Few days after the news of a successful deal between Standard Bank of South Africa and IBTC Chartered Bank plc, the bank has released an impressive first quarter result for the period ended June 30, 2007.

In the result released, turnover increased by 67 percent, from N4.60 billion in 2006 to N7.70 billion in 2007. Profit before tax grew from N1.80 billion in 2006 to N3.00 billion in 2007, an increase of about 66 percent. Profit after tax also moved upwards, from N1.30 billion in 2006 to N2.2 billion in 2007.

The strategic alliance between Standard bank and IBTC is expected to boost the earnings of the renowned investment bank amongst other things.

Cutix Plc has also released its full year result, and has declared a dividend of N0.10 and a bonus of 1 for 1. Regiter closes on September 19, 2007.