Sterling Bank Plc reported a PBT figure of N4.58 billion for the 4th quarter of 2020, indicating an increase of 52% Y-o-Y.

  Sterling Bank Plc reported a PBT figure of N4.58 billion for the 4th quarter of 2020, indicating an increase of 52% Y-o-Y.

 

Sterling Bank Plc has reported a Profit Before Tax figure of N4.58 billion for the fourth quarter of 2020 (Q4, 2020), compared to N3.02 billion recorded Q4 2019, which indicates an increase of about 52% Y-o-Y.

This is according to the bank’s recent financial statement made available on the Nigerian Stock Exchange platform and seen by Nairametrics.

The bank had earlier posted a 4.88% increase in its Profit before Tax figures for the nine-month period ended September 2020. In this light, the recent PBT figure is seen as a major improvement and consolidation to the previous figure.

Other key highlights of the Q4 2020 result are;

Net interest income increased to N18.3 billion due to a drastic reduction in interest expense, +6.5% Y-o-Y.

Profit After Tax increased to N4.33 billion, +43.1% Y-o-Y.

Net fees and commission income rose to N5.22 billion, +32.13% Y-o-Y.

Net trading income increased to N4.99 billion, +59.5% Y-o-Y.

Other operating income declined to N179 million, -85.6% Y-o-Y.

Personnel expenses rose to N3.69 billion, +0.5% Y-o-Y.

Total expenses declined to N20.41 billion, -0.7% Y-o-Y.

Earnings per share increased to N0.41k in FY 2020, +10.8% Y-o-Y

Loans and advances to customers marginally declined to N617.6 billion in FY 2020,-0.2% Y-o-Y

Deposits from customers increased to N951.4 billion in FY 2020, +6.6% Y-o-Y.

Fidelity Bank Plc posts N7.63 billion Profit in Q4, 2020

FBN Holdings Plc posts Profit Before Tax of N14.8 billion in Q4 2020

Ecobank Transnational Inc. records 24% increase in Profit After Tax for Q4 2020.

RELATED TOPICS:STERLING BANK PLC

Chidi Emenike

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial InclusionCLICK TO COMMENT

LIVE FEEDNCR Nigeria Plc records N157 million pre-tax profit in 2020 FY

NCR Nigeria Plc (NCR) recorded a significant increase in its 2020 FY pre-tax profits, as total revenue declined.

 

NCR Nigeria Plc (NCR) recorded a significant increase in its 2020 FY pre-tax profit, as total revenues declined.

NCR Nigeria Plc – an ICT solutions company – reported pre-tax profits of N156.83 million in 2020 FY as against N56.50 million pre-tax loss recorded in the same period of 2019.

Key highlights for 2020 FY

 

Revenue declined to N5.13 billion, -15.53% YoY.

Revenue from its financial service group declined to N3.14 billion, -19.78% YoY.

Revenue generated from its world customer services declined to N1.99 billion, -7.82% YoY.

Other operating income increased to N33.23 million, +110.9% YoY.

Cost of sales declined to N4.71 billion, -9.27% YoY.

Distribution expenses declined to N128.07 million, -73.7% YoY.

Administrative expenses declined to N58.51 million, -66.37%YoY.

No finance cost was recorded in the year.

Pre-tax profits increased to N156 million.

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CWG Plc (CWG) recorded a decline in its 2020 FY pre-tax profit, as total revenue increased.

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CWG Plc (CWG) recorded a decline in its 2020 FY pre-tax profit, as total revenue increased.

CWG Plc – an ICT Solutions company – reported pre-tax profit of N546.24 million in 2020 FY compared to N634.01 million recorded in the same period of 2019 – a 13.84% decline.

Key highlights for 2020 FY

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Revenue increased to N11.81 billion, +23.4% YoY.

Other income declined to N37.27 million, -96.73% YoY.

Cost of sales increased to N9.16 billion, +26.45% YoY.

Operating expenses declined to N1.8 billion, -24.40%YoY.

Interest and finance charges increased to N89.87 million, +22.91% YoY.

Pre-tax profit declined to N564.24 million, -13.84% YoY.

CONTINUE READINGLIVE FEEDFidson Healthcare Plc records 202% increase in 2020 FY pre-tax profit

Fidson Healthcare Plc (FIDSON) recorded a significant increase in its 2020 FY pre-tax profits, as total revenue increased.

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Fidson Healthcare Plc (FIDSON) recorded a significant increase in its 2020 FY pre-tax profit, as total revenue increased.

Fidson Healthcare Plc – a pharmaceutical manufacturing company – reported pre-tax profits of N1.74 billion in 2020 FY compared to N575.67 million recorded in the same period 0f 2019 – a 201.85% increase.

Key highlights for 2020 FY

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Revenue increased to N18.28 billion, +29.97% YoY.

Revenue generated from ethical increased to N10.85 billion, +37.95% YoY.

Revenue from its over-the-counter unit increased to N7.43 billion, +19.89% YoY.

No revenue was generated from its consumer unit in the year.

Other operating income increased to N349.75 million, +17.9% YoY.

Cost of sales increased to N9.74 billion, +19.01% YoY.

Finance income declined to N9.24 million, -83.58% YoY.

Administrative expenses increased to N3.72 billion, +47.60%YoY.

Finance costs declined to N1.34 billion, -23.05% YoY.

Pre-tax profits increased to N1.74 billion, +201.85% YoY