BUSINESS

Stanbic IBTC Holdings Records 17.1% Decline In Group Profit In Q3 2021

Stanbic IBTC Holdings Plc, a leading financial group which carries on business as a financial holding company, to invest and hold controlling shares, in as well as manage equity in its subsidiary companies on Wednesday released its Interim consolidated and separate statement of profit or loss for the nine months period ended 30 September 2021 with a 17.1% decline in group profit for the three months period to N17.406 billion from N20,959 billion in Q3 2020.

Group profit for the nine months period ended 30 September 2021 also dropped to N39.949 billion from N66.163 billion in 2020.

The group also recorded a decline in gross earnings to N53.717 billion in Q3 from N56.716 billion in 2020 while figure for the none months showed a decline to N146.612 billion from N183.286 billion.

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