Sterling Towers Q1 2022 Financial Performance
Operating Efficiency
There is an increase in operating expenses particularly from general and
administrative expenses and other operating expenses.
Operating Expense (N'b)
21.3%
19
16
17
16
15
2
2
1
1
1
2
2
2
2
6
5
4
6
5
6
5
5
4
4
3
4
4
4
4
Q1 2018
Q1 2019
Q1 2020
Q1 2021
Q1 2022
Personnel
Others
General & Admin
Property & Equipment
Depreciation & Amortisation
Total
Cost-to-Income (%)
82.9%
78.8%
78.2%
78.6%
Q1 2018
Q1 2019
Q1 2020
Q1 2021
76.6%
The Bank recorded a 21.3% increase in operating
expenses driven by an increase in general and
administrative expenses, and other operating
expenses such as the AMCON surcharge.
Notwithstanding the increase in operating expense,
the cost-to-income ratio (CIR) moderated to 76.6%
as at Q1 2022 aided by an improvement in
operating income.
Q1 2022View entire presentation