Sterling Bancorp's Corporate Customers have recorded a rise in their cost of revenue by 32.89 % in the 3 quarter 2021 year on year, sequentially costs of revenue grew by 15.44 %. During the corresponding time, Sterling Bancorp recorded a revenue increase by 14.04 % year on year, sequentially revenue grew by 1.19 %. While revenue at the Sterling Bancorp's corporate clients recorded rose by 11.35 % year on year, sequentially revenue grew by 11.74 %.
Sterling Bancorp's Customers have recorded a rise in their cost of revenue by 32.89 % in the 3 quarter 2021 year on year, sequentially costs of revenue grew by 15.44 %, for the same period Sterling Bancorp recorded revenue increase by 14.04 % year on year, sequentially revenue grew by 1.19 %.
Sterling Bancorp's Comment on Sales, Marketing and Customers
Our success depends primarily on the general economic conditions in the counties
in which we conduct most of our business. Most of our loans and deposits are generated
from customers primarily in the New York City metropolitan region, which includes
Manhattan, the boroughs and Long Island, and in Rockland, Westchester and Orange
Counties in New York. We also have a presence in Ulster, Sullivan and Putnam Counties
in New York and in Bergen County, New Jersey, as well as other counties in northern
New Jersey. Our expansion into New York City and continued growth in Westchester
County and Bergen County has helped us diversify our geographic concentration
with respect to our lending activities. Deterioration in economic conditions in
our market area would adversely affect our results of operations and financial
condition.
Sterling Bancorp’s Comment on Sales, Marketing and Customers
Our success depends primarily on the general economic conditions in the counties
in which we conduct most of our business. Most of our loans and deposits are generated
from customers primarily in the New York City metropolitan region, which includes
Manhattan, the boroughs and Long Island, and in Rockland, Westchester and Orange
Counties in New York. We also have a presence in Ulster, Sullivan and Putnam Counties
in New York and in Bergen County, New Jersey, as well as other counties in northern
New Jersey. Our expansion into New York City and continued growth in Westchester
County and Bergen County has helped us diversify our geographic concentration
with respect to our lending activities. Deterioration in economic conditions in
our market area would adversely affect our results of operations and financial
condition.
Sources:
Sterling Bancorp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Sterling Bancorp’s corporate clients.
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