Sterling Financial Holdings Company Plc has released its results for the first quarter ended March 31, 2025, reporting a pre-tax profit of N18.2 billion, a 125.29% increase compared to the same period last year.
The result builds on the company’s full-year 2024 performance, where pre-tax profit stood at N45.8 billion, up from N22.6 billion in 2023.
In the first quarter of 2025, interest income was the key driver of profitability, rising by 41.66% to N78.3 billion from N55.3 billion in the previous year.
Although interest expenses increased to N30.9 billion from N28 billion in the quarter, net interest income still grew significantly, climbing 74.12% year-on-year to N47.4 billion.
The group also earned N10.1 billion from net fees and commissions, a 41.67% increase from N7.1 billion, contributing to total operating income of N64.3 billion, up 49.74% from the prior year.
After accounting for impairments, net operating income stood at N61.8 billion, representing a 50.46% increase from N41.1 billion recorded in Q1 2024.
Sterling also declared a final dividend of 18 kobo per ordinary share of 50 kobo each. The dividend, subject to applicable withholding tax, will be paid to qualified shareholders on 11 July 2025.
As of the trading day ended 18th June 2025, STERLING was priced at N5.05 on the Nigerian Exchange.