STANBIC grows 78% profit in H1’18

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STANBIC IBTC HOLDING has recorded 78.68 percent growth in its profit after tax (PAT) so far in 2018. The financial institution’s PAT advanced from N24billion of 2017 to N43billion recorded in the current period of 2018.

The bank’s 2018 Half year financial reports that was made public, on Thursday, 16th of August, 2018 revealed a 17.50 percent growth in Gross Earnings’ figure of N97.1 billion garnered in the corresponding period the previous year to N114.2 billion recorded in the current period under review

The earnings per share also appreciated by 78.68 percent from previous year’s N2.38kobo to current year’s N4.26kobo.

The current period’s PE Ratio is at 11.8 and the earnings yield at 8.46%.

The Management proposed an Interim Dividend of N1.00 (One Naira) per ordinary share of 50 kobo each, that is, N10,113,674,444.00, subject to deduction of appropriate withholding tax and regulatory approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Tuesday 28 August 2018.

 

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