Sterling Bank gross earnings up by 35%

STERLING Bank Plc has reported a 35.9 percent growth in gross earnings to N77.6 billion in the first half ended June 30, 2018 from N57.1 billion recorded in the corresponding period of 2017. The bank also recorded a Profit After Tax (PAT) of N6.2 billion on gross earnings of N77.6 billion as against PAT of N3.8 billion on gross earnings of N57.1 billion during the corresponding period of 2017. •Yemi Adeola, Sterling Bank MD Commenting on the result, Mr. Abubakar Suleiman, Chief Executive Officer, Sterling Bank Plc, said “We sustained…

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Sterling bank intensifies debt recovery drive

Sterling Bank Plc has said it will always adopt amicable resolution or when necessary, drastic legal actions to achieve debt recovery outcomes. Such strategies include restructuring for accelerated payoffs and possible foreclosure or disposal of pledged assets of defaulting debtors. This is expected to ensure a progressive drop in the bank’s non-performing loan (NPL) ratio which has decreased significantly year on year since 2016. Commenting on the intensified debt recovery drive, the bank’s Group Head, Credit Collection and Recovery, Abiodun Aderoju, said: “Sterling Bank witnessed a 383 per cent increase…

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How alleged fraudsters stole N1.8 billion from Sterling Bank

Two persons alleged to be fraudsters have been accused of obtaining the sum of N1.8 billion from Sterling Bank Plc by false pretence. The duo identified as Messrs Ogbor Kehinde Eliot and Kelvin Ejere Chris were, arraigned by the Economic and Financial Crimes Commission (EFCC) before Justice O.A. Taiwo of the Special Offences Court sitting in Ikeja, Lagos. They were taken to court on a five-count charge bordering on conspiracy, forgery and obtaining by false pretence. The defendants, who were charged alongside a company, Danium Energy Services Limited, were alleged…

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Sterling Bank Empowers Local Drivers

Using an ingenious campaign, the first of its kind anywhere in the world, Africa’s top lender bank, Sterling Bank, has empowered and created a new stream of income for local drivers of ride-hailing services in the Nigerian market. The campaign saw the disruptive bank, which keeps upsetting the status quo use branded ride-hailing cabs as out-of-home media to announce its refreshed brand identity. Applauding the move, regular Taxify rider, Adeola Adejokun, said: “I woke up to the sight of saloon cars on the mainland wearing Sterling Bank’s new logo. It…

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Why We Are Supporting NESG, By Sterling Bank

  Sterling Bank Plc has renewed its commitment to the promotion of Made-In-Nigeria goods and services as it supports the 2016 edition of the Nigerian Economic Summit (NES#22). The summit themed ‘Made in Nigeria’ is scheduled to hold from October 10 to 12, 2016 at the Transcorp Hilton Hotel, Abuja.   Sterling Bank in a statement made available to newsmen in Lagos at the weekend assured that it would continue to invest in and partner with like minds to promote the production and consumption of locally made goods and services…

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Sterling Bank Introduces Shopping Dash for Account Holders

Children with I Can Save accounts with Sterling Bank Plc are in for a full time of fun as the Bank flags off the Shopping Dash programme in four states in the country. The four states are Lagos, Port Harcourt, Enugu and Abuja. The Bank is running the programme in partnership with top Shopping Malls in the country. The programme affords lucky children the opportunity to do a one-minute shopping dash and pick items of their choice at shopping malls selected for the programme. The programme is meant to reward…

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Sterling Bank Shareholders Give Approval for N20 Billion Fresh Capital

The shareholders of Sterling Bank Plc on Tuesday at an Extra-ordinary General Meeting (EGM) gave approval to the lender to raise fresh capital of N20 billion in order to boost its operations and increase its capital adequacy level. At the EGM, investors of the bank endorsed the fresh fund raising by passing three (3) special resolutions. The first resolution reads, “That subject to regulatory approvals, the directors be and are hereby authorised to issue up to 7,471,698,113 ordinary shares of 50 kobo each from the company’s share capital by way…

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Great News: Sterling Bank Opens New Branches Nationwide

In line with its focus on the retail end of the market and its quest to deliver its quality banking services to the door steps of its customers, Sterling Bank has opened 10 new branches nationwide. The Bank has also embarked on the remodeling of about 40 of its branches nationwide to reflect its retail positioning. The new branches are located in Festac Town, Owode Onirin, a retail market that deals with motor spare parts along Ikorodu Road, Itire, and Awoyaya all in Lagos. Others are the NNPC Depot in…

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Sterling Bank Opens New Branches Nationwide

  In line with its focus on the retail end of the market and its quest to deliver its quality banking services to the door steps of its customers, Sterling Bank has opened 10 new branches nationwide.   The Bank has also embarked on the remodeling of about 40 of its branches nationwide to reflect its retail positioning.   The new branches are located in Festac Town, Owode Onirin, a retail market that deals with motor spare parts along Ikorodu Road, Itire, and Awoyaya all in Lagos. Others are the…

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