By Ayomide Otitoju
Sterling Financial Holdings Company Plc (Sterling HoldCo) has announced a 157% increase in profit after tax (PAT), reaching ₦41.78 billion in the first half of 2025, up from ₦16.26 billion in the same period of 2024. The unaudited results, released Wednesday, also detail the Group’s next steps in a recapitalisation drive that includes a forthcoming public offer.
Earnings per share rose from 56 kobo to 89 kobo, while gross earnings climbed 39.7% to ₦212.61 billion. Interest income grew 38.3% to ₦167.16 billion, and non-interest income rose 45% to ₦45.45 billion. The Group’s cost-to-income ratio improved to 64.5% from 75.7%, reflecting gains in operational efficiency.
Total assets increased to ₦4.08 trillion from ₦3.54 trillion in December 2024, and shareholders’ funds rose by 22.9%. The non-performing loan ratio also improved, falling to 5.1% from 5.4%.
The Group’s recapitalisation efforts included a successful ₦100 billion private placement and rights issue, used to recapitalise its subsidiaries—Alternative Bank and Sterling Bank. To close the remaining ₦53 billion gap, the Group will soon launch a public offer under a broader US$400 million capital-raising programme approved by shareholders in June.
Group CEO Yemi Odubiyi credited the performance to a strategic focus and commitment to sustainable growth. “Our half-year results underscore our clear strategy, prudent risk management, and focus on value creation,” he said.
Sterling HoldCo also highlighted investments in renewable energy, healthcare, and community development as part of its long-term impact agenda. The Group reiterated its focus on innovation, diversification, and inclusive growth for the remainder of 2025.
