Stanbic IBTC Holdings Plc recorded a profit after tax of N239.68 billion in the six months ended June 30, 2026, representing a 38.20 per cent increase from N173.43 billion recorded in the corresponding period of 2025, as stronger non-interest revenue helped offset weaker interest earnings.
The financial services group also reported a 40.13 per cent rise in profit before tax to N341.57 billion from N243.74 billion, while gross earnings climbed 27.15 per cent to N650.31 billion from N511.45 billion.
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The stronger bottom line came alongside a significant shift in the composition of earnings.
While net interest income fell 14.33 per cent to N266.28 billion from N310.83 billion, non-interest revenue more than doubled to N278.02 billion from N123.08 billion.
A major contributor was trading revenue, which rose to N126.36 billion in H1 2026, compared with a trading loss of N856 million in the same period of 2025.
Net fee and commission revenue also increased to N145.26 billion from N114.31 billion.
The result means Stanbic IBTC’s earnings growth was not primarily powered by the conventional spread between interest earned and interest paid. Instead, the group benefited substantially from trading activities and fee-generating businesses during the period.
Interest income fell 5.40 per cent to N359.10 billion from N379.61 billion, while interest expense increased sharply by 34.98 per cent to N92.83 billion from N68.77 billion.
The combination pushed net interest income lower despite the wider improvement in group revenue.
Credit costs, however, moved in a favourable direction. Net impairment losses on financial assets declined to N7.36 billion from N11.10 billion, a reduction of about 33.75 per cent.
That provided another boost to earnings during the period.
Operating expenses still increased, rising 9.11 per cent to N195.38 billion from N179.07 billion.
Staff costs accounted for part of the increase, while other operating expenses also rose during the period.
Alongside the earnings improvement, the group’s balance sheet expanded.
Total assets reached N10.91 trillion at June 30, 2026, up from N8.62 trillion at the end of December 2025.
Customer deposits increased to N4.63 trillion from N4.37 trillion, while loans and advances to customers rose to N2.59 trillion from N2.38 trillion over the same period.
The performance also translated into stronger returns for shareholders, with the board approving an interim dividend of N4.50 per ordinary share, subject to applicable withholding tax and regulatory requirements.
The N4.50 payout represents an 80 per cent increase from the N2.50 interim dividend paid for the first half of 2025. The proposed distribution amounts to about N71.56 billion.
Shareholders whose names appear on the register at the close of business on October 15, 2026, will qualify for the interim dividend.
The payment is scheduled for November 13, while eligible investors will also have the option of receiving the dividend through Stanbic IBTC’s scrip dividend scheme instead of cash.
The group’s earnings attributable to equity holders of the parent stood at N236.98 billion, compared with N171.37 billion a year earlier, while basic earnings per share increased to N14.90 from N10.78.
Stanbic IBTC’s pension and asset management operations also remained important contributors to the diversified group’s non-banking earnings.
Stanbic IBTC Pension Managers generated N56.60 billion in revenue during the period, up from N43.76 billion a year earlier, while Asset Management generated N27.45 billion in pre-tax profit at the group level.
The H1 figures therefore present a mixed earnings picture beneath the headline profit surge. Stanbic IBTC delivered substantially higher overall earnings, but traditional net interest income weakened as interest income declined and interest expense rose.
The sharp improvement in trading revenue, stronger fees and commissions, and lower impairment charges were central to the stronger result.
The performance comes against a changing interest-rate environment in Nigeria, where banks that benefited from high yields can face pressure on interest-related income as monetary conditions ease.
For Stanbic IBTC, the H1 numbers highlight the increasing importance of its broader financial services model and its ability to generate income beyond traditional lending and deposit activities.
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The Nigerian Exchange has confirmed the H1 2026 financial statements among Stanbic IBTC’s latest regulatory filings, following an earlier notification from the group that the half-year filing could be delayed while its audit and regulatory approval process was being completed.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
