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STANBIC IBTC FY 2019 RESULT
(Source: SAMTL, Date: 30-Jan-2020)

 

 

STANBIC IBTC FY 2019 RESULT

   

·     Stanbic IBTC Holdings Plc released unaudited FY'19 results for the period ended December 31st, 2019.

 

·     The result showed flat earnings (PAT) of N75.0 billion (FY'18: N74.4 billion). 

 

·     At the pre-tax level, a more noticeable growth in earnings (+3.1% YoY) was supported by improved non-interest income (6.0% YoY) and better cost to income ratio of 50.4% (vs 52.9% in FY'18). 

 

·     Customer deposits fell during the year (-21.0%) to N637.8 billion due to the reduction of more expensive term deposits. This, consequently, improved the contribution of low-cost deposits to 75.9% from 65.9% in FY'18.

 

·     Gross loans and advances improved by 21.2% to N556.4 billion as at FY'19 largely attributed to CBN's LDR measure, given that as at H1'19 gross loans was only 4.5% up at N479.7 billion.

 

 

 

 

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