Yinka Sanni, CEO, Stanbic IBTC

Adebayo Obajemu

Stanbic IBTC in its financial report for the three months ended 31 March, 2020 posted a profit after tax of N20.60 billion.

In the unaudited financial statement, the financial institution grew its gross earnings by 4.64% to settle at N61.42 billion from N58.69 billion reported in the first quarter of 2019.

The profit before tax of the bank was 24.41 billion, up by 3.85% when compared to N23.51 billion reported in Q1 2019.

The profit after tax of the bank grew by 7.58% to settle at N20.60 billion from N19.15 billion reported in the first quarter of 2019.

The earnings per share of the the bank stands N1.96, up by 7.58% when compared to the earnings per share of N1.82 in Q1 2019.

With reference to the share of N28.50, the P.E ratio of Stanbic IBTC is calculated as 14.53x with earnings yield of 6.88%.