Sterling Bank declares N32.92bn gross earnings in Q1 2020

Sterling Bank on Thursday published its first quarter report for the period ended 31 March, 2020.

In the unaudited financial statement, Sterling Bank reported gross earnings of N32.92 billion, down by 6.67% when compared to the gross earnings of N35.27 billion reported in Q1 2019.

Profit before tax for the period under review was N2.22 billion, down by 32.20% from N3.27 billion reported in the first quarter of 2019.

The Bank closed the first quarter of 2020 with profit after tax of N2.07 billion, down by 36.27% from N3.24 billion reported in the first quarter of 2019.

The earnings per share of the company dropped to 7 kobo from 11 kobo reported in Q1 2019.

With reference to the share price of N1.32, the P.E ratio of Sterling Bank is calculated as 18.86x with earnings yield of 5.30%.

Leave a Reply

Your email address will not be published. Required fields are marked *