In 2021FY, Stanbic IBTC Holdings Plc. (STANBIC)’s gross earnings plunged by 11.86% YoY to sit at NGN206.64bn, its lowest in five years. This was on the back of decline in both interest and non interest income streams. The major drag, however, was non-interest income which dropped by23.20% YoY, owning to the substantial decline (-74.50% YoY) in trading income. Nevertheless, fee and commission revenue grew by 17.53% YoY mainly due to higher asset management fees which advanced by 16.38% YoY and contributed 61.96% YoY to total fees revenue. On the other hand, interest income fell marginally by 0.97% YoY to NGN104.75bn. This came as the effect of the 38.70% YoY drop in interest on investment securities (due to low yield) outweighed the 27.20% YoY increase in interest on customer loans.
