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.
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.
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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.
