Stanbic IBTC Holdings Plc FY 2018 Conference Call and Earnings Presentation - The Key Takeaways


Friday, March 08,  2019  04:03 PM / Proshare MARKETS                            

Stanbic IBTC Holdings Plc held its FY 2018 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals.

The management of the bank in its review of the macro-economic and its operating environment stated that the Nigerian economy improved fairly in 2018 with real GDP growing by 1.9% as against 0.8% in 2017 while the country’s foreign reserves position dipped from a peak of $47.8bn in June 2018 to $41.6bn in November 2018 as the emerging markets contagion triggered foreign portfolio outflows.

It stated further that Nigeria’s currency was largely stable in 2018 amid continued efforts from the CBN to tame foreign outflows as the Naira averaged N361.77 to the US dollar in 2018.

Stanbic IBTC Holdings Plc recorded a gross earnings of N222.360bn in FY 2018 as against N212.434bn in FY 2017, up by +4.67% YoY. The growth in earnings can be attributed largely to 15% growth in non-interest income while net interest income was down by 6pct as interest income declined by 4% to N118.4 billion in FY 2018 from N122.9 billion in FY2017 largely due to declining interest rate environment and asset pricing as well as 2% growth in interest expense. The bank’s Profit After Tax increased by 54%  YoY from N48.4bn in FY 2017 to N74.4bn in FY 2018.

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The bank’s balance sheet/statements of financial position reflected that it recorded growths in its loans and advances to customers, customer deposits and total assets.

At the close of trading today, the share price of Stanbic IBTC Holdings Plc closed flat at N48.00k.

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In a nutshell, below are the key takeaways from the FY 2018 earnings presentation made by the bank’s management;

  1. The bank’s asset management, custody, brokerage and capital market businesses witnessed improved business patronage which contributed to the growth in non-interest revenue
  2. Its profitability impacted its EPS by 53% as it moved from 460k in FY2017 to 704k in FY2018
  3. The bank intends to keep its NPL ratio below 5% in 2019.
  4. The bank expects assets under management to grow by double digits in 2019.
  5. In terms of regulatory changes in relation to its wealth business segment, moving forward in 2019 the bank will maintain the momentum of positive disposition to regulatory changes with continuous engagements with the various regulatory bodies to introduce rules and regulations to promote industry growth and customer experience.

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