Bloomberg News

Standard Bank’s Stanbic IBTC Unit Posts 9.8% Increase in Profit

November 01, 2011

Oct. 28 (Bloomberg) -- Stanbic IBTC Bank Plc, a unit of Standard Bank Group Ltd., said its profit rose 9.8 percent in the nine months through September as revenue advanced.

Net income increased to 7.88 billion naira from 7.18 billion naira a year earlier, the lender said in a statement published on the website of the Nigerian Stock Exchange today.

Revenue climbed to 49.59 billion naira from 41.11 billion naira, Stanbic IBTC said.

To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net


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