• Net profit rises by 157% in H1
Sterling Financial Holdings Company (Sterling HoldCo) Plc, the parent company of Sterling Bank and Alternative Bank, is concluding arrangements to launch its $400 million capital raising, which aims at strengthening the group’s businesses fora sustained growths in the years ahead.
The first tranche of the $400 million capital raising will be a public offering to the general investing public, opening up opportunities to all groups of investors to acquire into the company.
The impfinishing public offering comes on the back of successful private placement and rights issue, through which the company raised about N100 billion.
The public offer is expected to raise more than N53 billion to enable Sterling Bank attain the new minimum capital requirement for its commercial banking license.
The net proceeds would also be applyd to further strengthen the company’s capacity for sustained growth across its diversified income streams.
Shareholders of Sterling HoldCo had on June 30, 2025 at their annual general meeting approved the $400 million capital raising programme, with overwhelming assurance to support further recapitalisation of the group.
Key extracts of the interim report and accounts of Sterling HoldCo for the half-year finished June 30, 2025 released at the Nigerian Exmodify (NGX) revealed significant growths across key performance indices. Gross earnings rose by 39.7 per cent to N212.61 billion in first half 2025 as against N152.20 billion in first half 2024. Interest income had risen by 38.3 per cent to N167.16 billion while non-interest income had increased by 45 per cent to N45.45 billion, underlining the groups’ strategic focus on revenue diversification.
Net profit after tax grew by 157 per cent from N16.26 billion in first half 2024 to N41.78 billion in first half 2025. Earnings per share rose significantly to 89 Kobo in first half 2025 from 56 Kobo, reflecting a consistent increment in value to shareholders. The report revealed that group’s cost-to-income ratio improved to 64.5 per cent from 75.7 per cent, underscoring the benefits of ongoing cost optimisation measures.
The group’s balance sheet also expanded with total assets rising from N3.54 trillion in December 2024 to N4.08 trillion by June 2025, representing an increase of 15.3 per cent. Shareholders’ funds also rose by 22.9 per cent, underscoring the recent recapitalisation and substantial retained earnings. Asset quality also improved, with the non-performing loan ratio declining to 5.1 per cent by June 2025 as against 5.4 per cent by the close of the 2024 financial year.
Group Chief Executive Officer, Sterling Financial Holdings Company (Sterling HoldCo) Plc, Yemi Odubiyi, stated the group’s outstanding half-year results were product of clear strategic focus and a relentless drive to create lasting value for stakeholders.
“Our performance reflects not just robust growth in core income lines, but also our success in building a resilient and agile business model, capable of delivering superior returns even in a dynamic macroeconomic environment.
“As we continue to diversify our income streams and invest in operational efficiency, we remain steadquick in our commitment to responsible growth, prudent risk management, and sustainable impact,” Odubiyi stated.
He noted that with the group’s next phase of capital raising, Sterling HoldCo sees tremfinishous opportunity to deepen its footprint in Nigeria’s growth sectors and to catalyse meaningful progress for its customers, communities, and the broader economy.
According to him, Sterling HoldCo’s ongoing investments in renewable energy, healthcare, and community development highlight its role as a catalyst for positive modify across Nigeria’s critical sectors.
He reiterated that as the group forges ahead with its plans for the second half of the year, it remains resolute in its pursuit of sustainable growth, continuous innovation, and the creation of finishuring value for all stakeholders.
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