Sterling Bank's gross profit grows 26 per cent

Sterling Bank plc on Thursday announced that  its pre-tax profit rose by 26.1 per cent to N6 billion in third quarter result for 2013, from N4.8billion for the same period last year.

The bank's gross earnings also grew 31.4 percent year-on-year to 65.1 billion naira up to September 30, compared with 49.6 billion naira in the same period a year earlier, the bank said in a statement sent to the Nigerian Stock Exchange in Lagos.

Profit after tax stands at N5 billion and net profit N4.8 billion. The net profit rose about 4.7 per cent over the N4.6 billion recorded for the same period last year.