Stanbic IBTC Bank has unveiled its upgraded Enterprise Online 3.0 platform, designed to elevate business banking and provide a seamless digital experience for its corporate clients.
The cutting-edge platform offers advanced features, improved functionality and enhanced security, empowering businesses to manage their financial operations efficiently and effectively.
In a position paper seen by Nigerian Tribune, the bank noted that in today’s dynamic business world, elite players know that the need for more ease, speed and security drives innovation.
According to the bank, having efficient and reliable online banking tools is not just a convenience but a necessity.
It said: “We understand the evolving challenges faced by our business customers and this is one of the reasons we are excited to announce a significant innovative upgrade to our Enterprise Online platform.
“We have been listening. Several of our valued business customers expressed their desire for more unique features to expand the sphere of online banking after doing business on Enterprise 2.0. We took this feedback seriously and set out to address the stated needs and create a superior online banking experience for businesses.
“We have optimised our systems to improve processing times for both single and bulk transfers.”
These enhancements, according to Stanbic IBTC, are more than just technical upgrades; they are designed to have a real, positive impact on day-to-day operations. With faster processing and self-service options, customers can spend less time on banking and more time growing business.
The business banking landscape is constantly evolving, and at Stanbic IBTC Bank, the lender is committed to staying at the forefront of innovation.
“We invite all our business customers to experience the power of Enterprise Online 3.0. Whether you have used our online platforms for a long time or are considering making the switch, now is the perfect time to discover how Enterprise Online 3.0 can transform your business banking experience,” the bank added.
Meanwhile, Stanbic IBTC Plc reported its second-quarter results, showing pre-tax profits soaring by 80.4 percent to N84.2 billion for the three months ending in June 2024.
The jump in pre-tax profits represents the highest ever recorded for any quarter in the company’s history.
Interest income grew by 123.23 percent from N110.3 billion to N246.1 billion.
Stanbic IBTC’s half-year pre-tax profit has now risen to N147 billion, significantly higher than the N82.9 billion reported in the same period in 2023.
The bank holding company is now on track to hit the N200 billion pre-tax profit mark by the end of 2024.
Operating income: N145.7 billion, +66.4 percent; operating expenses: N61.4 billion, +50.3 percent, pre-tax profits N84.2 billion, +80.4 percent.
Other breakdowns are as follows: Loans and advances: N2.17 trillion, +30.3 percent; total deposits: N2.89 trillion, +24.9 percent; total assets N6.1 trillion, +37.1 percent, among others.
Stanbic IBTC performance was largely driven by a surge in interest income earned from loans to customers and interest income from
Interest on loan and advances to customers rose from N91.1 billion as of half year June 2023 to N183.1 billion half year June 2024.
Interest on investment also rose from N16.7 billion to N56.1 billion in the same period as the bank rode on a higher interest environment.
The bank also recorded a mega boost in commission and fees income which rose to N82.9 billion in the first half of the year compared to N51.1 billion.
Included in the income from commissions and fees is a N47.2 billion earned from asset management fees and another N11.7 billion from brokerage and financial advisory fees.
Stanbic IBTC also reported N39.6 billion in “fixed income and currencies” compared to N44.7 billion reported a year earlier.
The bank’s share price closed at N58.95 per share, up 3.6 percent as of mid-day trading. The bank also declared an interim dividend of N2 per share.
