Sterling HoldCo Reports 157% Profit Surge in H1 2025, Unveils ₦53bn Capital Raise Plan

Sterling Financial Holdings Company Plc (Sterling HoldCo) has reported a massive 157% increase in profit after tax for the first half of 2025, showcasing a strong financial performance and laying the groundwork for a fresh round of capital raising.

According to the group’s unaudited financial statements released on Wednesday, profit after tax soared to ₦41.78 billion, up from ₦16.26 billion in the same period of 2024. This surge in profitability also reflected in its earnings per share, which jumped to 89 Kobo, up from 56 Kobo.

The group’s gross earnings rose by 39.7% to reach ₦212.61 billion, fueled by a 38.3% increase in interest income and a 45% rise in non-interest income. Additionally, the firm improved its cost-to-income ratio to 64.5%, down from 75.7% in the corresponding period—signaling enhanced operational efficiency.

Sterling HoldCo’s total assets grew from ₦3.54 trillion in December 2024 to ₦4.08 trillion as of June 2025, while shareholders' funds rose by 22.9%, supported by capital raised through a successful private placement and rights issue, which generated ₦100 billion. These funds were primarily deployed to recapitalise The Alternative Bank and strengthen the capital base of Sterling Bank.

Now, the group is preparing to launch the public phase of its capital raising campaign, aiming to raise ₦53 billion. This is part of a broader $400 million capital programme approved by shareholders during the company’s Annual General Meeting in June. The funds will help Sterling meet recapitalisation requirements and accelerate strategic expansion.

Group CEO, Mr. Yemi Odubiyi, attributed the exceptional performance to “a clear strategic focus and a resilient, agile 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 stated.

Looking ahead, the company intends to deepen its investments in renewable energy, healthcare, and community development, aligning with its long-term vision for inclusive and sustainable growth.

With its robust financials and forward-looking capital strategy, Sterling HoldCo appears well-positioned to expand its footprint across Nigeria’s key growth sectors—while continuing to deliver value to its customers, shareholders, and the broader economy.

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