Sterling HoldCo Posts 157% Profit Growth in H1 2025, Eyes ₦53 Billion Public Offer
Sterling Financial Holdings Company Plc (“Sterling HoldCo” or “the Group”) reported an impressive 157% year-on-year increase in profit-after-tax (PAT) for the half-year ending June 30, 2025. The results underscore the Group’s strong momentum in revenue growth, operational efficiency, and capital strength.
The Group’s PAT surged to ₦41.78 billion from ₦16.26 billion in the same period last year, with earnings per share rising to 89 Kobo from 56 Kobo, delivering increased value to shareholders.
Gross earnings grew by 39.7% to ₦212.61 billion from ₦152.20 billion in H1 2024, while interest income increased by 38.3% to ₦167.16 billion. Non-interest income also saw a significant 45% rise to ₦45.45 billion, reflecting the Group’s strategic emphasis on diversification of revenue streams.
Cost-to-income ratio improved notably to 64.5% from 75.7%, highlighting successful cost management initiatives.
Total assets expanded by 15.3% to ₦4.08 trillion from ₦3.54 trillion at the end of December 2024, and shareholders’ funds increased by 22.9%, supported by recent recapitalization efforts and retained earnings. Asset quality also strengthened, with non-performing loan (NPL) ratio declining slightly to 5.1% from 5.4%.
The Group’s robust performance was bolstered by a successful private placement and rights issue that raised approximately ₦100 billion, facilitating the full recapitalization of Alternative Bank and bolstering Sterling Bank’s capital base.
Looking ahead, Sterling HoldCo announced plans to initiate the public phase of its capital raising programme in the coming weeks, targeting to close the ₦53 billion recapitalization gap at Sterling Bank. This phase is part of a broader US$400 million capital raising initiative approved by shareholders at the AGM held on June 30, 2025.
Yemi Odubiyi, Group CEO, stated:
“Our stellar half-year results reflect our strategic focus and unwavering commitment to creating sustainable value. We are building a resilient and agile business capable of delivering superior returns amid a dynamic macroeconomic landscape. As we deepen our diversification and operational efficiency efforts, we aim to foster responsible growth and meaningful impact across Nigeria’s key sectors.”
Sterling HoldCo continues to invest in critical areas such as renewable energy, healthcare, and community development, positioning itself as a catalyst for positive change in Nigeria.
As the Group advances into the second half of 2025, it remains dedicated to sustainable growth, innovation, and delivering lasting value for stakeholders.