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Chibuzor Oluchi Despite the adverse effect of the Covid-19, Sterling Bank Plc has reported a N12.4 billion profit before tax (PBT). The lender reported the profit before tax on gross earnings of N138.9 billion in the financial year ended December 2020 compared to a PBT of N10.7 billion on gross earnings of N150.2 billion in the same period of 2019, representing a 15.9% growth. In response to the pandemic and expected credit losses, Sterling Bank proactively increased the cost of risk by 10 basis points to 1.0% while moderating the Non-Performing Loan ratio downwards by 30 basis points to 1.9%. Commenting on the results, the bank’s Chief Executive Officer (CEO), Abubakar Suleiman said: “2020 was an extraordinary defined by the global pandemic. COVID-19 disrupted society and severely impacted economic activities.

Abubakar suleimanChibuzor oluchiSterling bank plcSterling bankNon performing loanChief executive officerஸ்டெர்லிங் வங்கி ப்ல்ஸ்டெர்லிங் வங்கிஅல்லாத நிகழ்த்துகிறது கடன்தலைமை நிர்வாகி அதிகாரி