Sterling Bank's Gross Earnings Grow By 59 Per cent in Six Months

This was contained in the result posted by the Nigerian Stock Exchange (NSE) on Thursday in Lagos.

Reports have it that the bank posted gross earnings of N32.69 billion, up from the N20.52 billion it recorded in the corresponding period of 2011.

According to the NSE, the bank’s half year profit before tax stood at N3.25 billion, compared with the N2.35 billion it posted in 2011.

The growth represented an increase of 38 per cent.

Also, the bank’s profit after tax rose to N3.01 billion, a jump from the N2.19 billion it recorded in the comparative period of 2011, representing an increase of 37 per cent.

The bank’s total assets increased to N511.76 billion, a raise from the N504.72 billion it recorded in the comparative period of 2011.

Its net assets stood at N43.05 billion as against the N41.61 billion the bank posted in the corresponding period of 2011.