Amanze ChinonyeSterling Financial Holdings Company Plc (Sterling HoldCo) has announced a 157% increase in its profit-after-tax for the half-year ended June 30, 2025, with earnings climbing to ₦41.78 billion from ₦16.26 billion in the same period last year.
The unaudited financial results, released Thursday, showed strong revenue performance, improved cost efficiency, and a firm capital position. Gross earnings grew by 39.7% year-on-year, rising to ₦212.61 billion compared to ₦152.20 billion in the first half of 2024.
Join our WhatsApp ChannelInterest income hit ₦167.16 billion, up 38.3%, while non-interest income rose 45% to ₦45.45 billion, reflecting the Group’s focus on revenue diversification.
The Group’s cost-to-income ratio also improved significantly, dropping to 64.5% from 75.7%, as management efforts toward cost optimisation yielded tangible results.
Sterling HoldCo’s total assets reached ₦4.08 trillion by the end of June, marking a 15.3% rise from ₦3.54 trillion in December 2024. Shareholders’ funds were up 22.9%, supported by recent recapitalisation and retained earnings. The Group’s non-performing loan ratio improved slightly to 5.1% from 5.4%.
The Group had earlier raised approximately ₦100 billion through a private placement and rights issue, which facilitated the full recapitalisation of The Alternative Bank and bolstered the capital base of its flagship subsidiary, Sterling Bank.
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Looking ahead, Sterling HoldCo disclosed plans to launch a public offer in the coming weeks to raise an additional ₦53 billion to close Sterling Bank’s recapitalisation gap. The offer is the first phase of a broader US$400 million capital raising programme approved by shareholders at the company’s Annual General Meeting held on June 30, 2025.
Commenting on the results, Group CEO Yemi Odubiyi attributed the performance to clear strategic execution and resilient business fundamentals.
“Our outstanding half-year results are the product of clear strategic focus and a relentless drive to create lasting value for our stakeholders,” Odubiyi said. “As we continue to diversify our income streams and invest in operational efficiency, we remain committed to responsible growth, prudent risk management, and sustainable impact.”
Sterling HoldCo has also continued to channel investments into priority sectors, including renewable energy, healthcare, and community development, reinforcing its position as a catalyst for inclusive economic growth.
With a strong half-year showing and a capital raise in motion, the Group says it is positioned to deepen its presence in Nigeria’s growth sectors while sustaining innovation and long-term value creation.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
