Saturday, October 25, 2025
29.4 C
Lagos

Sterling HoldCo Delivers 157% Profit Growth in Half-Year 2025

Sterling Financial Holdings Company Plc has reported a 157% year-on-year surge in profit-after-tax (PAT) in its unaudited results for the half-year ended June 30, 2025, demonstrating continued

momentum in revenue growth, operational efficiency, and capital position.

The Group’s PAT reached ₦41.78 billion, up from ₦16.26 billion in the same period last year. Earnings per share rose significantly to 89 Kobo from 56 Kobo, reflecting a consistent increment in value to shareholders.

Gross earnings climbed by 39.7% to ₦212.61 billion, compared to ₦152.20 billion for H1 2024, while interest income rose by 38.3% to ₦167.16 billion, and non-interest income increased by 45% to ₦45.45

billion, attesting to the Group’s strategic focus on revenue diversification.

Additionally, the Group’s cost-to-income ratio improved to 64.5% from 75.7%, underscoring the benefits of ongoing cost optimisation measures.

Total assets stood at ₦4.08 trillion at the end of June, representing a 15.3% increase from ₦3.54 trillion in December 2024.

Shareholders’ funds were up 22.9% for the period, reflecting the impact of recent recapitalisation and healthy retained earnings. Asset quality also improved, with the non-performing loan ratio declining

to 5.1% from 5.4% at the close of the 2024 financial year.

The Group’s strong showing in the first half of the year followed a successful private placement and rights issue, through which approximately ₦100 billion was raised.

The proceeds enabled the full recapitalisation of Alternative Bank and further strengthened the capital base of Sterling Bank, the Group’s flagship subsidiary. The Group is set to enter the public phase of its capital raising programme in the coming weeks, aiming to close the ₦53 billion recapitalisation gap of Sterling Bank and further strengthen the institution’s capacity for sustained growth across its diversified

income streams.

This public offer is the first phase of the US$400m capital raising programme approved by Sterling Holdco’s shareholders at its Annual General Meeting which held on the 30th of June 2025.

Commenting on the Group’s feat and long-term vision, Yemi Odubiyi, Group Chief

Executive Officer, Sterling Financial Holdings Company, said:

“Our outstanding half-year results are the product of clear strategic focus and a relentless drive to create lasting value for our stakeholders. Our performance reflects not just robust growth in core income lines, but also our success in building a resilient and agile business model, capable of delivering superior returns even in a dynamic macro-economic environment.

As we continue to diversify our income streams and invest in operational efficiency, we remain steadfast in our commitment to responsible growth, prudent risk management, and sustainable impact.

Looking ahead to the next phase of our capital programme, we see tremendous opportunity to deepen our footprint in Nigeria’s growth sectors and to catalyse meaningful progress for our customers,

communities, and the broader economy.”

Sterling HoldCo’s ongoing investments in renewable energy, healthcare, and community development highlight its role as a catalyst for positive change across Nigeria’s critical sectors.

As the Group forges ahead with its plans for the second half of the year, it remains resolute in its pursuit of sustainable growth, continuous innovation, and the creation of enduring value for all stakeholders.

 

 

spot_img
spot_img
spot_img

Hot this week

Tinubu Sacks Service Chiefs

President Bola Ahmed Tinubu has sacked the service chiefs...

Equity Trading on Nigerian Exchange Surges 115% as Reforms Draw Foreign, Domestic Investors

Transactions by domestic and foreign investors on Nigerian Exchange...

Stanbic IBTC Insurance Unveils Manifold Endowment Plan to Stakeholders at Media Engagement

L-R: Akinjide Orimolade, Chief Executive, Stanbic IBTC Insurance; Wole...

Stanbic IBTC Pension Managers Champions Flexible Pension Options for Nigerians at Home, Abroad

Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic...

Lasaco Assurance Reports N13.19bn Claims Payment, 25% Revenue Growth in 2024

L-R: Deputy Managing Director, Corporate Service, Lasaco Assurance Plc,...

Topics

Continental Re: 9th Pan-African (Re)Insurance Journalism Awards for April 12

Continental Reinsurance Plc is delighted to unveil the confirmed...

Editors Tackle FG over Social Media Regulation, Elects Isah Ag President

The Nigerian Guild of Editors (NGE) has cautioned the...

NSE Bloomberg CEO Roundtable 2018

L – R: Oladele Afolabi, Director, Portfolio Management, Debt Management...

Buhari Vs Twitter: The Inglorious War!

The deletion of a tweet by President Muhammadu Buhari...

Buhari Extends Medical Vacation, Fails to Return

President Muhammadu Buhari has sought extension of his medical...

The Maggi Magic Nestlé Redressing Micronutrient Deficiency in Africa with New Maggi Cube

MAGGI CUBES: FORTIFIED SEASONING Nestlé sells millions of Maggi...

Fidelity Bank Delivers Hope to Internally Displaced Persons in Benue State

Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka (Left);...
spot_img

Related Articles

Popular Categories

spot_imgspot_img