Sterling Bank Projects N38.360 Billion Gross Earnings for Q3 2021

Sterling Bank has predicted a profit after tax of N4.040 billion for the third quarter (Q3) ending September 30, 2021.

The lender projected gross earnings of N38.360 billion for the quarter while interest income was estimated at N29.817 billion.

Sterling Bank puts interest expenses at N9.602 billion in the third quarter and expected net revenue from funds to hit N20.215 billion.

Credit impairment charges was estimated at N2.257 billion. The bank forecast net operating income of N26.502 billion while operating expenses was predicted at N22.109 billion in the quarter.

Sterling Bank Cashflow Projections for the Third Quarter 2021

Gross Earnings N38,360,050,000
Interest Income N29,817,202,000
Interest Expenses N9,601,953,000
Net Revenue From Funds N20,215,249,000
Credit Impairment Charges N2,256,580,000
Exceptional Items –
Other Income N8,542,848,000
Net Operating Income N26,501,517,000
Operating Expenses N22,109,376,000
Profit/Loss Before Tax N4,392,141,000
Forecast Taxation N351,371,000
Profit/Loss After Tax N4,040,770,000
Cash From Operating Activities –
Operating Cashflow Before Working Capital Changes –
Net Cash Generated From Operating Activities N69,608,271,000
Cashflow From Investing Activities – N69,208,535,000
Cashflow From Financing Activities N15,610,002,000
Net Decrease In Net Cash & Cash Equivalents N16,009,737,000
Cash/Bank Balance at the Beginning of the Period N93,978,178,000
Cash/Bank Balance at the End of the Period N109,987,915,000