SunTrust Bank Nigeria Limited has declared a Profit Before Tax (PBT) of N1.5 billion for the year ended December 31st 2022.
This is contained in the bank’s 2022 audited financial result published on its website, representing a 195.6 per cent growth in the bank’s PBT compared to FY 2021 results.
While the bank’s total assets grew by 94.7% from N67.9bn in 2021 to N132.3bn in 2022, total deposit liabilities grew by 61.8% from N50.8bn in 2021 to N82.2bn exit 2022.
The bank’s net interest income grew from N461.5 million in 2021 to N2.8bn in 2022, representing a 514% growth.
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Speaking to journalists at the bank’s head office in Lagos, its Managing Director and Chief Executive Officer, Hajiya Halima Buba, said the bank’s success in the past year can be attributed to paying attention to customer needs in an ever-dynamic operational landscape.
She also said the management deployed solutions that are driven by technology and innovation to meet customer’s aspirations.
SunTrust Bank started commercial banking operations in 2016, after securing the Central Bank of Nigeria (CBN) banking license in 2016 to operate as a regional commercial bank.
It has five branches spread across Lagos, FCT, Rivers and Akwa Ibom, and supported by a growing agency banking network.
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