Tag: Sterling Holdco

Sterling Financial Holdings Company (Sterling HoldCo) Plc doubled its bottom-line performance in the third quarter, reinforcing investors’ confidence in the banking group’s outlook.

Key extracts of the interim report and accounts of Sterling HoldCo for the third quarter ended September 30, 2025 showed that net profit jumped by 127 per cent, on the back of 44.1 per cent growth in gross earnings and significant improvements in margins.

The nine-month report released at the Nigerian Exchange (NGX) indicated that profit after tax rose to N62.3 billion in third quarter 2025. Group’s gross earnings rose to N341.7 billion in third quarter 2025 as against N237.2 billion in corresponding period of 2024. The top-line performance was driven by significant growths in both interest and non-interest income lines.

Interest income had grown by 38.7 per cent to N262.4 billion, supported by an expanded earning asset base, while non-interest income increased by 65.1 per cent N79.2 billion, reflecting the group’s continued success in diversifying its revenue streams.

The group’s balance sheet also expanded considerably with total assets rising by 15.5 per cent from N3.54 trillion in December 2024 to N4.09 trillion in September 2025, driven by growth in loans, investment securities, and liquid assets.

Customer deposits also grew by 14.3 per cent to N2.88 trillion, while shareholders’ funds increased by 32.9 per cent to N405.5 billion, up from N305.2 billion in December 2024, highlighting the group’s solid capital base and its capacity to sustain future expansion.

Group Chief Executive, Sterling Financial Holdings Company Plc, Yemi Odubiyi, said the performance was a testament to the group’s robust earnings capacity, operational efficiency, and disciplined execution.

He said: “Our performance over the first nine months of 2025 demonstrates the strength and adaptability of our group structure. The significant growth in profit after tax underscores the success of our strategy to operate as a diversified financial services group delivering value through both our conventional, non-interest banking, and asset management subsidiaries”.

Read Also: Dangote Refinery can meet Nigeria’s fuel demand, no need for importation – Group

According to him, the results highlighted disciplined risk management, innovative product delivery, and an unrelenting focus on sectors that drive real economic impact.

“We are equally grateful to our shareholders and the investing public for their confidence in the group, as reflected in the resounding success of our recently concluded public offer of 12.58 billion ordinary shares.

“As we continue to invest in technology and operational excellence, our goal remains clear: to build a resilient institution that consistently delivers sustainable returns,” Odubiyi said.

He noted that with deepening synergies across its subsidiaries, Sterling HoldCo remains firmly on course to sustain its growth momentum through the final quarter of the year.

He said: “The group is strategically positioned to scale its presence across Nigeria’s high impact sectors, advance financial inclusion, and power innovation that drives real-sector growth.

“Guided by its heritage of trust and a commitment to excellence, Sterling HoldCo continues to champion sustainable finance and technology-driven solutions shaping the future of African financial services”.

• As new investors rally

Sterling Financial Holdings Company Plc. (‘Sterling Holdco’), the parent company of The Alternative Bank, Sterling Bank, SterlingFI, and a number of other novel business solutions, has witnessed a very positive response to its public offer, as investors rally for a stake in the company’s future. The public offer, launched on September 17, 2025, has quickly become one of the most talked-about opportunities in the Nigerian financial market, with analysts predicting that the offer will prove to be amongst the most lucrative in the sector’s investment landscape.

The Sterling Public Offer has sparked widespread interest, with market experts noting that the price, which is about six per cent below its current trading price, presents an attractive entry point for both institutional and retail investors. The offer is set to close soon, but the rapid pace of interest has led many to speculate that the full subscription has already been reached or even exceeded much earlier than expected.

According to leading financial analysts, Sterling Holdco’s strategic expansion plans, solid market position, and innovative financial products have positioned it as a major contender in Nigeria’s banking sector.

The public offer is widely regarded as an exciting proposition for investors looking to capitalise on a company with strong fundamentals and an ambitious growth trajectory. With a price point set at a discount to current trading prices, the offer is seen as a compelling opportunity for both long-term and short-term investors.

Read Also: First Lady hosts Russian BRICS women’s Business Alliance

Sterling Holdco has consistently demonstrated a commitment to innovation and sustainable growth. One of the most compelling indicators of the company’s underlying strength is the impressive growth of its share price. In the past year, the Holding company’s share price has grown steadily from N4.00 to nearly N8.00 per share. This increase in the company’s stock price speaks volumes about the underlying value and confidence in its business model, leadership, and growth trajectory.

Sterling Holdco, known for its strategic ownership of two banks, a wealth management company, and a number of innovative consumer businesses, is seeking to raise additional capital through the issuance of 12.58 billion ordinary shares at N7.00 per share. The proceeds from the public offer will be strategically deployed to further strengthen the Holdco’s capital base and fund its growth initiatives over the next 36 months.

