• Latest
  • Trending
Stanbic IBTC Holdings grows pre-tax earnings by 108%

Stanbic IBTC Holdings grows pre-tax earnings by 108%

September 5, 2023
Edtech startup The Invigilator raises $11 million to scale its AI platform

Edtech startup The Invigilator raises $11 million to scale its AI platform

September 6, 2025
iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

September 6, 2025
OpenAI challenges LinkedIn with new AI-powered hiring platform

OpenAI challenges LinkedIn with new AI-powered hiring platform

September 6, 2025
Tanzanian fintech NALA takes its services to Kenya

Tanzanian fintech NALA takes its services to Kenya

September 6, 2025
Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

September 5, 2025
Meta Brings Back Facebook Poke with Emojis and Streaks

Meta Brings Back Facebook Poke with Emojis and Streaks

September 5, 2025
Know why they’re calling: Truecaller launches AI-powered insights

Know why they’re calling: Truecaller launches AI-powered insights

September 5, 2025
Visa harnesses local partnerships to launch Visa Pay in DR Congo

Visa harnesses local partnerships to launch Visa Pay in DR Congo

September 5, 2025
Betika denies recent reports of security breach

Betika denies recent reports of security breach

September 5, 2025
10 things you can actually buy with crypto in Africa

10 things you can actually buy with crypto in Africa

September 5, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

Stanbic IBTC Holdings grows pre-tax earnings by 108%

Modupeoluwa Olalere by Modupeoluwa Olalere
September 5, 2023
140 10
0
Stanbic IBTC Holdings grows pre-tax earnings by 108%
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

A new report says that Stanbic IBTC Holdings’ income before taxes grew by 108% in the first half of 2023.

 This shows that the company took strategic steps and had good financial management. This shows that the company is always committed to giving value to its stakeholders and maintaining a solid position in the industry. 

Read also: Stanbic IBTC renames fintech subsidiary as ZEST Payment Limited

Stanbic IBTC Holdings’ revenue

Gross income for Stanbic IBTC Holdings rose 58.18% to N213.334 billion. Interest income increased 61.56% to N110.26 billion from the previous year, supporting this intriguing progress story. These milestones demonstrate the institution’s ability to generate high revenue and maximize interest-driven operations. 

RelatedPosts

Stanbic IBTC’s Zest Payments records N2 billion loss in 2024

Stanbic IBTC renames fintech subsidiary as ZEST Payment Limited

Interest costs, which fluctuate with interest rates, rose 109.97% to N37.575 billion. This line shows how interest rate changes cause complex issues.

Despite this, net interest income tells an excellent narrative. It increased 44.35% from last year to N72.684 billion.

After years of the economy falling apart, financial institutions have been expanding their product lines and moving away from standard banking halls and towards fintech.

Stanbic IBTC Group rebranded fintech ZEST Payments Limited.

Recently, Stanbic IBTC Holdings changed its financial technology offering from Stanbic IBTC Financial Services Limited to ZEST Payments Limited.

Modern banking in Africa is based on having many different ways to make money. Stanbic IBTC Holdings knows this and has set up a symphony of it.

Non-interest income increased by 56.64% from the previous year to N98.618 billion. Net income from fees and commissions rose 12.27% yearly to N51.154 billion, and trade revenue jumped 174.04% to N44.723 billion.

This dynamic interaction of income streams shows that the institution can take advantage of opportunities in different areas of finance.

Before credit impairment charges, income rose by 51.18 per cent to N171.302 billion. After credit impairment charges, net impairment losses on financial assets came to N5.979 billion, which shows that income grew by 53.30 per cent from the previous year to N165.323 billion.

Sun King secures $130 million from BII, Stanbic Bank Kenya

This exponential growth shows that the institution can handle complex risk scenarios. Earnings for the time rose by 121.46% year over year to N67.919 billion. This historic growth shows that Stanbic IBTC Holdings can handle economic changes while focusing on long-term growth.

Balance sheet numbers are the heart of financial power. Loans to businesses and loans to consumers went up by 37.44%, to a total of N1.656 trillion, showing that the institution cares about both businesses and people. The institution is flexible because cash and cash equivalents increased by 52.72 per cent to N1.015 trillion.

The company’s assets went up by 46.95% year over year to N4.451 trillion, and customer savings went up by 31.54% to N1.638 trillion. These key measures show how solid and stable the institution’s finances are.

Stanbic IBTC Holdings did well in the first half of 2023 compared to last year, which shows how well the company has done in a changed financial environment with FX instability.

It also talks about the benefits of the Central Bank of Nigeria (CBN) raising financial special interest rates to make the naira stronger against the dollar.

Tags: Stanbic IBTC
Modupeoluwa Olalere

Modupeoluwa Olalere

Modupe is a tech content writer with 3+ years of experience turning complex ideas into clear, engaging stories. She covers innovation, digital trends, and emerging technologies. When she’s not writing, she’s exploring new tools or tracking trends shaping Africa’s tech ecosystem.

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

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

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.