Stanbic IBTC Holdings Plc has reported a 33 per cent increase in profit after tax to ₦370.36 billion for the nine months ended September 30, 2026, driven largely by higher trading income, increased fee revenue and lower impairment charges.
The group’s profit after tax rose from ₦278.48 billion recorded in the corresponding period of 2025, while profit before tax increased by 35 per cent to ₦531.88 billion from ₦393.84 billion.
Total income grew by 24.8 per cent to ₦817.77 billion, supported by non-interest revenue, which more than doubled to ₦437.99 billion from ₦208.70 billion.
Trading income surged to ₦210.13 billion from ₦23.86 billion, while net fee and commission revenue increased by 26.5 per cent to ₦218.30 billion.
However, net interest income declined by 14.9 per cent to ₦379.79 billion, as interest income fell and interest expenses rose by 27.7 per cent to ₦165.57 billion.
The group’s operating expenses also increased by 14.3 per cent to ₦285.39 billion, with staff costs rising by 25.3 per cent to ₦103.89 billion.
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Despite the increase in expenses, the group’s cost-to-income ratio improved, with operating expenses accounting for 34.9 per cent of total income, compared with 38.1 per cent in the previous year.
Lower impairment charges also supported earnings, with net impairment losses falling to ₦507 million from ₦11.64 billion a year earlier.
Meanwhile, income tax expenses increased by 40 per cent to ₦161.51 billion, pushing the effective tax rate to approximately 30.4 per cent.
Despite the stronger earnings, the group recorded net operating cash outflows of ₦533.22 billion, compared with ₦515.96 billion in the corresponding period of 2025. Cash and cash equivalents also declined to ₦1.16 trillion at the end of September from ₦2.10 trillion at the beginning of the period.
At the parent-company level, Stanbic IBTC Holdings reported profit after tax of ₦127.27 billion, compared with ₦55.23 billion in the same period last year.
While the results reflect significant profit growth, the decline in net interest income, rising funding costs and negative operating cash flows remain key areas for investors to monitor.
The sustainability of the group’s earnings will depend partly on its ability to strengthen core interest income, maintain fee revenue growth and manage expenses while reducing reliance on potentially volatile trading gains.
