Sterling Bank

Sterling Bank Opens Up New Whatsapp Banking Initiative

July 29, 2020 12:15 pm

Sterling Bank Plc, one of Nigeria’s leading commercial banks, today announced a personalised banking experience for existing customers and prospective account holders through the popular messaging app – WhatsApp.

Customers can now initiate bank transfers, and airtime and bill payments, check balance and BVN enquiries, as well as statement generation directly on WhatsApp with the aid of Kiki, a new personalised financial assistant.

The financial assistant also connects customers directly to customer service, making dispute resolution seamless.

The bank has launched the new experience in collaboration with Clickatell (www.Clickatell.com), a global leader in mobile communications and chat commerce.

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Sterling Bank: Impressive Growth In Profit Despite OPEX

February 3, 2020 10:56 am

Sterling Bank (Sterling) released its FY 2019 UNAUDITED report, with Gross Earnings coming in flat at ₦149.5bn, in line with our estimate of ₦149.5bn. Supported largely by moderation in Interest Expense (down 11% y/y) and growth in Net Fee and Commission Income (up 24% y/y), Pre-tax Profit grew 15% y/y to ₦10.9bn, significantly ahead of our estimate of 8.3bn.

The better than expected growth in Pre-tax Profit was due to the low-Interest Expense and higher than expected Net Trading Income (N5.1bn vs CSL Forecast of N2.6bn). EPS rose to N0.38 in FY 2019 (vs CSL Forecast of N0.27 and FY …