Copyright businessday
Profit at Sterling Financial Holdings Company Plc more than doubled in the nine months ended September 30, 2025, helped by the lender’s gross earnings that rose by 44.1 percent, according to its unaudited financial statement filed on the Nigerian Exchange. Net income grew by 127 percent year-on-year to N62.3 billion, highlighting the Lagos-headquartered bank’s earnings capacity, operational efficiency, and disciplined execution amid a slowing profitability run among big lenders in the country. The group’s gross earnings increased to N341.7 billion between January and September 2025 from N237.2 billion last year, driven by solid performances in both interest and non-interest income lines. Interest income grew by 38.7 percent to N262.4 billion, supported by an expanded earning asset base, while non-interest income surged by 65.1 percent to N79.2 billion, reflecting the group’s continued success in diversifying its revenue streams. Read also: Sterling HoldCo recapitalisation: A blueprint for value creation Sterling HoldCo maintained a healthy balance sheet, with total assets rising by 15.5 percent 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 percent to N2.88 trillion, while shareholders’ funds increased by 32.9 percent 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. “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,” said Yemi Odubiyi, Sterling HoldCo Group Chief Executive. “Our results highlight 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,” Odubiyi added. “As we continue to invest in technology and operational excellence, our goal remains clear: to build a resilient institution that consistently delivers sustainable returns.” With deepening synergies across its subsidiaries, Sterling HoldCo remains firmly on course to sustain its growth momentum through the final quarter of the year. 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. Shares of Sterling HoldCo have gained more than 40 percent since the start of this year, closing trading on Monday, November 3rd at N7.85 per share on the Nigerian Stock Exchange (NGX), a 1.3 percent rise over its previous closing price of N7.75.
