Sterling Financial Holdings Company Plc (Sterling HoldCo) has reported a 157 per cent year-on-year growth in profit after tax (PAT) for the first half of 2025, according to its unaudited results for the period ended 30 June.
The Group’s PAT climbed to ₦41.78 billion, a sharp rise from ₦16.26 billion recorded in the same period last year. The performance comes amid stronger gross earnings, improved cost efficiency, and rising shareholder value.
Earnings per share rose to 89 kobo from 56 kobo, while gross earnings increased by 39.7 per cent to ₦212.61 billion. Interest income grew by 38.3 per cent to ₦167.16 billion, and non-interest income surged by 45 per cent to ₦45.45 billion, pointing to stronger revenue diversification across business lines.
Sterling HoldCo also reported a 15.3 per cent growth in total assets to ₦4.08 trillion, up from ₦3.54 trillion as at December 2024. Shareholders’ funds rose by nearly 23 per cent, driven by recapitalisation and retained earnings. Asset quality improved marginally, with the non-performing loan ratio dropping to 5.1 per cent from 5.4 per cent at the end of last year.
The cost-to-income ratio improved to 64.5 per cent from 75.7 per cent, reflecting what the company described as “ongoing cost optimisation”.
The strong showing follows a recent capital raise of approximately ₦100 billion via private placement and rights issue. The capital injection helped recapitalise Alternative Bank and bolstered the balance sheet of Sterling Bank, the Group’s leading subsidiary.
Sterling HoldCo now plans to launch a public offer in the coming weeks to raise an additional ₦53 billion needed to complete Sterling Bank’s recapitalisation.
The public phase is part of a wider US$400 million capital programme approved by shareholders at the company’s annual general meeting on 30 June.
Commenting on the results, Group CEO Yemi Odubiyi said the company’s performance reflects “clear strategic focus” and a resilient business model suited to Nigeria’s volatile macroeconomic climate.
“As we continue to diversify our income streams and invest in operational efficiency, we remain committed to responsible growth and sustainable impact,” he said.
Sterling HoldCo has, in recent years, channelled significant investment into sectors including renewable energy, healthcare, and financial inclusion, positioning itself as an emerging player in the sustainable finance ecosystem.
The public offer, once launched, is expected to attract interest from institutional and retail investors keen to participate in the Group’s long-term growth plans.
