Between January and June 2025, Sterling Financial Holdings Company Plc posted a profit after tax of N41.8 billion, which is about 157 per cent higher than the N16.3 billion recorded in the corresponding period of 2024, with its earnings per share (EPS) growing to 89 Kobo from 56 Kobo.
In his unaudited results for the half-year ended June 30, 2025, the financial service provider demonstrated continued momentum in revenue growth, operational efficiency, and capital position, as its gross earnings climbed by 39.7 per cent to N212.6 billion from N152.2 billion in 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 its strategic focus on revenue diversification.
Additionally, the cost-to-income ratio improved to 64.5 per cent from 75.7 per cent, underscoring the benefits of ongoing cost optimisation measures.
Further, total assets expanded on a year-to-date basis by 15.3 per cent to N4.08 trillion from N3.54 trillion in December 2024, while shareholders’ funds were up 22.9 per cent for the period, reflecting the impact of recent recapitalisation and healthy retained earnings.
The results showed that 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 organisation’s strong showing in the first half of the year followed a successful private placement and rights issue, through which approximately N100 billion was raised, with the proceeds used for the full recapitalisation of Alternative Bank and strengthening of the capital base of Sterling Bank, its flagship subsidiary.
“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 tremendous opportunity to deepen our footprint in Nigeria’s growth sectors and to catalyse meaningful progress for our customers, communities, and the broader economy,” the chief executive of Sterling HoldCo, Yemi Odubiyi, stated.