Stanbic IBTC posts N11.26bn profit in Q1 2021

The First Quarter report of Stanbic IBTC, published on Friday for the period ended 31 March 2021 show decline in the bank’s topline and bottom line figures when compared to last year’s achievement.

The bank reported Gross Earnings of N45.726 billion, down by 25.55% from N61.418 billion reported in the first quarter of 2020.

Profit after tax declined by 45.36% to N11.256 billion from the profit after tax of N20.601 billion reported in Q1 2021.

Earnings per share of the bank dropped to N1.01 from the EPS of N1.85 in Q1 2020.

At the share price of N50, the P.E ratio of Stanbic IBTC stands at 49.33x with earnings yield of 2.03%.

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