Sterling Bank Grows Income By 19.1% For H1

Sterling Bank Plc has reported a net interest income growth of 19.1 per cent to N30.4 billion for the half-year ended June 30, 2019 as against N25.5 billion for the corresponding period of 2018.

Overall the bank recorded a 5.5 per cent improvement in operating income and a profit after tax of N5.66 billion.

Speaking on the financial performance, Mr Abubakar Suleiman, Chief Executive Officer of Sterling Bank said the underlying half-year performance was a concerted effort in improving the quality of our funding base, increasingly through digital products and initiatives.

“Though top-line earnings were impacted by a selective approach to lending, the Bank remained focused on building a sustainable business model and continued to see considerable improvement across business lines, particularly our retail and consumer and digital and transactional banking businesses,” he said.