WorldStage Newsonline– Following a 65 per cent growth in profit at N8.5 billion during the financial year ended December 31, 2017, Sterling Bank has announced plans to focus on key growth sectors of the Nigerian economy that will enrich lives and grow the bottom-line.
The bank’s gross earnings during the period increased by 19.8 percent to N133.5 billion against N111.4 billion in the corresponding period of 2016 driven by growth in both interest and non-interest income by 11.3 percent and 87.8 percent respectively while stakeholders’ funds rose by 20.1 percent to N102.9 billion.
The bank’s gross earnings also increased by 19.8 percent to N133.5 billion against N111.4billion in the corresponding period of 2016 driven by growth in both interest and non-interest income by 11.3 percent and 87.8 percent respectively.
Addressing shareholders at the 56th Annual General Meeting (AGM) in Lagos, Mr. Asue Ighodalo, Chairman of the bank attributed its improved performance to shared purpose across board by all stakeholders, saying, it will continue to navigate its growth by innovative means.
“As a business, we will continue to innovate with focus on key growth sectors of the Nigerian economy that will enrich lives and grow the bottom-line. We will also continue to leverage on our areas of strength to drive sustainable growth and deliver superior returns to our esteemed shareholders,” he said.
At the AGM where the shareholders approved the declaration of two kobo dividend per ordinary share of 50 kobo, Ighodalo assured them of the bank’s commitment to delivering tailor-made solutions in line with the Global Sustainable Development Goals (SGDs) and Central Bank of Nigeria’s Sustainable Banking Principle.
”As a matter of necessity, we remain committed to delivering solutions that satisfy stakeholders’ needs and objectives while also providing adequate financial returns to shareholders.”
