Sterling Financial Holdings Company Plc (NGX: STERLINGNG)

NGX:STERLINGNG Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	260,830	156,102	128,434	110,975	111,452
Interest Paid on Deposits	128,473	72,718	52,042	45,191	49,305
Net Interest Income	132,357	83,384	76,392	65,784	62,147
Net Interest Income Growth (YoY)	58.73%	9.15%	16.13%	5.85%	-3.94%
Income From Trading Activities	16,085	20,794	7,692	5,798	8,654
Gain (Loss) on Sale of Assets	-	55	197	396	64
Other Non-Interest Income	51,434	35,972	32,808	25,147	15,665
Total Non-Interest Income	67,519	56,821	40,697	31,341	24,383
Non-Interest Income Growth (YoY)	18.83%	39.62%	29.85%	28.54%	6.46%
Revenues Before Loan Losses	199,876	140,205	117,089	97,125	86,530
Provision for Loan Losses	9,929	12,335	9,122	9,821	7,906
Revenue	189,947	127,870	107,967	87,304	78,624
Revenue Growth (YoY)	48.55%	18.43%	23.67%	11.04%	-3.84%
Salaries and Employee Benefits	31,314	22,982	16,944	14,917	14,841
Occupancy Expenses	29,918	4,814	4,879	5,145	6,050
Selling, General & Administrative	45,768	20,292	14,282	32,092	27,422
Other Non-Interest Expense	38,194	57,089	51,105	20,676	17,939
Total Non-Interest Expense	145,194	105,177	87,210	72,830	66,252
EBT Excluding Unusual Items	44,753	22,693	20,757	14,474	12,372
Pretax Income	44,753	22,693	20,757	14,474	12,372
Income Tax Expense	7,231	1,109	1,459	959	1,130
Net Income	37,522	21,584	19,298	13,515	11,242
Net Income to Common	37,522	21,584	19,298	13,515	11,242
Net Income Growth	73.84%	11.85%	42.79%	20.22%	6.04%
Basic Shares Outstanding	29,087	28,790	28,790	28,790	28,790
Diluted Shares Outstanding	29,087	28,790	28,790	28,790	28,790
Shares Change (YoY)	1.03%	-	-	-	-
EPS (Basic)	1.29	0.75	0.67	0.47	0.39
EPS (Diluted)	1.29	0.75	0.67	0.47	0.39
EPS Growth	72.07%	11.90%	42.73%	20.37%	5.91%
Dividend Per Share	-	-	0.150	0.100	0.050
Dividend Growth	-	-	50.00%	100.00%	66.67%
Effective Tax Rate	16.16%	4.89%	7.03%	6.63%	9.13%

Source: S&P Capital IQ. Banks template. Financial Sources.