Sterling Financial Holdings Company Plc (“Sterling HoldCo” or “the Group”) has reported an impressive 157% year-on-year increase in profit after tax (PAT) for the half-year ended June 30, 2025, reflecting robust financial performance driven by strong revenue growth, enhanced operational efficiency, and a strengthened capital base.
The Group’s PAT rose to ₦41.78 billion, up from ₦16.26 billion in H1 2024. Earnings per share surged to 89 Kobo, compared to 56 Kobo in the prior-year period, underscoring increased returns to shareholders.
Strong Revenue and Operational Efficiency Drive Growth
Sterling HoldCo also recorded a 39.7% rise in gross earnings to ₦212.61 billion from ₦152.20 billion. Interest income grew by 38.3% to ₦167.16 billion, while non-interest income expanded by 45% to ₦45.45 billion—demonstrating the Group’s continued focus on diversifying its revenue streams.
Operational efficiency saw marked improvement, with the cost-to-income ratio improving to 64.5%, down from 75.7% in H1 2024, highlighting the success of ongoing cost optimization strategies.
As of June 2025, total assets stood at ₦4.08 trillion, up 15.3% from ₦3.54 trillion recorded in December 2024. Shareholders’ funds grew by 22.9%, reflecting successful recapitalisation efforts and strong retained earnings. Asset quality improved as the non-performing loan ratio declined to 5.1% from 5.4% at the end of 2024.
This strong performance was underpinned by a successful private placement and rights issue, through which the Group raised approximately ₦100 billion. The capital raised enabled the full recapitalisation of The Alternative Bank and bolstered the financial standing of Sterling Bank, the Group’s primary banking subsidiary.
Building on this momentum, Sterling HoldCo is set to launch the public phase of its capital raising programme in the coming weeks, targeting an additional ₦53 billion to close the recapitalisation gap of Sterling Bank. This public offer marks the initial phase of a US$400 million capital raising initiative approved by shareholders at the Annual General Meeting held on June 30, 2025.
Strategic Vision and Outlook
Group CEO Yemi Odubiyi commented on the results, stating:
“Our exceptional half-year performance is a testament to disciplined execution and strategic clarity. It reflects our commitment to creating sustainable value, underpinned by resilient earnings and a forward-thinking business model. As we prepare for the next stage of our capital programme, we are excited about the opportunities to expand our presence across Nigeria’s key growth sectors and to drive meaningful impact for our stakeholders.”
Sterling HoldCo continues to prioritise investments in renewable energy, healthcare, and community development, reinforcing its role as a key enabler of socio-economic transformation.
As the Group advances into the second half of 2025, it remains focused on delivering sustainable growth, driving innovation, and creating long-term value for investors, customers, and the broader economy.
