Sterling Bank releases unaudited financial report for the period ended December 2019

Sterling Bank Plc has released its group unaudited condensed and interim financial statements for the period ended December 31st, 2019.  The report showed a 17.2% increase in profit after tax. See the summary below.

Gross Earnings: Sterling Bank’s gross earnings for the period was N149.4 billion, indicating a 0.5% increase compared to N148.7 billion that was recorded during the same period in 2018.

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Profit before tax: During the period under consideration, Sterling Bank reported a profit before tax of N10.9 billion. Compared to N9.2 PBT that was reported during the same period in 2018, there was a 15% increase.

Profit after tax: This also increased by 17.2% to N10.8 billion, up from N9.2 billion in 2018.

Both basic and diluted earnings per share for the period was put at N0.38, higher than N0.32 in 2018.

Earlier today, Sterling Bank’s share price opened trading on the Nigerian Stock Exchange at N1.68. It is currently trading N1.61, down N0.07.

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