Financial institution, Stanbic IBTC Holdings Plc, has released its half-year 2023 financial report, which indicated a 121. 46 per cent growth
Commenting on the results, the Chief Executive Stanbic IBTC, Dr Demola Sogunle, said, “The first half of 2023 was an eventful one for us as an organisation within the Nigerian operating environment. Events such as the general elections and cash scarcity led to relatively slower business activities at the beginning of the year, causing the Stanbic IBTC Bank Purchasing Manager Index to print below 50 index points.
“Business activities, however, picked up in the second quarter, with the PMI moving back above 50 points in April 2023 and closing at 53.2 in June 2023, following the improvement in access to cash, increase in customer demand and business expansion. We reported significant growth in our key income lines during the period under review.
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