{"id":71552,"date":"2023-05-05T09:28:57","date_gmt":"2023-05-05T08:28:57","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=71552"},"modified":"2023-05-05T09:28:57","modified_gmt":"2023-05-05T08:28:57","slug":"sterling-bank-posts-n19-3-billion-profit-after-tax-in-2022","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-posts-n19-3-billion-profit-after-tax-in-2022\/","title":{"rendered":"Sterling Bank Posts N19.3 Billion Profit After Tax\u00a0 In 2022"},"content":{"rendered":"

One of Africa\u2019s fastest growing companies and Nigeria\u2019s leading commercial bank, Sterling Bank, has reported a growth of 28.5 percent in its profit after tax for 2022.<\/p>\n

The bank\u2019s profits grew to N 19.3 billion for the year ended 31 December 2022 in comparison to N15 billion as reported by the bank for the end of the 2021 financial year. This was contained in the earnings release for the bank as shared with the Nigerian Exchange (NGX).<\/p>\n

Sterling\u2019s assets grew assets by 14.4 percent to end 2022 with N 1.858 trillion, from N 1.624 trillion at the end of 2021. Also, its gross earnings for the period jumped by 16.6 percent to N 175 billion from N 150 billion recorded in 2021. The bank also reported an increase in customers\u2019 deposits in 2022, N 1.327 trillion; a 9.8 percent increase compared to 2022. Furthermore, the bank closed out its net operating income at N 108 billion; a 20.9 percent increase compared to 2021\u2019s of N89 billion.<\/p>\n

Reflecting on the year\u2019s performance, Chief Executive of Sterling Bank, Abubakar Suleiman, said \u201c2022 commenced with great expectations for global growth on the back of the recovery achieved in 2021. However, the outbreak of conflict in Eastern Europe disrupted supply chains, elevated inflation, and undermined growth globally. These developments also impacted the Nigerian economy. Despite the macroeconomic setbacks, our business showed remarkable resilience as we adapted to our environment and continued to deliver value.\u201d<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The reported figures, as shared with the Nigerian bourse, mark a fitting swan song for a spectacular 2022 which saw the bank, amongst other achievements, get named as the Best Bank In Nigeria by an independent survey conducted by AFRINVEST, win the prestigious Great Place To Work Award for the fifth consecutive year, and win the football championship of the Nigerian Bankers\u2019 Games.<\/p>\n

The bank has maintained and increased momentum in 2023 with her citation as Africa\u2019s Most Valuable Commercial Bank Brand for 2023 in a poll conducted by GeoPoll and Kantar for African Brand Magazine, having been named a top three employer in Nigeria by LinkedIn in the social network\u2019s<\/p>\n","protected":false},"excerpt":{"rendered":"

One of Africa\u2019s fastest growing companies and Nigeria\u2019s leading commercial bank, Sterling Bank, has reported a growth of 28.5 percent in its profit after tax for 2022.<\/p>\n","protected":false},"author":6,"featured_media":71553,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[2371],"coauthors":[2391],"class_list":["post-71552","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-sterling-bank-plc"],"yoast_head":"\nSterling Bank Posts N19.3 Billion Profit After Tax\u00a0 In 2022 - National Wire<\/title>\n<meta name=\"description\" content=\"One of Africa\u2019s fastest growing companies and Nigeria\u2019s leading commercial bank, Sterling Bank, has One of Africa\u2019s fastest gro\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-posts-n19-3-billion-profit-after-tax-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sterling Bank Posts N19.3 Billion Profit After Tax\u00a0 In 2022 - 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