NSE Lists Additional Shares of Stanbic IBTC

Stanbic IBTC Bank
                         Stanbic IBTC Bank


Additional 31,515,400 ordinary shares of 50 kobo each of Stanbic IBTC Holdings Plc has been listed on the Nigerian Stock Exchange (NSE)


Godstime Iwenekhai, Head, Listings Regulation, NSE, in a statement said the additional shares arose as a result of the scrip dividend offered to eligible shareholders of Stanbic IBTC, who elected to receive ordinary shares in lieu of cash dividends with respect to the N1.00 final dividend declared for the half year ended June 30, 2019.


With the listing of 31,515,400 ordinary shares, the total issued and fully paid up shares of the company has now increased from 10,473,451,958 to 10,504,967,358 ordinary shares.


The bank’s earnings per share, decreased by 11 per cent from 573 kobo in September 2018 to 513 kobo in September 2019.


It also announced a seven per cent drop in post-tax profit for the period with marginal growth in most of the bottom-line fundamentals in its Q3 2019 result.


A Post-tax profit of N55.55 billion which was less than the N59.76 billion profit declared in the corresponding period in 2018 was announced by the bank. The three per cent growth in gross earning with a 6 per cent growth in trade income could not dovetail into growth in profit because of a 98 per cent drop in impairment write back. The bank was able to recoup N4.14 billion of its Bad Debt in Q3 2018 but only N90 million was recovered in the same period in 2019.