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Home   >   Market - Finance   >   Earnings   >   Sterling Bank Reports Q1, 2012 Earnings of N 17 billion, Net Income of N 1.3 billion

Sterling Bank Reports Q1, 2012 Earnings of N 17 billion, Net Income of N 1.3 billion

By on May 11, 2012

Sterling Bank recently reported its first quarter earnings. The bank took made N 17 billion in gross earnings, up 78.8% from the

N 9.6 billion it made in Q1, 2011.

Interest income was up 116% at N13.6 billion from N 6.2 billion over the same period in the preceding year.

Profit before tax mushroomed 24% to N 1.56 billion, from N 1.26 billion in Q1, 2011.

Net income leaped 16% to N 1.3 billion from N 1.1 billion over the previous year.

The company grew its loan book by 8.2% to N 177.7 billion, up from N 164.2 billion in the previous year.