About Sterling Financial Holdings Company Plc. Sterling Financial Holdings Company PLC (Sterling HoldCo) is a leading Nigerian financial services group committed to enriching lives through innovation and impact with a diversified portfolio that includes Sterling Bank Limited, The Alternative Bank Limited, SterlingFI Wealth Management among others. As a HoldCo, Sterling provides strategic direction, governance, and resources across its subsidiaries, enabling each to focus on its core mandate while benefiting from group-wide expertise, technology, and oversight.

With a heritage of trust built over six decades, Sterling HoldCo is committed to financial innovation, advancing inclusion, and shaping sustainable growth in Nigeria’s economy.

The group champions customer-focused solutions and socially responsible initiatives while creating value for shareholders, employees, and the communities it serves, and continues to pioneer offerings across its core businesses in banking, payments, and technology- driven financial services.

Sterling Financial Holdings Company Plc (Sterling HoldCo) expected its strong growth momentum to continue into the fourth quarter, with gross earnings projected at N149.3 billion within the last three months of the year.

Earnings forecast filed at the Nigerian Exchange yesterday indicated that the group would close the year ending December 31, 2024 with substantial growths in key performance indicators.

Sterling HoldCo included Sterling Bank Limited, The Alternative Bank Limited and SterlingFI Wealth Management among others.

Sterling HoldCo expected gross earnings of N149.27 billion, with interest income driving the top-line at N116.73 billion. Interest expense was projected at N42.88 billion, resulting in net revenue from funds of N73.85 billion.

The group also anticipated credit impairment charges of N16.84 billion, with other income projected at N28.37 billion, bringing expected net operating income to N85.37 billion.

With operating expenses estimated at N67.24 billion, pre-tax profit was projected at N18.13 billion. After accounting for a projected tax of N1.88 billion, profit after tax was estimated at N16.25 billion for the quarter.

Besides, Sterling’s cash flow outlook underscored the strength of the group’s balance sheet. The group projected N13.56 billion in net cash generated from operating activities, alongside N266.16 billion in financing inflows and N187.93 billion in investing activities. There were expected to deliver a net increase of N91.79 billion in cash and cash equivalents, with the cash and bank balance closing at N549.90 billion by year-end, compared to N458.11 billion at the start of the quarter.

The fourth quarter forecast strengthened Sterling HoldCo’s earnings outlook, after the group recorded significant growths in the first half.

Key extracts of the interim report and accounts of Sterling HoldCo for the half-year ended June 30, 2025 had shown significant growths across key performance indices. Gross earnings had risen 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.

Read Also: Tinubu orders further crash in food prices

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 showed 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.

The fourth quarter projections underlined Sterling HoldCo’s disciplined focus on cost management, diversified income streams, and prudent balance sheet growth.

The management of the bank said the outlook highlighted the group’s capacity to channel its financial strength into broader impact.

Sterling HoldCo stated that it has been positioned to support key growth sectors of the Nigerian economy, invest in innovation, and continue creating value for shareholders, customers, and communities.

The group noted that its ability to generate strong operating cashflows while maintaining significant liquidity positions provides a foundation for resilience.

According to the management, the underlying strength of the group ensures that it is not only positioned to deliver value to its shareholders but also equipped to deepen its participation in Nigeria’s growth sectors, drive innovation, and support broader economic progress.

• 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 buy into the company.

The impending 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 used 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.

READ ALSO: Transforming health sector

Key extracts of the interim report and accounts of Sterling HoldCo for the half-year ended June 30, 2025 released at the Nigerian Exchange (NGX) showed 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 showed 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, said 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 steadfast in our commitment to responsible growth, prudent risk management, and sustainable impact,” Odubiyi said.

He noted that with the group’s next phase of capital raising, Sterling HoldCo sees tremendous 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 change 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 enduring value for all stakeholders.

Nigeria: Sterling Financial Holdings Company Plc (“Sterling HoldCo” or “the Group”) has reported a 157% year-on-year surge in profit-after-tax (PAT) in itsunaudited results for the half-year ended June 30, 2025, demonstrating continuedmomentum in revenue growth, operational efficiency, and capital position.

The Group’s PAT reached ₦41.78 billion, up from ₦16.26 billion in the same period last year. Earnings per share rose significantly to 89 Kobo from 56 Kobo, reflecting a consistent increment in value to shareholders. Gross earnings climbed by 39.7% to ₦212.61 billion, compared to ₦152.20 billion for H1 2024 while interest income rose by 38.3% to ₦167.16 billion, and non-interest income increased by 45% to ₦45.45 billion, attesting to the Group’s strategic focus on revenue diversification.

Additionally, the Group’s cost-to-income ratio improved to 64.5% from 75.7%, underscoring the benefits of ongoing cost optimisation measures.

