Monday, 15 December 2014

Sterling Bank targets 700 ATMs, 5,000 PoS terminals

Sterling Bank logo

Sterling Bank Plc says it has concluded plans to increase its Automated Teller Machines to 700, up from 585, by year end. The lender also said it would start the 2015 financial year with 5,000 Point of Sales terminals.

In a statement on Sunday, the bank said the plans were meant to improve its financial services in the coming year and also cushion the effects of the introduction of N65 service charge by the Central Bank of Nigeria on remote-on-us ATM transactions.

As a result, Sterling Bank said that additional ATM galleries would be installed in strategic locations across the country while a robust infrastructure to support the expansion had also been put in place.

The bank’s Group Head, Strategy & Communications, Mr. Shina Atilola, was quoted as saying, “We have almost doubled our ATM count between December last year and September 2014. We started the year with 300 ATMs but aim to close the year with about 700. This would involve additional deployments at existing locations, partner locations and ATM galleries”

He also stressed that the public needed to know that beyond cash withdrawals, customers could confirm their account balances, do transfers (inter and intra bank), pay bills such as electricity and DSTV and buy airtime at the bank’s ATMs

He explained, “As a financial institution poised to enrich lives, Sterling Bank will continue to maintain high quality ATM services by supporting the inter-operability of the payment system in the country. We will continue to deploy more ATMs to promote the cashless policy of the CBN and ensure that our customers are provided with enough platforms to transact their financial transactions”.

Meanwhile, the lender said its shareholders had unanimously endorsed the bank’s annual report and accounts for the year ended December 31, 2013, just as they commended the board and management for sustaining the bank’s profitability, despite the challenging operating environment.

The shareholders, it said, had extolled the board for the approval of 25kobo per share dividend as recommended by the board, as against 20 kobo per share for 2012.

Similarly, the lender in a statement said shareholders at the meeting had unanimously authorised the board to increase its authorised share capital from 12 billion to 16 billion through the creation of an additional eight billion ordinary shares of 50 kobo each.

On financial performance, the bank’s profit before tax rose by 24 per cent to stand at N9.3bn in the year under review, while gross earnings grew to N91.6bn, representing a 33 per cent growth surge when compared with 2012 figure of N68.8bn.

The growth in the earning, he said, was as a result of increased volumes and activities and a diversified revenue base.

Operating income was not left out as it appreciated by 63 per cent from N39.2bn in the comparable period of 2012 to N57.4bn within the period under review.

Similarly, profit after tax equally grew by nine per cent, from N6.9bn recorded in the corresponding year of 2012 to N8.2bn in 2013.

No comments:

Post a Comment