By Ayomide Otitoju
Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, has reported robust financial results for the year ended December 31, 2024, at its 13th Annual General Meeting (AGM), reinforcing its status as one of Nigeria’s leading financial institutions.
The Group recorded a 78.26% increase in net interest income, which rose to ₦823.31 billion from ₦461.86 billion in 2023. Profit before tax stood at ₦303.80 billion, while profit after tax reached ₦225.31 billion—representing a 60.23% year-on-year growth. Earnings per share climbed to 1,710 kobo, and the board declared a final dividend of 300 kobo, bringing total dividends for the year to 500 kobo per ordinary share.
Speaking at the AGM, Chairman of Stanbic IBTC Holdings, Sola David-Borha, lauded the Group’s resilience amid challenging macroeconomic conditions. “Despite economic headwinds, we continued to deliver on our strategic priorities. Our SME and retail banking segments were again ranked first in the 2024 KPMG Nigeria Banking Industry Customer Experience Survey—our fourth consecutive win.”
David-Borha emphasized the Group’s sustained investments in technology, product diversification, and customer experience. “We remain focused on evolving to meet our clients’ changing needs while maintaining the excellence that defines our brand,” she added.
Acting Chief Executive Adekunle Adedeji attributed the Group’s performance to a strong financial foundation and a culture rooted in innovation. “We enhanced customer-centricity, leveraged digital tools to streamline operations, and embedded sustainability across all business lines,” he stated.
Looking ahead, Stanbic IBTC reaffirmed its commitment to national economic development through expanded access to credit, financial inclusion, and youth empowerment. The Group also pledged continued alignment with the UN Sustainable Development Goals (SDGs), integrating ESG principles into its corporate strategy.
Despite ongoing economic uncertainties, the Group expressed optimism about its future prospects and reaffirmed its commitment to operational excellence and long-term stakeholder value.
