Sterling Bank Plc

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Sterling Bank Plc (2021-09)
  • Sterling Bank Plc
  • Year : Sep 2021
3 Tokens
USD 300.00
Summary

Sterling’s competitive position is supported by its strong track record, having maintained positive earnings trajectory over the review period (FY16-FY20). The bank operates a national banking license and delivers banking services to a broad client base comprising retail, corporate, and institutional customers through a network of 157 branches and digital channels. Sterling is a mid-sized bank and categorised as a tier-2 bank in the Nigerian banking industry, with a modest market share of 3.4% and 2.6% measured by customer deposits and total assets respectively as at FY20.

Additional Information

Sterling Bank has evolved over the decades, operating a national commercial banking license and publicly listed on the Nigerian Stock Exchange. Geographic exposure is limited to Nigeria, and about 93% of the bank’s credit exposures are domiciled in Lagos, the South-South and South-West regions of the country as at FY20. The stable outlook reflects GCR’s opinion that Sterling will maintain a good financial profile amidst the challenging operating environment. We expect the bank’s asset quality metrics (NPL and credit losses) to be maintained at the current levels.

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