Total assets stood at ₦4.08 trillion at the end of June, representing a 15.3% increase from ₦3.54 trillion in December 2024.

Shareholders’ funds were up 22.9% for the period, reflecting the impact of recent recapitalisation and healthy retained earnings.

Asset quality also improved, with the non-performing loan ratio declining to 5.1% from 5.4% at the close of the 2024 financial year.

The Group’s strong showing in the first half of the year followed a successful private placement and rights issue, through which approximately ₦100 billion was raised.

The proceeds enabled the full recapitalisation of Alternative Bank and further strengthened the capital base of Sterling Bank, the Group’s flagship subsidiary.

Read Also: Poverty, climate crisis, insecurity threaten half of Nigerians — Speaker Abbas

The Group is set to enter the public phase of its capital raising programme in the coming weeks, aiming to close the ₦53 billion recapitalisation gap of Sterling Bank and further strengthen the institution’s capacity for sustained growth across its diversified income streams.

This public offer is the first phase of the US$400m capital raising programme approved by Sterling Holdco’s shareholders at its Annual General Meeting which held on the 30th of June 2025.

Commenting on the Group’s feat and long-term vision, Yemi Odubiyi, Group Chief Executive Officer, Sterling Financial Holdings Company, said: “Our outstanding half-year results are the product of clear strategic focus and a relentless drive to create lasting value for our 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 steadfast in our commitment to responsible growth, prudent risk management, and sustainable impact. Looking ahead to the next phase of our capital programme, we see tremendous opportunity to deepen our footprint in Nigeria’s growth sectors and to catalyse meaningful progress for our customers, communities, and the broader economy.”

Sterling HoldCo’s ongoing investments in renewable energy, healthcare, and community development highlight its role as a catalyst for positive change across Nigeria’s critical sectors.

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 enduring value for all stakeholders.

Sterling Financial Holdings Company (Sterling Holdco) Plc has secured additional capital of about N75 billion in a major boost to the holding group’s efforts to recapitalise its banking subsidiaries.

Sterling Holdco’s flagship subsidiary- Sterling Bank, and its ethical banking arm, The Alternative Bank are required to raise additional equity capital to meet new capital requirements for banks under the ongoing Central Bank of Nigeria (CBN)’s recapitalisation exercise.

Transaction documents indicated Sterling Holdco raised $50 million or about N75 billion in a private placement subscribed to by a consortium of domestic investors and ultra-high-networth groups.

The placement, completed by all the parties, is in the final stages of approvals by the regulators.

Speaking at the signing ceremony for the placement, Group Chief Executive Officer, Sterling Financial Holdings Company (Sterling Holdco) Plc, Yemi Odubiyi, said that the capital raise signified the market’s confidence in the vision and potential of the group.

According to him, investors’ decision to entrust the group with their hard-earned capital is built on the group’s ability to challenge the norm in Nigeria’s financial services sector.

“Our investors recognise that beyond the profits declared and dividend payouts, we are an enterprise that has consistently demonstrated capacity for innovation, creating and leveraging new opportunities within and outside the industry to deliver value to all our stakeholders.

“From our modest beginnings as a merchant bank, we have evolved into a dynamic enterprise with a proven track record that extends well beyond conventional banking. Now powered by an embedded technology stack that is flexible to the unique demands of the market, we are more than confident in our ability to capture major growth opportunities in Nigeria and beyond,” Odubiyi said.

He added that the group’s vision, performance, and journey continue to be rewarded with the highest form of investor confidence, as exemplified by the injection of more capital.

“This infusion of funds not only reflects the trust our investors place in us, but also serves as a powerful endorsement of our strategy and future potential. With it, we reaffirm our commitment to driving social, sector, and economic growth beyond banking.

Read Also: N440m drugs contract: Speaker, five others ask court to stop arrest by ICPC

“By investing in and incubating new subsidiaries, we will prioritise value creation that stimulates and sustains growth for both the enterprise and the nation’s economy. Our investment strategy is anchored in sustainable practices that will deliver long-term value for society and consistent returns for investors,” Odubiyi said.

Last year, Sterling Holdco transitioned from a commercial bank to a full-fledged financial holdings company with two subsidiary banks.

Odubiyi noted that with several key businesses in the pipeline, the holding company is strategically positioned to seize opportunities beyond those available to its peers.

He pointed out that Sterling Holdco’s performance has seen a steady rise in its fortunes with a 51 per cent increase in its profit before tax in first half 2024 compared to the same period in 2023, and a 19 per cent growth in the total assets of the company within the six months.

Sterling is renowned for its HEART of Sterling strategy, which focuses major investments into the Healthcare, Education, Agriculture, Renewable Energy, and Transportation sectors of the Nigerian economy, as well as its bold brand voice and enviable talent management practices.