Sterling Bank raises profit forecast for Q2 by 78.8%

By Kayode Tokede

Sterling Bank Plc, a major player in Nigeria’s banking sector has released its earnings forecast for second quarter ended June 30, 2021 with projected profit after tax of N3.74 billion, a 78.8per cent improvement of N2.03 billion forecasted for Q1 2021.

The bank also projected a gross earnings of N37.049 billion compared with N34.937 billion forecasted for the Q1.

The cash balance at the end of the quarter is expected to drop to N74.967 billion from N93.978 billion at the beginning. The bank’s earnings forecast for Q1 2021 with profit after tax of N2.093 billion.