Sterling Bank Plc has released its unaudited full-year 2022 results, reporting a pre-tax profit of N20.06 billion. This represents a 38.63% increase from the N14.47 billion the company reported during the same period in 2021.
See the key details of the financial report below.
Interest income
2022 FY: N127.69 billion
2021 FY: N110.97 billion
Change: +15%
Total operating income
2022 FY: N115.89 billion
2021 FY: N97.13 billion
Change: +19.13%
Total operating expenses
2022 FY: N87.25 billion
2021 FY: N72.83 billion
Change: +19.79%
Pre-tax profit
2022 FY: N20.06 billion
2021 FY: N14.47 billion
Change: +38.63%
Net Profit after tax
2022 FY: N18.64 billion
2021 FY: N13.52 billion
Change: +37.87%
Earnings per share
2022 FY: 65 kobo
2021 FY: 47 kobo
Change: +38.29%
Bottom line: The growth in pre-tax profits was due to the increase in interest income boosted by loans and advances to customers and credit-related fees and commissions.
