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From Strength to Sterling! HoldCo Declares 157% Profit Spike, Launches ₦53bn Fundraising Drive
Sterling Financial Holdings Company Plc (Sterling HoldCo) has reported a 157% year-on-year increase in profit after tax for the first half of 2025 and announced plans to launch a ₦53 billion public offer as part of its ongoing capital-raising programme.....KINDLY READ THE FULL STORY HERE▶
According to its unaudited financial statements released on Wednesday, the group’s profit after tax rose sharply to ₦41.78 billion from ₦16.26 billion in the same period of 2024. Earnings per share also grew to 89 Kobo, compared to 56 Kobo recorded previously.
Sterling HoldCo’s gross earnings climbed by 39.7% to ₦212.61 billion, driven by a 38.3% rise in interest income and a 45% jump in non-interest income. Its cost-to-income ratio improved significantly to 64.5% from 75.7%—a sign of growing operational efficiency.
As of June 2025, the group’s total assets stood at ₦4.08 trillion, up from ₦3.54 trillion at the end of December 2024. Shareholders’ funds also rose by 22.9%, buoyed by recent capital injections.
The group attributed its improved financial performance to the success of its earlier capital raise, which brought in approximately ₦100 billion through a private placement and rights issue. The funds were used to recapitalise The Alternative Bank and strengthen Sterling Bank’s capital base.
Building on this momentum, Sterling HoldCo announced that it will soon open the public phase of its capital-raising campaign. The ₦53 billion public offer marks the first tranche of a US$400 million programme approved by shareholders at the company’s Annual General Meeting in June.
Group CEO, Mr. Yemi Odubiyi, credited the stellar results to a well-defined strategic focus and a commitment to building a resilient, agile business.
“As we continue to diversify our income streams and improve operational efficiency, we remain firmly committed to responsible growth, prudent risk management, and delivering sustainable impact,” Odubiyi said.
Looking ahead, he noted that Sterling HoldCo plans to deepen its investments in high-growth sectors such as renewable energy, healthcare, and community development—while maintaining a strong focus on financial sustainability and risk discipline.
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