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Event
Stanbic IBTC Holdings Plc (“The Group”) delivered a resilient performance in FY 2024, navigating a challenging macroeconomic environment marked by high inflation, FX volatility, and sustained monetary tightening. Despite these headwinds, the Group reported an 78% year-on-year increase in gross earnings to N823.31bn from N461.86bn in FY 2023, underpinned by strong growth in both interest and non-interest income.
Backed by its solid earnings performance and strong capital base, the Group declared a total dividend of N5.00 per share – comprising an interim dividend of N2.00 and a final dividend of N3.00.
Q1 2025 Earnings Update – Strong Start Driven by Core Revenue Growth
Stanbic IBTC kicked off the 2025 financial year on a strong note, posting a 30% year-on-year growth in gross earnings. This performance was largely anchored on robust interest income growth, which offset the decline recorded in non-interest income.
Valuation
Based on our revised earnings estimates and valuation outlook, we adjust our fair value to N88.29, up from N71.21 in our previous report. This reflects stronger earnings visibility and sustainable return metrics.
Please follow the link “Stanbic IBTC Plc FY 2024 & Q1 2025 – Resilient 2024 Financial Performance Sets Base for FY 2025” to view the whole report.
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