In the cash flow projection released for the third quarter,
the lender expected interest income of N39.152 billion and interest expenses of
N14.659 billion in the quarter.
Net revenue from funds is expected to be N24.492 billion
while credit impairment was forecast to hit N2.699 billion. Sterling bank
projected that other income will be N11.336 billion in the third quarter.
Net operating income and operating expenses were estimated
at N33.129 billion and N26.233 billion, respectively.
Profit before tax for the quarter will be N6.897 billion,
according to the projection. Company income tax was estimated at N551.721
million to trim the bank’s profit for the quarter to N6.345 billion.
Sterling bank estimated that net cash from operating
activities for the quarter will be N104.595 billion and cashflow from investing
activities was projected to be N118.787 billion.
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