Stanbic Half Year Profit Rises to N5.9bn

Stanbic Half Year Profit Rises to N5.9bn

Stanbic IBTC Bank said yesterday its half-year pretax profit rose 8 percent to N5.86 billion ($37 mln), compared with N5.39 billion in the same period a year ago, lifting its shares almost 2 percent.

Gross earnings at the local unit of South Africa’s Standard Bank climbed N45.6 billion during the period, from N31.2 billion last year, it said in a filing with the Nigerian Stock Exchange.

Stanbic closed at N7.16 per share yesterday, up 1.85 percent from N7.03 at Tuesday’s close

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