Sterling Bank Nigeria

Sterling Bank Plc 2015 FY: Sustained Positive Momentum Amidst Harsh Operating Environment

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — Sterling Bank Plc (“Sterling” or “the Bank”) today (March 21, 2016) published its audited FY:2015 result on the floor of the Nigerian Bourse recording positive growth in both top and bottom lines and the first Tier-2 Bank to publish its FY:2015 earnings. We present the highlights of the result and our FY:2016 estimates.  Gross Earnings up 6.3% Y-o-Y…Lifted by Non-interest incomeSterling sustained its fine form since the acquisition…

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Moody’s puts three Nigerian banks on review for downgrade

Posted on by The Editorial Team
Moody’s puts three Nigerian banks on review for downgrade

LAGOS, Nigeria, Capital Markets in Africa — Moody’s Investors Service has placed on review for downgrade the long-term ratings of three Nigerian banks—Access Bank plc (Ba3/B1 RUR down, b2 RUR down), Sterling Bank plc (B2 RUR down, b3 RUR down) and Bank of Industry (Ba3 RUR down). In a statement, the ratings agency said that the reviews are driven by the potential weakening of the Nigerian Government’s capacity and willingness to provide support to the…

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