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Nigeria's Stanbic IBTC says 2012 pretax profit up 16 pct
April 19, 2013 / 10:27 AM / 5 years ago

Nigeria's Stanbic IBTC says 2012 pretax profit up 16 pct

LAGOS, April 19 (Reuters) - Nigerian unit of South Africa’s Standard Bank said on Friday its 2012 pretax profit rose 16 percent to 11.7 billion naira ($74 mln, as against 10.1 billion naira a year earlier.

Gross earnings at Stanbic IBTC Bank rose to 91.9 billion naira duing the period from 63.4 billion naira a year ago, it said in a filing with the Nigerian Stock Exchange.

The mid-tier Nigerian lender proposed to pay a dividend of 0.10 naira per share.

Stanbic IBTC recently won approval to transfer all its subsidiaries in Nigeria to a newly-formed holding company, Stanbic IBTC Holdings, in line with regulatory requirements to separate core lending from capital market business. ($1 = 158.5 naira) (Reporting by Oludare Mayowa; Editing by Chijioke Ohuocha)

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