Sterling Financial Holdings Company Plc (NGX: STERLINGNG)

STERLINGNG Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	227,211	156,102	128,434	110,975	111,452	127,291
Interest Paid on Deposits	119,364	72,718	52,042	45,191	49,305	62,592
Net Interest Income	107,847	83,384	76,392	65,784	62,147	64,699
Net Interest Income Growth (YoY)	19.38%	9.15%	16.13%	5.85%	-3.94%	17.04%
Income From Trading Activities	23,312	20,794	7,692	5,798	8,654	5,058
Gain (Loss) on Sale of Assets	-29	55	197	396	64	29
Other Non-Interest Income	47,634	35,972	32,808	25,147	15,665	17,817
Total Non-Interest Income	70,917	56,821	40,697	31,341	24,383	22,904
Non-Interest Income Growth (YoY)	57.80%	39.62%	29.85%	28.54%	6.46%	-2.72%
Revenues Before Loan Losses	178,764	140,205	117,089	97,125	86,530	87,603
Provision for Loan Losses	13,114	12,335	9,122	9,821	7,906	5,838
Revenue	165,650	127,870	107,967	87,304	78,624	81,765
Revenue Growth (YoY)	31.63%	18.43%	23.67%	11.04%	-3.84%	12.03%
Salaries and Employee Benefits	29,378	22,982	16,944	14,917	14,841	14,912
Occupancy Expenses	4,975	4,814	4,879	5,145	6,050	7,901
Selling, General & Administrative	32,496	20,292	14,282	32,092	27,422	30,205
Other Non-Interest Expense	64,493	57,089	51,105	20,676	17,939	18,075
Total Non-Interest Expense	131,342	105,177	87,210	72,830	66,252	71,093
EBT Excluding Unusual Items	34,308	22,693	20,757	14,474	12,372	10,672
Pretax Income	34,308	22,693	20,757	14,474	12,372	10,672
Income Tax Expense	1,764	1,109	1,459	959	1,130	70
Net Income	32,544	21,584	19,298	13,515	11,242	10,602
Net Income to Common	32,544	21,584	19,298	13,515	11,242	10,602
Net Income Growth	45.38%	11.85%	42.79%	20.22%	6.04%	15.01%
Basic Shares Outstanding	28,790	28,790	28,790	28,790	28,790	28,790
Diluted Shares Outstanding	28,790	28,790	28,790	28,790	28,790	28,790
Shares Change (YoY)	0.00%	-	-	-	-	-
EPS (Basic)	1.13	0.75	0.67	0.47	0.39	0.37
EPS (Diluted)	1.13	0.75	0.67	0.47	0.39	0.37
EPS Growth	46.75%	11.90%	42.73%	20.37%	5.91%	15.08%
Dividend Per Share	-	-	0.150	0.100	0.050	0.030
Dividend Growth	-	-	50.00%	100.00%	66.67%	-
Effective Tax Rate	5.14%	4.89%	7.03%	6.63%	9.13%	0.66%

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