LAGOS, Nigeria — Eight subsidiaries of Stanbic IBTC Holdings Plc with separately reported results generated a combined profit before tax of about ₦113.37 billion in the nine months ended September 30, 2026.
Together they recorded total income of ₦175.80 billion and profit after tax of ₦75.05 billion. One subsidiary, Zest Payment Services, posted a loss.
Three businesses account for most of the combined profit. Stanbic IBTC Pension Managers Limited earned ₦52.58 billion before tax, Stanbic IBTC Asset Management Limited ₦41.34 billion and Stanbic IBTC Capital Limited ₦14.32 billion. Together they contributed about ₦108.25 billion of the total.
Pension Managers’ income came mostly from non-interest sources. It generated ₦87.10 billion in total income, of which ₦77.36 billion was non-interest revenue, and it posted profit after tax of ₦34.87 billion. Operating expenses were ₦34.53 billion, including staff costs of ₦13.21 billion.
Asset Management recorded total income of ₦54.29 billion, with ₦51.80 billion from non-interest sources. Its profit after tax was ₦27.23 billion. The source describes this as consistent with a business earning management and administration fees.
Capital reported total income of ₦23.26 billion, profit before tax of ₦14.32 billion and profit after tax of ₦9.46 billion.
The smaller subsidiaries contributed less. Stockbrokers recorded ₦2.41 billion before tax, Insurance Brokers ₦1.62 billion, Trustees ₦1.23 billion and Ventures ₦549 million. Zest Payment Services posted a pre-tax loss of ₦683 million, and its operating expenses exceeded its total income.
Profit after tax was lower than profit before tax for the group, reflecting tax charges at several subsidiaries. The source notes that individual tax positions differ, so the gap should not be read as one tax rate across the businesses.
Stanbic IBTC Holdings Plc reported group profit before tax of ₦531.88 billion for the nine months, up 35.05% from ₦393.84 billion a year earlier. Third-quarter pre-tax profit rose 26.80% to ₦190.31 billion. The subsidiaries’ ₦113.37 billion is a portion of that group result.
