Sterling Monetary Holdings Firm Plc (“SFHC” or “the Group”) introduced its audited full-year outcomes for the monetary yr ended December 31, 2024, delivering a stable efficiency marked by sturdy earnings progress, strong steadiness sheet growth, and a return to dividend payout.
The Group reported a revenue after tax (PAT) of N43.68 billion, representing a 102% year-on-year (YoY) improve from the N21.58 billion recorded in 2023.
Earnings per share greater than doubled to 151 Kobo, reflecting the Group’s strategic resilience and constant supply on shareholder worth.
Gross earnings rose to N337.19 billion, up from N221.77 billion in 2023, pushed by greater curiosity earnings, enhanced non-interest income, and prudent value management.
Throughout its subsidiaries, buyer deposits grew by 36.7% to N2.52 trillion, offering the Group with ample liquidity to assist the size of its lending actions. Regardless of this growth, the standard of belongings improved, as impairment prices on loans fell by 12.6% to N10.78 billion.
Sterling was additionally ranked among the many most actively traded shares on the Nigerian Trade (NGX) between March and June 2025, reflecting sustained investor confidence within the Group’s long-term technique and efficiency outlook.
Commenting on the outcomes, Yemi Odubiyi, Group Chief Govt of Sterling Monetary Holdings Firm Plc, affirmed that the Group’s efficiency displays the profitable execution of its long-term technique, significantly in sectors vital to Nigeria’s financial resilience, and underscores its dedication to delivering worth for shareholders whereas deepening assist for sustainable growth.
“Our 2024 efficiency displays the depth of our dedication to purposeful progress. By intentionally channeling capital into sectors that drive actual financial worth, like agriculture, commerce, healthcare, and renewable power, we’re not solely reaching sturdy monetary outcomes but in addition delivering lasting impression. The numerous progress in our belongings, mortgage e-book, and earnings is a testomony to the belief we’ve earned from our clients and companions. As a Group, we’re proud to see our subsidiaries achieve momentum and our sustainability initiatives come to life, at the same time as we proceed evolving right into a extra agile and inclusive monetary ecosystem.
“We stay targeted on delivering innovation-led banking, strengthening our core, and deepening our contribution to the communities and markets we serve,” he said.
SFHC’s dedication to rising diversified earnings streams additionally paid off. Web curiosity earnings climbed by 62% to N134.81 billion, whereas price and fee earnings rose to N44.30 billion. Web charges and commissions elevated by 30% to N33.93 billion in 2024, supported by greater transaction volumes, trade-related earnings, and digital banking charges.
This progress supplied a gradual cushion towards rate of interest volatility and additional diversified the Group’s earnings streams. The end result was a stronger total return on fairness and a notable enchancment within the Group’s cost-to-income ratio, reinforcing the operational effectivity beneficial properties achieved over the yr.
Past monetary efficiency, the Group demonstrated a deepened dedication to impression by means of its investments in renewable power, healthcare, and group growth. In 2024, SFHC partnered with the Lagos State Authorities to launch the Ilera Eko healthcare cubicles, delivering inexpensive, community-based medical providers.
The venture built-in primary care with monetary inclusion, providing underserved populations an opportunity to entry each well being providers and entry-level banking. Equally, the Group ramped up its financing of solar energy methods and mini-grid options, serving to households and small companies transition to sustainable power whereas decreasing reliance on fossil fuels.
All year long, SFHC additionally engaged in quite a few training and entrepreneurship programmes by means of the Sterling One Foundation, its social impression car. These initiatives supplied monetary literacy, enterprise assist, and capability growth for hundreds of younger Nigerians, with a particular give attention to empowering ladies and youth in underserved communities.
These efforts earned the Group recognition from establishments such because the IFC and Nigerian Trade for excellence in company governance and social accountability.
In step with its dedication to delivering shareholder worth, SFHC has proposed a dividend of 18 Kobo per share for the 2024 monetary yr. The proposed dividend, topic to shareholder approval on the upcoming Annual Normal Assembly, emphasizes the Group’s disciplined capital administration strategy and its intention to steadiness progress investments with direct returns to shareholders.
