Sterling Financial Holdings Company Plc delivered a strong performance in the third quarter of 2025, with profit before tax rising to N25.4 billion, up from N12.07 billion in the same quarter last year.
Profit after tax stood at N20.5 billion, an 83.5% year-on-year increase, driven by robust interest income growth and improved operating efficiency.
For the nine-month period, profit before tax surged 141% YoY to N70.96 billion from N29.4 billion, while profit after tax rose to N62.2 billion from N27.4 billion a year earlier.
Sterling recorded interest income of N95.3 billion in Q3 2025, compared to N68.2 billion in Q3 2024, a 39.5% year-on-year growth.
This improvement was largely supported by an expanding loan book (N59.6 billion, up 8.4% YTD) and strong yields on investment securities.
Interest expenses rose by 50.9% to N49.6 billion due to higher deposit costs. However, the Group maintained a healthy net interest margin, with net interest income climbing 28.96% YoY to N45.6 billion.
Net fee and commission income rose sharply to N13.8 billion, reflecting improved transaction volumes across retail, digital, and corporate segments.
Trading income more than tripled to N9.76 billion, supported by gains from fixed-income and foreign exchange transactions.
Other operating income came in at N10.21 billion, up 22% YoY, bringing total operating income to N79.4 billion, a significant step-up from N52.06 billion last year.
Sterling saw a rise in expenses in Q3, 2025.
Depreciation and amortization expenses also rose from N1.17 billion to N2.23 billion, reflecting ongoing investments in property and equipment.
Despite these increases, Sterling’s cost-to-income ratio improved as an operating income of N79.4 billion overshadowed expenses, driving a 110.5% rise in profit before tax to N25.41 billion.
The group’s balance sheet remains solid, with total assets growing by 15.5% year-to-date to reach N4.09 trillion.
Customer deposits grew by 14.3% to N2.8 trillion, reflecting strong deposit inflows.
Shareholders’ equity climbed 33% YTD to N405.5 billion, supported by retained earnings (N102.1 billion), share premium (N130.9 billion), and other components of equity (N146.3 billion).