By Ayomide Otitoju
Sterling Financial Holdings Company Plc (Sterling HoldCo) has reported a 157% year-on-year increase in profit after tax, reaching ₦41.78 billion for the half-year ended June 30, 2025, up from ₦16.26 billion in the same period of 2024.
The unaudited financial results released on Wednesday showed earnings per share rose to 89 kobo from 56 kobo. Gross earnings also grew by 39.7% to ₦212.61 billion, driven by a 38.3% rise in interest income and a 45% increase in non-interest income.
Sterling HoldCo reported an improvement in operational efficiency, with its cost-to-income ratio dropping to 64.5%, from 75.7% in the corresponding period last year. Total assets expanded to ₦4.08 trillion as of June 2025, up from ₦3.54 trillion in December 2024. Shareholders’ funds increased by 22.9%, supported by recent capital injections.
The group attributed the improved performance to the success of its earlier ₦100 billion capital raise through a private placement and rights issue, which helped recapitalise The Alternative Bank and bolster Sterling Bank’s capital base.
To sustain growth and meet regulatory recapitalisation requirements, Sterling HoldCo said it will launch a public offer in the coming weeks, aiming to raise ₦53 billion as part of a broader US$400 million capital programme approved at its June annual general meeting.
Group CEO Yemi Odubiyi credited the results to a clear strategic direction and a resilient business model. “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,” he said.
Looking ahead, Odubiyi said the company will deepen investments in renewable energy, healthcare, and community development, while maintaining a strong focus on sustainability across its operations.
