The former Chief Executive of Stanbic IBTC Holdings, Sola David-Borha, has sold 615,812 units of the lender’s shares on Thursday on the platform of the Nigerian Exchange Limited, a notice on the director’s dealings disclosed.

The shares sold at an average rate of N63.21 per unit, bringing the transaction to N38.925m.

David-Borha is a non-executive director, Stanbic IBTC Holdings Plc.

According to the half-year report of the financial institution, David-Borha’s shareholding was 615,812 (held directly), same figure as the number of shares she sold.

Her shareholding used to represent 0.01 per cent of the entire shareholding of Stanbic IBTC Holdings.

Meanwhile, the lender had indicated a 121.46 per cent growth in its profit after tax to N67.92bn from N30.67bn for the same period in 2022.

Stanbic reported that the Group’s gross earnings increased by 58.18 per cent, profit before tax increased by 107.58 per cent and profit after tax increased by 121.46 per cent for the period ended 30 June 2023.

The directors recommended the approval of an interim dividend of 150 kobo per share (30 June 2022: 150 kobo per share) for the period under review.

The positive results of the financial group were on the back of appreciation in its net interest income which rose by 44.35 per cent to N72.68bn from N50.35bn in 2022, as well as a 56.64 per cent increase in its non-interest revenue which rose by 56.64 per cent to N98.62bn from N62.96bn.


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