By InvestAdvocate

Lagos (INVESTADVOCATE)-Mid-tier lender, Sterling Bank Plc on Friday said its pretax profit for the period ended September 30, 2016 declined 26.9 percent to N6.07 billion from N8.30 billion declared a year ago.

Post-tax profit of the bank also dropped 26.6 percent to N5.53 billion from N7.54 billion declared the same period of last.

Gross earnings of Sterling Bank inched down 2.6 percent to N79.65 billion from N81.81 billion recorded the nine-month period of 2015; the lender said in a filing with the Nigerian Stock Exchange (NSE).

Shares of Sterling Bank at the close of trading on the domestic bourse plunged 4.21 percent to 0.91 kobo from 0.95 kobo posted the previous session to loss by 0.04 kobo per share.