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Sterling Bank, one of Africa’s fastest-growing companies and Nigeria’s leading commercial bank, has reported a 28.5% growth in its profit after tax for 2022.
The bank’s assets also grew by 14.4% to N 1.858 trillion, while gross earnings for the period jumped by 16.6% to N 175 billion.
Additionally, the bank reported a 9.8% increase in customers’ deposits in 2022, closing out its net operating income at N 108 billion.
Despite macroeconomic setbacks, Sterling Bank’s Chief Executive, Abubakar Suleiman, said the bank showed remarkable resilience and continued to deliver value.
The reported figures marked a fitting end to a spectacular 2022 for the bank, which saw it named as the Best Bank in Nigeria by an independent survey conducted by AFRINVEST, win the Great Place to Work Award for the fifth consecutive year, and win the football championship of the Nigerian Bankers’ Games.
Sterling Bank is renowned for its HEART of Sterling strategy, which focuses on major investments in the Health, Education, Agriculture, Renewable Energy, and Transportation sectors of the economy.
The bank recently completed a major milestone towards the completion of its transformation into a financial holdings company with the relisting of its shares on the floor of the Nigerian Exchange (NGX).
