April 1, 2021

By Evans Charles InvestAdvocate

Lagos (INVESTADVOCATE)-Sterling Bank Plc said on Wednesday its pretax profit for the period ended December 31, 2020 grew +15.9 percent to N12.4 Billion from 9.48 billion posted a year ago.

Profit after tax (PAT) of the lender increased +6.0 percent to N11.24 billion from N10.6 billion declared in the same period of 2019.

Gross earnings of Sterling Bank declined -17.5 percent from N150.19 billion in 2019 end to N138.89 billion in the review period of 2020; the lender said in a filing with the Nigerian Stock Exchange (NSE).

The bank proposed a five (5) kobo per share dividend payment to its investors in the review period of 2020 compared to three (3) kobo paid in 2019 end; indicating an increase in  dividend payment of  66.7 percent.