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 |