Sterling Bank projects profit after tax of N2.99 billion in Q4 2021.

Sterling Bank Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

  • Gross earnings is expected to hit N40.19 billion
  • Interest income is projected at N30.8 billion.
  • Net operating income is expected to hit N28.8 billion.
  • Operating expenses projection of N25.6 billion
  • Tax is projected at N259.7 million
  • Profit after tax is projected at N2.99 billion

See link to results.

 

Sterling Bank announces board meeting, close period ahead of H1 2021 result release.

Sterling Bank Plc has announced that its Board of Directors will be meeting on Thursday 29th July, 2021 at 10:00am to take decisions on the company’s audited financial statements for the period ended 30th June, 2021.

Sterling Bank also informed stakeholders and the investing public that it would observe its closed period starting from 1st July, 2021 until 24 hours after the unaudited 2019 financial statements is released.

This is according to a notice signed by the company’s secretary, Temitayo Adegoke, and sent to the Nigerian Exchange Group Limited (NGX), as seen by Nairametrics.

The disclosure is in line with Rule 17.18 of Part 2 (Issuer’s Rules) of the NSE’s Rule Book (2015) which states that: ‘’ The period of closure shall be effective from fifteen (15) days prior to the date of any meeting of the Board of Directors proposed to be held to consider any of the matters referred to above or the date of circulation of agenda papers pertaining to any of the matters referred to above, whichever is earlier, up to twenty-four hours after the price-sensitive information is submitted to the Exchange’’

The trading window shall thereafter be opened. Every issuer shall notify the Exchange in advance of the commencement of each closed period.’’

A close period is a period before the release of a company’s result when those with material information that could impact the firm’s share price, are prohibited from trading the shares of the company. Those with enough material information that could influence share price include company’s directors, audit committee members, managers etc.

 

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.