As of the end of December 31, 2022, Sterling Bank’s profit after tax increased by 28.5% to N19.3 billion from N15 billion during the same period of the 2021 fiscal year.
In a statement regarding its results on the Nigerian Exchange, the bank made this disclosure.
From N1.62 trillion at the end of 2021, Sterling’s assets increased by 14.4% to N1.86 trillion at the end of 2022.
Additionally, its gross profits for the time period increased by 16.6% to N175 billion from N150 billion in 2021.
The bank also revealed that customer deposits rose by N1.33 trillion, or 9.8%, in 2022.
It ended the year with net operating income of N108 billion, up 20.9% from the amount recorded in 2021.