Lagos, Nigeria – Sterling Financial Holdings Company Plc (“Sterling HoldCo” or “the Group”) has recorded an impressive 157% increase in profit after tax (PAT) in its unaudited financial results for the first half of 2025, showcasing continued momentum in revenue growth, cost efficiency, and a strong capital position.
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The Group’s PAT soared to ₦41.78 billion, up from ₦16.26 billion in the same period last year. Earnings per share also jumped to 89 Kobo from 56 Kobo, indicating steady value creation for shareholders.
Gross earnings grew by nearly 40% to ₦212.61 billion from ₦152.20 billion in H1 2024. Interest income rose 38.3% to ₦167.16 billion, while non-interest income climbed 45% to ₦45.45 billion — reflecting the Group’s strategic push for diversified revenue streams.
Operational efficiency also improved, as Sterling HoldCo reduced its cost-to-income ratio to 64.5%, down from 75.7% a year ago, thanks to ongoing cost-cutting and productivity measures.
By the end of June 2025, total assets stood at ₦4.08 trillion — a 15.3% increase from ₦3.54 trillion in December 2024. Shareholders’ funds rose by 22.9%, supported by solid retained earnings and a recent successful recapitalisation.
Asset quality improved as well, with the Group’s non-performing loan ratio dropping from 5.4% to 5.1%.
This strong financial performance follows a successful private placement and rights issue that raised about ₦100 billion. The funds enabled the full recapitalisation of Alternative Bank and bolstered Sterling Bank’s capital base — the flagship of the Group.
In the coming weeks, Sterling HoldCo will launch the public phase of its capital-raising programme to bridge the remaining ₦53 billion capitalisation gap for Sterling Bank and support the company’s growth plans. This marks the beginning of a larger US$400 million capital raise approved by shareholders at the Group’s AGM held on June 30, 2025.
Commenting on the performance, Group CEO Yemi Odubiyi stated:
“Our exceptional half-year results reflect the strength of our strategic direction and our determination to deliver long-term value. The growth across our core business lines, paired with a resilient and adaptable model, puts us in a solid position — even amid economic challenges.
As we look ahead, our focus remains on expanding our reach in key growth sectors, investing in operational efficiency, and driving sustainable impact across the communities we serve.”
Sterling HoldCo continues to invest in priority areas such as renewable energy, healthcare, and community development — reinforcing its role as a force for positive change in Nigeria’s evolving economy.
As the second half of 2025 unfolds, the Group remains committed to innovation, responsible growth, and delivering meaningful progress for its stakeholders.
