Sterling Bank Plc Releases Audited Results For The Year Ended 31 December 2011
Declares Dividend of 10 kobo Per Share
Lagos, April 13, 2012 – Sterling Bank Plc (NSE: STERLNBANK/ Reuters: STBP.LG) – the ‘Bank’ - today reported its full year audited results for the financial year ended December 31, 2011.
Speaking on the results, Yemi Adeola, Managing Director/CEO said:
The Bank’s performance in 2011 underscores once again our ability to attain growth despite challenging economic conditions. We recorded impressive growth in key performance indicators. Gross earnings rose 49% to N45.2 billion driven by strong improvements in non-interest income, while profit after tax and extra-ordinary income grew 60% to N6.7 billion. Our key ratios were on target. Return on average equity was 20%, while the ratio of non-performing loans to gross loans was 4.8%.
----------------------------------------------------------------------------------------------
Note: Click on the PDF - Download this Icon to get a copy of this newsletter.
Download this: 