Nigeria: Sterling Bank Profit Hits N5.3 Billion in Third Quarter

28 October 2010

Lagos — Sterling Bank Plc has declared a Profit after Tax (PAT) of N5.3 billion for the third quarter (Q3) ended September 2010, compared with a loss after tax of N6.2 billion, the comparable period of 2009.

The result presented on the floor of the Nigerian Stock Exchange (NSE) yesterday, showed that the bank's gross earnings slipped by 13 per cent to N23.1 billion in the period under review, from N26.6 billion in September 2009. This, the bank attributed to the adoption of a lower interest rate regime.

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