…Discloses Plans to Launch Public Offer
The Group’s unaudited financial results reveal a PAT of ₦41.78 billion, up from ₦16.26 billion in H1 2024. Earnings per share rose to 89 Kobo, compared to 56 Kobo in the previous year, reflecting the Group’s consistent delivery of value to shareholders.
Gross earnings increased by 39.7% to ₦212.61 billion, up from ₦152.20 billion in the same period last year. Interest income grew by 38.3% to ₦167.16 billion, while non-interest income rose by 45% to ₦45.45 billion, underscoring the success of the Group’s strategic diversification agenda.
The Group’s cost-to-income ratio improved significantly to 64.5%, down from 75.7%, highlighting the effectiveness of ongoing cost optimization initiatives.
As of June 30, 2025, total assets stood at ₦4.08 trillion, reflecting a 15.3% increase from ₦3.54 trillion as of December 2024. Shareholders’ funds rose by 22.9%, driven by healthy retained earnings and the impact of recent recapitalisation efforts. Asset quality also improved, with the non-performing loan (NPL) ratio reducing to 5.1% from 5.4% at the end of 2024.
This strong financial performance follows a successful private placement and rights issue, through which the Group raised approximately ₦100 billion. The funds enabled the full recapitalisation of Alternative Bank and further strengthened the capital base of Sterling Bank, the Group’s flagship subsidiary.
Looking ahead, the Group is preparing to launch the public phase of its capital raising programme, with the goal of closing the ₦53 billion recapitalisation gap at Sterling Bank. This forms part of the Group’s broader US$400 million capital raising initiative, approved by shareholders at its Annual General Meeting on June 30, 2025.
Commenting on the results and future direction, Yemi Odubiyi, Group Chief Executive Officer of Sterling HoldCo, said: “Our outstanding half-year results are the product of clear strategic focus and a relentless drive to create lasting value for our stakeholders. This performance reflects not just robust growth in our core income lines, but also the strength of our resilient and agile business model—one that delivers superior returns even amid dynamic macroeconomic conditions.
As we diversify our income streams and invest in operational efficiency, we remain committed to responsible growth, prudent risk management, and sustainable impact.
Looking ahead, we see immense opportunity to deepen our footprint in Nigeria’s growth sectors and catalyse meaningful progress for our customers, communities, and the broader economy.”
Sterling HoldCo continues to invest in renewable energy, healthcare, education, and community development, positioning itself as a key driver of sustainable development in Nigeria.
As the Group advances into the second half of 2025, it remains focused on innovation, inclusive growth, and long-term value creation for all stakeholders.