Stanbic IBTC’s Fintech Arm, Zest, Achieves Profitability with ₦543 Million Q3 Gain
Zest, the fintech subsidiary of Stanbic IBTC Holdings, has marked a significant milestone by achieving its first profitable quarter since launching in 2023. This positive turnaround underscores the increasing maturity and viability of bank-backed fintech ventures as they transition from initial periods of losses to sustainable and profitable growth models within the African financial technology landscape.
# Zest’s Path to Profitability
According to Stanbic IBTC’s financial report for the period ending September 30, 2025, Zest reported a profit after tax of ₦543 million in the third quarter of 2025. This is a remarkable recovery from the ₦1.89 billion loss after tax recorded during the same period in 2024. Notably, this profitability was achieved despite an increase in operating costs, which rose to ₦2.12 billion in Q3 2025 from ₦1.26 billion in the first half of the year. This upward trend in profitability was also foreshadowed in the first half of 2025, where Zest reduced its loss after tax by 58.8% to ₦389 million, compared to a loss of ₦945 million the previous year. This improvement was largely driven by a substantial fourteenfold increase in revenue, reaching ₦874 million in H1 2025 compared to ₦61 million in the same period of 2024.
Zest’s journey to profitability highlights the potential for fintech subsidiaries of established banks to thrive in the evolving African financial services sector. The company’s ability to generate substantial revenue growth while managing operating costs demonstrates a promising trajectory for future success and contribution to Stanbic IBTC’s overall performance.
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