By Ayomide Otitoju
Sterling Financial Holdings has notified shareholders and the Nigerian Exchange Group (NGX) of a delay in the release of its audited financial statements for the fiscal year ended December 31, 2024, as well as its unaudited results for the first quarter of 2025.
The disclosure, signed by Company Secretary Mr. Olayinka Oni, was published on May 7, 2025. The company attributed the delay to the ongoing finalization of its year-end audit, which is being conducted in collaboration with external auditors.
Sterling Financial Holdings stated that both sets of financial results would be published on or before June 28, 2025, pending the receipt of all necessary regulatory approvals.
The firm also confirmed that the closed period—initially declared on January 1, 2025—will remain in effect until the audited and unaudited results are released. During this period, directors, senior management, and other insiders are prohibited from trading in the company’s shares, in line with regulatory requirements.
Earlier in January 2025, Sterling released its unaudited interim financial results for the year ended December 31, 2024, which reflected a strong financial performance. The group reported a 97.21% increase in profit before tax, reaching ₦44.7 billion. This growth was largely driven by a 67.09% surge in net interest income, attributed to higher earnings from loans and advances to customers.
Operating profit rose by 42.54% to ₦199.8 billion, while net fees and commissions increased by 21.15%, highlighting operational strength. Earnings per share climbed by 72% to ₦1.29, and total assets grew by 39.05% to ₦3.52 trillion, reinforcing the company’s robust financial position.
