Stanbic IBTC Holdings Plc has released its consolidated and separate interim financial statements for the second quarter ended 30 June 2021 the group’s profit after tax decreased by 50.13% to N22.543 billion for the period.
Gross earnings decreased by 26.06% to 93,592 billion and profit before tax decreased by 52.85%.
Meanwhile the directors’ recommended the approval of an interim dividend of 100 kobo per share up from 40 kobo per share for the period ended 30 June 2020.
The principal activity of the company is to carry on business as a financial holding company, to invest and hold controlling shares, in as well as manage equity in its subsidiary companies.
The company has nine direct subsidiaries, namely: Stanbic IBTC Bank PLC, Stanbic IBTC Pension Managers Limited, Stanbic IBTC Asset Management Limited, Stanbic IBTC Capital Limited, Stanbic IBTC Insurance Limited, Stanbic IBTC Stockbrokers Limited, Stanbic IBTC Ventures Limited, Stanbic IBTC Insurance Brokers Limited and Stanbic IBTC Trustees Limited and two indirect subsidiaries, namely: Stanbic IBTC Financial Services Limited (formerly Stanbic IBTC Bureau De Change Limited), and Stanbic IBTC Nominees Limited. Stanbic IBTC Financial Services Limited is yet to commence operations.