Sterling Bank National Branch Network

15 N' Millions Income Statement -8% 37,374 34,342 Gross Earnings *Annualized 11.4% -10.6% 23,265 20,883 31.7% ----- -10.0% 17,655 1- 14,111 15,783 ------- 10,717 10,166 9,154 FY 2009* FY 2010 4,955 5,044 (7,215) (9,306) NRFF Other Operating OpEx Income Income PBT PAT Comments Revenue decline (8%) was driven by the low interest rate regime experienced for the greater part of the year ■ Operating income increased 11% on the back of improved margins O Operating Expenses declined 11% reflecting progress in the Bank's cost discipline and efficiency programs introduced in 2009 ■ Sustained profitability achieved in the third quarter Sterling Bank The one-customer bank.

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