Highlights of Sterling Financial Holdings Company Plc Earnings Report

Image Credit: Sterling Bank

June 4, 2024/Futureview Research

Sterling Bank Plc, in its FY’2023 financial report released on May 28, 2024, maintained its position as a leading financial institution, boasting total assets reaching N2.53 trillion. The company experienced a moderate 27% increase in Gross earnings during the review period, with net interest income rising by 9% to N83.38 billion in FY’2023. Despite facing increased interest expenses (40%) and operating expenses (13%), the company demonstrated resilience, reporting a profit before tax of N22.7 billion (9% year-on-year) and a profit after tax of N21.58 billion (12% year-on-year).

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