the bank’s liabilities.
  • Shareholder’s fund: The shareholder’s fund grew by 8.24%, from N407.92bn to N376.86bn. The bank’s reserve went up from N258.75bn to N290.65bn.

Analysis of Statement of Cash Flow

  • Operating activities: N72.70bn was used for operating activities  (330.24bn was used for the same activity in the preceding period).
  • Investing activities: N27.48bn was generated from investing activities, due to the N53.45bn it earned from the sale of financial investment securities (N86.72bn was used in the preceding period).
  • Financing activities: N27.11bn was generated from financing activities (N61.10bn was used in financing activities in the preceding period).

About the company

Stanbic IBTC Holdings PLC  is a company domiciled in Nigeria. The address of the company is IBTC Place, Plot 1C Walter Carrington Crescent, Victoria Island, Lagos.

The group is primarily involved in the provision of banking and other financial services to corporate and individual customers.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

Related Posts:

  • FY 2020: Stanbic IBTC Holdings Plc grows profit by 10.9%
    FY 2020: Stanbic IBTC Holdings Plc grows profit by 10.9%
  • Stanbic IBTC Holdings Plc's profit slumps by 50.1% in H1 2021
    Stanbic IBTC Holdings Plc's profit slumps by 50.1% in H1…
  • Stanbic IBTC Holdings Plc posts N134.87 billion GE in H1 2022
    Stanbic IBTC Holdings Plc posts N134.87 billion GE in H1…
  • Stanbic IBTC Holdings Plc to establish Fin Tech subsidiary
    Stanbic IBTC Holdings Plc to establish Fin Tech subsidiary
Previous Post

Suspected herdsmen ambush Benue policemen, kill DPO

Next Post

MTN Nigeria’s Board of Directors approve payment of N10.00 final dividend for 2022 FY

Next Post
MTN Nigeria proposes N23bn Commercial Paper

MTN Nigeria's Board of Directors approve payment of N10.00 final dividend for 2022 FY

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Thugs invade INEC office in Abia State.

Abia State House of Assembly election results – INEC

MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

More than 70 feared dead as boat capsizes in Anambra

Anambra state House of Assembly election results

Gunmen invade Imo community, destroy properties

Imo state House of Assembly election results announced by INEC

CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London – Peoples gazette

BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

Seplat Energy Plc takes legal action against Orjiako

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist