Stanbic IBTC Holdings Plc. grew its profit by 78% to N43.1 billion in the first half of 2018 as against N24.1 billion reported in the same period in 2017.

The company's earnings as at June 30, 2018, posted on the Nigerian Stock Exchange on Thursday, August 16, 2018, revealed that its gross earnings rose 17.5% from N97.2 billion in 2017 to N114.2 billion in 2018.

On charges and commission, Stanbic Bank IBTC made a well over N36 million in the last 6 months.

ALSO READ:  Nigerian banks make it to the list of top 1,000 global banks, here are they

Here are highlights of the results:

- Profit before tax grew by 72% to N50.7 billion in the first 6 months from N29.2 billion recorded in the same period in 2017.

- The company proposed an interim dividend of N1 per ordinary share of 50 kobo each, which amounts to N10,113,674,444.00, subject to deduction of appropriate withholding tax and regulatory approval.

For the other banks, Zenith Bank Plc recorded N81.7 billion profit in the first half and declared a dividend per share of 30 kobos, 20% above 25 kobos paid as interim dividend for the first half of 2017.

GTBank recorded N95.5 billion as profit after tax for the period ended June 30, 2018, while Union Bank Plc posted N11.45 billion as profit in the last 6 months.

Also from Business Insider Sub-Sahara Africa: