The SunTrust Bank Nigeria Limited has released its financial
performance for the year ended December 31, 2016, showing a clear message of
determination to succeed and deliver value to all stakeholders, reports
ITRealms.
SunTrust Bank, ITRealms gathered, began commercial banking
activities last year with the vision to “offer high quality retail and
commercial banking services in a modern and innovative manner” according to the
Managing Director and Chief Executive Officer of the bank, Mr. Muhammed Jubrin.
“We will use technology and a new way of thinking to provide
banking services to many people and businesses in Nigeria for whom access to a
bank account has previously been impossible. We will offer telephone, mobile
and Internet banking underpinned by the traditional banking ethics of probity
and integrity,” he declared.
And going by the results of the bank for 2016, the future is
very bright for all stakeholders. The bank grew its bottom-line by 160.2 per
cent as profit before tax (PBT) rose from N131.9 million to N343.34 million in
2016.
In all, the bank he said recorded net interest income of
N935.892 million in 2016, up from N220 million in 2015, while net fee and
commission income improved from N65.389 million to N92.378 million in 2016.
“SunTrust Bank ended the year with a profit after tax (PAT)
growth to 74.57 per cent from N121.844 million in 2015 to N212.707 million in
2016,” he said.
Ayo Midele/GEE
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