Stanbic-IBTC to pay interim dividend, despite fall in profits - P.M. News

Stanbic-IBTC to pay interim dividend, despite fall in profits

Stanbic-IBTC

Stanbic-IBTC

Stanbic IBTC Holdings Plc on Monday said it will pay interim dividend of 100Kobo, despite the profits and gross earnings falling in the first half of the year.

This is according to the bank’s consolidated and separate interim financial statements posted on the website of the Nigerian Exchange (NGX) Limited in Lagos.

Profit before tax (PBT) of N24.70 billion for the six months ended June 30, represents a decrease of 52.85 per cent for the period ended June 30, compared to N52.40 billion recorded in the comparative period of 2020.

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The Group also reported a profit after tax (PAT) of N22.54 billion in the period under review, a fall of 50.13 per cent from N45.20 billion achieved in the same period of 2020.

Gross earnings also fell by 26.06 per cent to N93.59 billion, as against N126.57 billion recorded in the same period last year.