Sterling Bank projects N37bn earnings, N3.7bn profit in Q2 2021

Sterling Bank projects N37bn earnings, N3.7bn profit in Q2 2021

Sterling Bank Plc, one of Nigerian commercial banks quoted at the Nigerian Stock Exchange said it expects to net N37.049 billion gross earnings in the second quarter of the year spanning April 1 to June 30, 2021.

Its cashflow projection for the period filed at the Nigerian bourse also indicates that the lender is looking to realise 10.1% of the earnings, amounting to N3.742 billion as profit for the three-month period after fulfilling expected tax obligations totalling N325.348 million from initial pre-tax gain of N4.067 billion.

While the lender projects N29.17 billion interest income and N9.8 billion as interest expenses, it puts excepted net revenue from funds at N19.37 billion.