The following warnings occurred:
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined variable $awaitingusers - Line: 34 - File: global.php(844) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/global.php(844) : eval()'d code 34 errorHandler->error
/global.php 844 eval
/showthread.php 26 require_once
Warning [2] Undefined array key "mybb" - Line: 1952 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 1952 errorHandler->error
/inc/functions_indicators.php 41 my_set_array_cookie
/showthread.php 629 mark_thread_read
Warning [2] Undefined property: MyLanguage::$ratings_update_error - Line: 5 - File: showthread.php(732) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(732) : eval()'d code 5 errorHandler->error
/showthread.php 732 eval
Warning [2] Undefined array key "additionalgroups" - Line: 7162 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 7162 errorHandler->error
/inc/functions_user.php 844 is_member
/inc/functions_post.php 406 purgespammer_show
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "profilefield" - Line: 6 - File: inc/functions_post.php(474) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php(474) : eval()'d code 6 errorHandler->error
/inc/functions_post.php 474 eval
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showimages" - Line: 741 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 741 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showvideos" - Line: 746 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 746 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "invisible" - Line: 1506 - File: showthread.php PHP 8.0.30 (Linux)
File Line Function
/showthread.php 1506 errorHandler->error
Warning [2] Undefined variable $threadnotesbox - Line: 30 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 30 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $addremovesubscription - Line: 79 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 79 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $forumjump - Line: 86 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 86 errorHandler->error
/showthread.php 1533 eval




Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Sterling Bank records 63.4 per cent half-year profit
#1
Sterling Bank records 63.4 per cent half-year profit



                               [Image: Sterling-Bank-1062x598.jpg]
Sterling Bank Plc, has reported a 63.4 per cent surge in net profit for the first half (H1) ended June 30, 2018.

The lender reported a Profit After Tax (PAT) of N6.2 billion and gross earnings of N77.6billion against PAT of N3.8billion on gross earnings of N57.1 billion during the corresponding period of 2017.

The Chief Executive Officer of the bank, Abubakar Suleiman, said: “We sustained our momentum in the second quarter, delivering solid growth across key financial indices.


We also achieved a 35.9 per cent growth in gross earnings to N77.6billion from N57.1billion in the second quarter of 2017.

“This was largely driven by a 25.1 per cent growth in interest income and a 56.5 per cent growth in transaction banking revenues, emphasizing our commitment to our retail drive.”

Suleiman disclosed that net operating income was up 29.1 per cent, on the back of a 54.8 percent reduction in impairment charges.

“Sterling Bank experienced significant improvement in asset quality as cost of risk declined further by 86 basis points to 0.8 per cent from 1.6 per cent in June 2017, reflecting the strength of our risk management framework.

Overall, Profit after Tax rose by 64.8 per cent to N6.2billion resulting in a 370-basis point increase in Return on Average Equity to 12.2 per cent.”

During H1 2018, the bank launched disruptive market offerings that included Farepay, Specta, and Sterling One Pay.

The most recent innovation, One Pay, is an upgrade of its mobile and internet banking solution in line with its digitisation drive, and promise to continuously innovate to meet customers’ evolving needs.

One Pay is designed to create an omni-channel experience for users by integrating both web-based Internet and mobile banking solutions.

In addition, the bank’s commitment to partnerships also resulted in the deployment of I-invest, a first-of-its-kind investment app that allows retail customers instant access to treasury bills.

I-invest eliminates entry barriers such as lack of education and information to make smart investment decisions and the ability to get a broker and/or time required to visit banks to fill forms for treasury bills.

On the prospect of the bank for the second half of the year, Suleiman said Sterling Bank would continue to explore and exploit opportunities already identified across the growth sectors of the economy while actively supporting special intervention and social investment programmes.


http://www.akelicious.net/2018/08/sterli...f.html?m=1
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Transcorp Hotels Plc records 85% increase in Half Year 2018 Profit After Tax Edoman 1 2,847 08-04-2018, 09:19 AM
Last Post: Gimbiya
  Nigerian Breweries’ Half Year Profit after Tax Declines to N8.2 Billion Edoman 0 2,360 08-01-2018, 09:43 AM
Last Post: Edoman
  FBN Holdings, Sterling Bank Post Improved Six-month Profits Edoman 0 2,269 07-31-2018, 08:57 AM
Last Post: Edoman
  Custodian Investment Declares 10 kobo Interim Dividend, Posts N3.7bn Profit Edoman 0 2,285 07-27-2018, 10:36 AM
Last Post: Edoman
  Nigeria, Others To Get AFREXIM Bank’s $25bn Grant Edoman 0 2,332 07-22-2018, 06:02 PM
Last Post: Edoman
  Illegal Deductions: CBN Returns N65bn To Bank Customers Edoman 0 2,215 07-19-2018, 09:40 AM
Last Post: Edoman
  Bank stocks post N320bn loss in Q2 Edoman 0 1,798 07-11-2018, 12:41 PM
Last Post: Edoman
  World Bank Approves $2.1bn Loan For Seven Projects In Nigeria Edoman 0 1,660 06-28-2018, 08:08 PM
Last Post: Edoman



Users browsing this thread: 1 Guest(s)