• Companies
  • Updated: January 31, 2023

Sterling Bank Records N14 Billion Profit

Sterling Bank Records N14 Billion Profit

Sterling Bank Plc has released its unaudited financial statements for the year ending  December 31, 2022, which revealed a 38.63% increase in profit before tax from the N14.47 billion recorded in the previous year to N20.06 billion, while net profit after tax grew by 37.87% from N13.52 billion in 2021 to N18.64 billion.

During the period under review, Sterling Bank reported a 19.79% increase in total operating expenses from N72.83 billion recorded in 2021 to N87.25 billion.

The bank also recorded an interest income of  N127.69 billion, which reflects a 15% increase when compared to the N110.97 billion recorded in 2021.

For the 2022 financial year, it recorded a total operating income of N115.89 billion, from the N97.13 billion recorded in 2021, which indicates a 19.13% increase. 

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