Earnings Flash: STANBIC BANK Plc. Records 50% PAT Decline in HY’2021Yahya Abdulrahman
Stanbic Plc HY’2021 showed that interest income declined by 19.77% from N55.13 bn in HY’2020 to N44.23 bn in the current period. Net interest income went down by 12.44% from N37.55 bn in HY’2020 to N32.88 bn in HY’2021. Profit before tax declined by 52.85% from N52.41 bn in HY’2020 to N24.71 bn in the current period. Profit after tax went down by 50.13% from N45.20 bn in HY’2020 to N22.54bn in the current period, despite a 69.95% decline in income tax expense. Consequently, Stanbic recorded a 54.18% decrease in earnings per share from N4.19 in HY’2020 to N1.92 in HY’2021. The company proposed an interim dividend of N1.00. Stanbic currently trades at N39.75.
Please find here Stanbic Bank Plc HY’2021 result analysis