Stanbic IBTC Holdings Plc posted a profit of ₦370.4 billion in the nine months to September 30, 2026, up from ₦278.5 billion in the same period in 2025. This represents a 33% increase, even though income from electronic banking fees declined.
The group earned nearly ₦91.9 billion more than it did a year earlier. However, its unaudited results show that the growth did not come from one source alone. While electronic banking fees fell, income from account transactions and card-related commissions increased.
This shows that electronic banking fees were not the main driver of Stanbic IBTC’s stronger performance. Other sources of income, particularly non-interest revenue, money earned outside traditional lending, also played an important role.
Profit before tax rose by about 35%, from ₦393.8 billion to ₦531.9 billion. Total income also increased by nearly 25%, reaching ₦817.8 billion from ₦655.2 billion a year earlier.
Non-interest revenue drives income growth
One of the biggest changes in the results was the rise in non-interest revenue, which more than doubled to ₦438.0 billion from ₦208.7 billion in the corresponding period of 2025.
Non-interest revenue covers income that does not come directly from the difference between interest earned on loans and investments and interest paid on deposits and other funding. It can include fees and commissions, trading income and other gains.
Net interest income, meanwhile, moved in the opposite direction, falling to ₦379.8 billion from ₦446.5 billion, a decline of about 14.9%. This means the group’s higher total income came despite lower net interest income. The increase in non-interest revenue more than offset that decline, helping lift overall earnings.
The figures do not mean that transaction fees alone drove the increase. Non-interest revenue includes several categories, and the financial statements show that the group’s earnings depend on a wider mix of banking, investment and financial services.
Stanbic IBTC generated ₦3.01 billion from electronic banking fees in the first nine months of 2026, down from ₦3.44 billion in the same period last year. That represents a fall of roughly 12.5%.
Electronic banking fees are income associated with electronic banking services. However, the report on the category does not provide a breakdown of the individual channels or services responsible for the decline. The drop is notable because the group’s overall profit rose by 33% over the same period. It shows that the growth in earnings did not translate into higher income from this particular fee category.
Similar read: OPay’s US IPO prospectus outlines share sale, up to $200 million Standard Bank investment
However, the decline does not establish that customers used digital banking less frequently. Fee income can change for several reasons, including pricing, the mix of services used and the fees charged on different transactions. The published figures do not identify which factor explains the fall.
Account and card fees moved higher, and where Stanbic profit came from
Other transaction-related income also increased. Account transaction fees rose slightly to ₦8.19 billion from ₦7.95 billion, a 3% increase. These fees come from transactions carried out on Stanbic IBTC’s customer accounts.
Card commissions grew by 13.7% to ₦7.15 billion from ₦6.29 billion. The increase came from card-related services and transactions. This shows that transaction-related income did not move in one direction. Electronic banking fees fell, while account transaction fees and card commissions increased. However, the results do not show whether the growth came from higher transaction volumes, pricing changes or changes in customer behaviour.
Stanbic IBTC’s business segments also performed strongly. Personal and Private Banking profit rose to ₦275.1 billion from ₦208.2 billion. Insurance and Asset Management increased to ₦66.2 billion from ₦45.7 billion, while Corporate and Investment Banking grew to ₦21.5 billion from ₦15.8 billion.
Business and Commercial Banking was the only weaker segment, with profit falling to ₦7.6 billion from ₦8.8 billion.
The figures show that Stanbic IBTC’s profit growth came from several parts of the business, not electronic banking fees alone. Stronger overall earnings can exist alongside weaker income from one digital banking category, with non-interest revenue and other business lines helping to drive performance.
Read also: OPay makes $90.9 million profit in six months as it files for a US IPO
Technext Newsletter
Get the best of Africa’s daily tech to your inbox – first thing every morning.
Join the community now!
