Stanbic IBTC Holdings’ Shareholders Approve N25.914bn Dividend

Shareholders of Stanbic IBTC Holdings Plc have approved N25.914 billion dividend for the year ended December 31, 2021.

The shareholders gave their approval at the 10th annual general meeting (AGM). The dividend amounted to N2.00 per share.

Chairman of Stanbic IBTC Holdings, Basil Omiyi, commended the group’s management for the impressive result despite operating in a challenging environment, saying, “we offer our thanks to our very efficient team, who have delivered impressive results and we have once again proved our pedigree in establishing exceptional financial solutions, as several entities across the Group bagged various awards during the year.

“The board of directors is pleased with what the Management has been doing. We appreciate our chief executive for keeping a steady hand on the tiller even through this difficult time and we appreciate the executive management team for their remarkable leadership and for going above and beyond to meet our customers’ needs.”

The chief executive, Stanbic IBTC Holdings, Dr Demola Sogunle, described increased loan volumes and total assets among factors which boosted the group’s financial performance for the 2021 fiscal year.

According to him, “we attained a record high of N946.3 billion on our gross loans, as we prudently grew loan volumes by 44 per cent. This further stabilised our earning capabilities for the foreseeable future, as we continued to manage risk asset quality of our loan book and implement a favourable strategy for all our stakeholders.

“Our total assets increased by 10 per cent to N2.7 trillion as against December 2020, which was N2.5 trillion, while our customer deposits grew from N819.9 billion to N1.1 trillion, a 37 per cent increase.”

Mr Kola Alaga, a shareholder, appreciated the board and management of Stanbic IBTC Holdings for the dedication, hard work and commitment in regularly disbursing the dividends.

He said: “I would like to express my gratitude to the Board of Directors, Management and members of Staff of Stanbic IBTC for a job well done. Despite the economic downturn, the company declared a dividend of 200 kobo which is very impressive compared to other players in the financial industry.”