Finance

Sterling Bank Predicts N2.3 Billion Profit After Tax for Q1 2021

Sterling Bank has predicted N34.937 billion gross earnings for the first quarter of 2021, according to the latest filing from the bank.

In the filing titled “Sterling Bank Plc Earnings and Cashflow Forecast for the First Quarter Ending March 31, 2021”, the bank estimated interest income at N28.027 billion while interest expenses was projected at N10.303 billion.

Sterling Bank Financial Highlights

Net Revenue from Funds N17.724 Billion
Credit Impairment Charges N2.257 Billion
Exceptional Items   –
Other Income N6.910 Billion
Net Operating Income N22.377 Billion
Operating Expenses N20.102 Billion
Profit/Loss Before Tax N2.275 Billion
Forecast Taxation N182.007 Million
Profit/Loss After Tax N2.093 Billion
Net Cash Generated from Operating Activities N11.702 Billion
Cashflow from Investing Activities N28.178 Billion
Cashflow from Financing Activities N12.384 Billion
Net Decrease in Net Cash & Cash Equivalents N4.092 Billion

 
Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Samed Olukoya
4 years ago

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