Sterling Bank Plc forecasts profit after tax of N4.04 billion in Q3 2021.

Sterling Bank Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).

  • Gross earnings were projected to hit N38.4 billion.
  • Interest income was projected at N29.82 billion.
  • Net operating income projection of N26.5 billion.
  •  Operating expenses were projected at N22.11 billion.
  • Tax projections of N351.4 million
  • Profit after tax is projected at N4.04billion.

See link to forecasts.

2021 Q1 Results: Sterling Bank’s profit beat forecasts, surge by 16% to N2.4 billion.

Sterling Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income for the period was N14.35 billion. (-7.1% YoY)
  • Net fees and commission income was N3.7 billion. (+25.1% YoY)
  • Operating income of N20.09 billion. (+0.6% YoY)
  • Total expenses of N15.82 billion. (-4.5% YoY)
  • Profit for the period was N2.4 billion. (+15.98% YoY)
  • Earnings per share of 8 kobo Vs 7 kobo YoY.

See link to results.

Sterling Bank Plc posts profit after tax of N11.2 billion in FY 2020

Sterling Bank Plc released its full-year audited results for the year ended 31st December 2020.

  • Net interest income for the year was N62.15 billion. (-3.9% YoY)
  • Net fees and commission income was N13.09 billion. (-10.4% YoY)
  • Operating income was N89.6 billion. (+2.3% YoY)
  • Total expenses of N69.3 billion. (-2.5% YoY)
  • Profit after tax was N11.2 billion. (+6.04% YoY)
  • Earnings per share of 39 kobo vs 37 kobo YoY.
  • A dividend of 5 kobo was declared.

See link to results.

2020 FY: Sterling Bank Plc proposes dividend of N1.44 billion for shareholders.

The Board of Directors of Sterling Bank Plc has proposed a dividend of 5 kobo for every share of 50 kobo held by shareholders, amounting to a total of N1.44 billion for the year ended 2020.

This is according to a disclosure signed by the Bank’s secretary, Temitayo Adegoke, and sent to the Nigerian Stock Exchange.

According to the notice, dividends will be paid electronically to qualified shareholders’, whose names appear in the Register of Members as at close of trading on 16th of April, 2021.  Other qualifying conditions are;

  • Shareholders must have completed the e-dividend registration.
  • In addition, shareholders must have mandated the Registrar (Pace Registrar Limited) to pay their dividend directly into their bank accounts.

What you should know:

  • The Bank is expected to discuss this proposed dividend in its 59th Annual General Meeting scheduled to hold on 6th of May, 2021 at MUSON Centre, Marina- Lagos.
  • The Bank had earlier reported a profit after tax of N11.2 billion in FY 2020, indicating an increase of 6.04%.
  • The Bank closed trading on 1st of April, 2021 with a share price of N1.85

For more information about the proposed dividend, click HERE.

Sterling Bank projects N3.7 billion profit in Q2 2021.

Sterling Bank Plc has released its earnings forecasts for the second quarter of 2021.

  • Gross Earnings is projected at N37.05 billion.
  • Interest income is projected at N29.17 billion.
  • Operating expenses is projected at N20.93 billion.
  • Profit before tax is projected at N4.07 billion.
  • Tax is projected at N325.35 million.
  • Profit after tax is projected at N3.74 billion.

See link to forecasts.