Business Journal


Stanbic IBTC Reports N83bn Profit in 2020, Holds AGM May 27

In its audited financial statements for the period ended 31 December 2020, Stanbic IBTC achieved a pre-tax profit of N94.7 billion while the profit after tax for the same period was N83 billion.

The bank is also set to hold its Annual General Meeting (AGM) on Thursday, 27 May 2021, at 10.00 am. The AGM would be by proxy, in line with the coronavirus safety protocols.

Announcing the AGM in a notice to its shareholders signed by the company’s secretary, Chidi Okezie, Stanbic IBTC Holdings PLC stated that it would transact ordinary and special businesses in line with regulatory requirements. Some of the considerations at the AGM would include receipt and consideration of the audited financial statements for the 2020 financial year, dividend declaration and re-election of retiring directors, among other businesses.

“In order to ensure the safe conduct of the company’s 9th Annual General Meeting in accordance with the guidelines issued by the Corporate Affairs Commission as well as the Federal Government of Nigeria, shareholders are hereby informed that attendance at this AGM shall only be by proxy and shall be limited to a maximum of 20 people,” Okezie said.

“As a responsible corporate citizen, Stanbic IBTC Holdings PLC is aware of the unique challenges posed by the COVID-19 pandemic and mindful of the need for all to take action to check the spread of the virus. To this end, the Group had earlier activated its internal COVID-19 Business Continuity Management Plan, in addition to implementing the safety measures recommended by federal and state governments, health authorities, and various regulatory agencies.”




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