Sterling HoldCo Records 157% Profit Growth In H1

Sterling Financial Holdings Company Plc (Sterling HoldCo) has reported a 157 per cent 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 firm said 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 a consistent shareholder value increment. Gross earnings climbed by 39.7 per cent to N212.61 billion, compared to N152.20 billion for H1 2024, while interest income rose by 38.3 per cent to N167.16 billion, and non-interest income increased by 45 per cent to N45.45 billion, attesting to the group’s strategic focus on revenue diversification.

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

Also, the management said total assets stood at N4.08 trillion at the end of June, representing a 15.3 per cent increase from N3.54 trillion in December 2024. Shareholders’ funds were up 22.9 per cent 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 per cent from 5.4 per cent at the close of the 2024 financial year.

The group’s strong showing in the year’s first half followed a successful private placement and rights issue, raising approximately N100 billion.

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The proceeds enabled the 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 was held on June 30, 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 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 a 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.