Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings, announced on Monday that it had crossed the ₦1 trillion asset under management (AuM) threshold.
While expressing her delight at the achievement, Busola Jejelowo, Chief Executive, Stanbic IBTC Asset Management, attributed the achievement to the trust and support of its clientele, partners and stakeholders.
“This milestone is a tribute to our clients who have entrusted us with their financial goals. Their belief in our capabilities has fueled our journey and their success stories are the true measure of our achievement. For us, the real win is that we have achieved our mission – to empower our clients, to help them achieve their dreams, and to support them to create a legacy of financial prosperity – this is the true prize.”
Busola went on to express appreciation to the clientele of the organisation, and reiterated the company’s commitment to excellent service delivery to its clients.
In the first half of 2023, Stanbic IBTC recorded Profit Before Tax (PBT) of N82.99 billion, up 108 per cent from the PBT recorded in the same period for 2022. Profit After Tax (PAT) of N67.92 billion was achieved in the first half of 2023, up 121 per cent for the same period in 2022.
Driven by robust growth across its revenue streams, the company’s net interest income rose by 44 per cent, amounting to N72.68 billion. Additionally, non-interest revenue surged by an impressive 57 per cent, reaching N98.62 billion.
Dr. Demola Sogunle, Chief Executive, Stanbic IBTC reiterated that the organisation retained its Fitch AAA (nga) rating, reaffirming its position as the only financial services provider in Nigeria with the highest rating from a global rating agency. He assured that the organisation will continue supporting its clients’ growth by providing solutions that aid their expansion.
