Stanbic IBTC Pension Managers reported an annual income of N61.09 billion in the year ending December 2023 representing a 16.5% increase from the N52.5 billion reported same period in 2022.
Stanbic IBTC Pension contributed about 17.2% to the group’s revenue of N355.16 billion in 2022.
The earning is gross of consolidations and intergroup eliminations. The group owns about 88% equity of Stanbic Pensions Ltd shares.
Stanbic IBTC Pension is Nigeria’s largest pension fund asset mangers in the country with over N6 trillion in Asset Under Management.
The company also reported a profit after tax of N25.8 billion in the year under review, which compares to N22.8 billion same period in 2022
Within the Stanbic IBTC Group’s array of subsidiaries, Stanbic IBTC Pension Managers distinguished itself as the third highest in terms of profitability, following closely behind Stanbic IBTC Bank and Stanbic Holdings Plc.