Sterling Bank Plc on Thursday declared gross earnings of N111.4 billion for the financial year ended Dec. 31, 2016.
This is contained in the audited result statement issued by the bank in Lagos.
The gross earnings closed higher at N111.4 billion in contrast with N111 billion declared in the corresponding period of 2015.
The bank during the review period posted a profit before tax of N6.0 billion compared with N11 billion achieved in the comparative period of 2015.
Profit after tax stood at N5 billion in contrast with N10 billion posted in the previous year.
The financial highlights showed that net interest income increased by 41.6 per cent to N56 billion against N39.5 billion posted in the corresponding period of 2015.
The bank stated that the growth was on account of a 22.5 per cent increase in interest income and a 4.2 percent increase in interest expense.
The bank’s net…
Read More…..PM News
