Sterling Bank’s Q1 profit falls to N2.04bn

Sterling Bank Plc saw its profit after tax decline to N2.04bn in the first quarter of this year.

The lender posted an after-tax profit of N3.24bn in Q1 2019, its financial results filed with the Nigerian Stock Exchange showed.

Its profit before tax fell to N2.19bn in Q1 2020 from N3.27bn in the same period of 2019.

The bank’s non-performing loan ratio dropped to two per cent as of March 2020 from 2.2 per cent in December 2019.