According to the unaudited financial results released on Wednesday, profit after tax rose sharply to ₦41.78 billion, compared to ₦16.26 billion in the same period last year. The impressive performance also translated to stronger returns for shareholders, with earnings per share climbing to 89 Kobo, up from 56 Kobo in H1 2024.
Robust Revenue Growth and Efficiency Gains
The group’s gross earnings grew by 39.7% to ₦212.61 billion, driven by broad-based improvements in its income streams. Interest income surged by 38.3%, while non-interest income saw a 45% increase, reflecting the company’s strategic push to diversify its revenue base.
Sterling HoldCo also recorded a significant improvement in operational efficiency, with its cost-to-income ratio improving to 64.5%, down from 75.7% in the prior-year period — a clear indication of tighter cost control and stronger productivity.
Strengthened Balance Sheet and Capital Base
Sterling’s total assets stood at ₦4.08 trillion as of June 2025, up from ₦3.54 trillion in December 2024, while shareholders’ funds rose by 22.9%, bolstered by recent capital inflows. The company attributed its improved capital position to a successful ₦100 billion raised via private placement and rights issue, proceeds of which were used to recapitalise its two core banking subsidiaries: Sterling Bank and The Alternative Bank.
The group is now preparing to launch a public offer in the coming weeks, targeting ₦53 billion as part of the first tranche of its $400 million capital programme approved at its annual general meeting in June. The new capital raise aims to meet regulatory recapitalisation requirements and support Sterling’s ongoing expansion into priority sectors.
Strategic Vision and Sectoral Focus
Commenting on the results and the company’s future outlook, Group CEO Yemi Odubiyi credited the firm’s robust financial performance to a clear strategic direction and a disciplined, 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,” Odubiyi said.
Looking ahead, Sterling HoldCo plans to deepen its footprint in key sectors of the Nigerian economy — with a focus on renewable energy, healthcare, and community development. The group says these investments will be guided by a commitment to sustainability, inclusion, and long-term economic value.
The upcoming public offer marks a significant milestone in Sterling’s capital journey and signals growing investor confidence in its strategy. With a strong financial foundation, bold expansion plans, and an eye on impact-driven growth, Sterling HoldCo appears well-positioned to capitalise on new opportunities in Nigeria’s evolving financial landscape.