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Ecobank, Sterling release FY’18 results


Ecobank Transnational Incorporated declared its 2018 financial reports, which showed that the bank grew its topline figures to N773.338 billion for the current period, which is marginally 1.27% better than N763.633 billion recorded in the corresponding period of 2017.

The Profit After Tax (PAT) for the group soared by 45.97% to stand at N102.168 billion above N69.992 billion reported the same period last year

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According to the company’s full-year results released by the Nigerian Stock Exchange (NSE), Net Interest Income dropped by 3% to settle at N289.039 billion below 2017’s N299.322 billion

In the same vein, Sterling Bank gross earnings hit N152 billion in FY 2018. Gross earnings increased from N133 billion in 2017 to N152 billion in 2018. Profit before tax rose from N8.1 billion in 2017 to N9.4 billion in 2018 while the Profit after Tax also rose from N8 billion in 2017 to N9.2 billion in 2018.