Sterling HoldCo Reports 157% Surge in H1 Profit After Tax to ₦41.78bn, Plans ₦53bn in Public Offer to Bolster Capital Base

Sterling Financial Holdings Company Plc (Sterling HoldCo) has reported a profit after tax of ₦41.78 billion for H1 2025, a 157% increase compared to ₦16.26 billion in the same period last year.

The sharp rise highlights the impact of the group’s ongoing recapitalisation and strategic investments across its banking subsidiaries.

Earnings per share rose to 89 Kobo from 56 Kobo, underlining improved shareholder returns.

Gross earnings climbed by 39.7% to ₦212.61 billion, driven by a 38.3% rise in interest income and a significant 45% boost in non-interest income, reflecting growing revenue diversification.

Sterling HoldCo’s cost-to-income ratio improved, dropping to 64.5% from 75.7% in H1 2024, a sign of enhanced operational efficiency.

Total assets stood at ₦4.08 trillion as of June 2025, up from ₦3.54 trillion in December 2024, while shareholders’ funds rose 22.9%, strengthened by a successful ₦100 billion capital raise through a private placement and rights issue.

₦53bn Public Offer Kicks Off Broader US$400m Capital Plan

Sterling HoldCo plans to launch a ₦53 billion public offer in the coming weeks, marking the first tranche of its US$400 million capital raising programme approved at its June Annual General Meeting.

The offer aims to support ongoing recapitalisation efforts and fund strategic expansion, particularly in a high-impact financial sector.

Group CEO, Mr. Yemi Odubiyi, credited the performance to “a clear strategic focus” and “a resilient and agile business model.” He emphasized the firm’s commitment to “responsible growth, prudent risk management, and sustainable impact,” noting future investments would deepen in renewable energy, healthcare, and community development.

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