Sterling Financial Holdings Company Plc, a Nigerian financial institution, has projected its gross earnings to reach N121.8 billion in the first quarter ending March 31, 2025.
This was revealed in its cash flow projection report on the Nigeria Exchange Limited on recently.
The projection includes an expected interest income of N89.3 billion and interest expenses of N34.8 billion, resulting in net revenue from funds of N54.45 billion.
The company also anticipates credit impairment charges of N16.8 billion, with no exceptional items during the period.
“Other income for the quarter is projected at N28.4 billion, bringing the forecasted net operating income to N65.98 billion,” the report shows.
Read also: LCCI sees inflation easing in 2025
Operating expenses are expected to hit N53.29 billion, leaving a profit before tax of N12.69 billion. After accounting for a forecasted tax of N1.05 billion, the company expects a profit after tax of N11.64 billion in 2025.
In the first quarter of 2024, the bank reported a 52.3 percent increase in its profit after tax to N16.3 billion from N10.7 billion in the same period last year.
BusinessDay’s analysis shows that the projection underscores Sterling Financial Holdings’ strategic focus on sustainable growth and robust financial management in 2025.
Sterling’s cash flow projections reveal that the company anticipates N50.9 billion from investing activities and N64.4 billion from financing activities during the quarter. Net cash generated from operating activities is forecasted at N5.58 billion.
The company’s net cash and cash equivalents are expected to increase to N7.84 billion, with a cash/bank balance projected to grow from N458.11 billion at the start of the period to N465.95 billion by the end of March 2025.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
