Earnings Report /
Nigeria

Stanbic IBTC: Q3 21 profit drop in line with expectation; trading revenue remains the trigger

  • The group's profits for the quarter fell 18% yoy, due to a mixture of lower trading income and higher operating costs

  • Interestingly, net interest income was better than expected, as the group's aggressive loan growth drive yielded benefit

  • We retain our Buy rating; diversified revenue streams and strong capital ratios remain positive factors

Busola Jeje
Busola Jeje

Research Analyst

Tellimer Research
25 October 2021
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