Sterling Bank Plc and Equitorial Trust Bank Limited Receive Shareholders’ Approval for Business Combination
At respective court-ordered meetings held today in Lagos, shareholders of Sterling Bank Plc (“SBP”) and Equitorial Trust Bank Limited (“ETB”) approved the combination of both financial institutions. The shareholders’ consent marks the culmination of exclusive talks, which were first disclosed last month after the formal signing of a transaction implementation agreement (TIA). The deal, whose […]
Yemi Odubiyi, Chief Strategist at Sterling Bank, discusses Acquisition of Equitorial Trust Bank on CNBC Africa
In this interview with Wole Famurewa of CNBC Africa, Yemi Odubiyi, Chief Strategist at Sterling Bank Plc, discusses the bank’s recent decision to issue 3 billion new shares as part of its acquisition payment for privately-held Equitorial Trust Bank.
Sterling Bank PLC and Equitorial Trust Bank PLC Sign Transaction Implementation Agreement
Sterling Bank Plc (“Sterling”) and Equitorial Trust Bank Plc (“ETB) today announced that they have entered into a formal Transaction Implementation Agreement (TIA) which will lead to the recapitalization of ETB and merger of both financial institutions. The TIA reflects the main commercial terms of reference on which agreement has been reached in principle by the Boards […]
Sterling Bank PLC Releases Unaudited Results for the Second Quarter ended 30 June 2011
Records 11% Growth in Gross Earnings to N18.2 Billion Lagos, July 25, 2011 – Sterling Bank Plc (NSE: STERLNBANK/ Reuters: STBP.LG) – the ‘Bank’ – today released its unaudited results for the first six months ended 30 June 2011. Speaking on the results, Yemi Adeola, Group Managing Director/CEO said: We are pleased to announce that Sterling […]
Sterling Bank shareholders commend FY 2010 performance at 49th Annual General Meeting
On May 31, 2011, Sterling Bank, the full-service Nigerian commercial bank, held its 49th annual general meeting (AGM) in Lagos. At the meeting, Yemi Adeola, the Group Managing Director and Chief Executive Officer, reaffirmed the determination of the Board and Management to deliver competitive returns to shareholders in the years ahead. His assurance was given […]
Sterling Bank PLC Releases Unaudited Results for the First Quarter ended March 31, 2011
Reports Earnings of N9.1 Billion, Declares Profit before Tax of N1.4 Billion Lagos, April 28, 2011 – Sterling Bank Plc (NSE: STERLNBANK/ Reuters: STBP.LG) – the ‘Bank’ – today released its unaudited results for the first quarter ended 31 March 2011. The Bank continues to make steady progress in its strategy built on expanding retail […]
Notice of 49th Annual General Meeting
NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 49th Annual General Meeting of Sterling Bank Plc will be held at Golden Gate Complex, 25B, Glover Road, Ikoyi, Lagos on Tuesday, the 31st day of May 2011 at 11.00 a.m. to transact the following business: ORDINARY BUSINESS: 1. To receive the Audited Financial […]
Shareholders approve National Banking License and Capital Injection at Extra-Ordinary General Meeting
At its Extra-Ordinary General Meeting held in Lagos on February 4, 2011, Sterling Bank received shareholders’ approval to apply for a national commercial banking license under the new geographic footprint categorization of the Central Bank of Nigeria. The Bank had sought shareholders’ approval to apply “for a commercial banking license on a national basis”. Under […]
Notice of Extra-Ordinary General Meeting of Sterling Bank PLC
Sterling Bank will hold an Extraordinary General Meeting at 11:00 a.m. on Wednesday, February 2, 2011 at the Lagoon Restaurant along Ozumba Mbadiwe Avenue, Victoria Island. Special Business to be conducted: To consider, and if thought fit, to pass the following as Special Resolutions subject to regulatory approvals: 1. “That the Bank shall carry on […]
Notice of Extra-Ordinary General Meeting of Sterling Bank PLC
Sterling Bank will hold an Extraordinary General Meeting at 11:00 a.m. on Wednesday, February 2, 2011 at the Lagoon Restaurant along Ozumba Mbadiwe Avenue, Victoria Island. Special Business to be conducted: To consider, and if thought fit, to pass the following as Special Resolutions subject to regulatory approvals: 1. “That the Bank shall carry on […]
Sterling Bank reports Q3 2010 results
Sterling Bank Plc (NSE: STERLNBANK/ Reuters STBP.LG – the “Bank”) today released its unaudited financial results for the period ended September 30, 2010. In the third quarter, Sterling Bank maintained its healthy performance of the first six months supported by a boost in earnings from steady growth in interest margins and writeback from credit provisions. […]
Sterling Bank appoints two non-executive directors to its Board
Sterling Bank has announced the appointment of two non-executive directors to its board of directors. The new directors are: Mr. Aderemi Rasheed Kolarinwa and Mr. Akanji Musibau Fashanu. The new directors bring a wealth of private sector experience to their new roles. Rasheed Kolarinwa graduated from the University of Toronto with a Bachelor of Arts […]
Sterling Bank appoints two non-executive directors to its Board
Sterling Bank has announced the appointment of two non-executive directors to its board of directors. The new directors are: Mr. Aderemi Rasheed Kolarinwa and Mr. Akanji Musibau Fashanu. The new directors bring a wealth of private sector experience to their new roles. Rasheed Kolarinwa graduated from the University of Toronto with Bachelor of Arts degree […]
Sterling Bank releases H1 2010 Results
Sterling Bank Plc (NSE: STERLNBANK/ Reuters STBP.LG – the “Bank”) today released its audited financial results for the six months ended June 30, 2010. Sterling Bank has sustained the drive of its first quarter performance to make solid recovery in the second quarter. These results show a return to positive trends in the Bank’s businesses, […]
Sterling Bank holds 48th Annual General Meeting
Sterling Bank has held its 48th annual general meeting (AGM) in Calabar, the Cross River state capital. The highlight of the meeting was the approval given the Bank by shareholders to raise fresh capital of up to N100 billion. Sterling Bank had presented the following proposal to its shareholders: That additional capital up to N100billion […]
Sterling Bank releases FY 2009 and Q1 2010 results
Lagos, May 14, 2010 – Sterling Bank Plc (NSE Ticker: STERLNBANK/ Reuters: STBP.LG – the “Bank”) today announced audited financial results for the full year ended December 31, 2009, and unaudited results for its first quarter 2010. Full Year Highlights for 15 Months ended December 31, 2009 Gross Earnings rose to N46.7 billion from N36.2 […]
