Sterling Financial Holdings Company Plc (“Sterling HoldCo” or “the Group”) 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 N41.78 billion, up from N16.26 billion in the same period last year. Earnings per share rose significantly to 89 Kobo, from 56 Kobo, reflecting consistent value creation for shareholders.
Gross earnings climbed by 39.7% to N212.61 billion, compared to N152.20 billion for H1 2024, while interest income rose by 38.3% to N167.16 billion. Non-interest income increased by 45% to N45.45 billion, attesting to the Group’s strategic focus on revenue diversification.
Additionally, the cost-to-income ratio improved to 64.5%, down from 75.7%, underscoring the impact of ongoing cost optimisation measures.
Total assets stood at N4.08 trillion at the end of June, representing a 15.3% increase from N3.54 trillion in December 2024. Shareholders’ funds were up 22.9%, reflecting the impact of recent recapitalisation and strong retained earnings.
Asset quality also improved, with the non-performing loan (NPL) ratio declining to 5.1%, from 5.4% at the close of the 2024 financial year.
The Group’s strong performance in the first half followed a successful private placement and rights issue, through which approximately N100 billion was raised. The proceeds enabled the full recapitalisation of The Alternative Bank and further strengthened the capital base of Sterling Bank, the Group’s flagship subsidiary.
Sterling HoldCo is now set to enter the public phase of its capital raising programme in the coming weeks, aiming to close the N53 billion recapitalisation gap of Sterling Bank and boost its capacity for sustained growth across diversified income streams.
This public offer represents the first phase of the US$400 million capital raising programme, approved by shareholders at the Group’s Annual General Meeting held on June 30, 2025.
Commenting on the Group’s performance 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 macroeconomic 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 underscore its role as a catalyst for positive change across Nigeria’s critical sectors. As the Group forges ahead into the second half of the year, it remains committed to sustainable growth, continuous innovation, and the creation of enduring value for all stakeholders.