Sterling Financial Holdings Company Plc has announced a 102 per cent increase in profit after tax for the 2024 financial year, with earnings rising to ₦43.68bn from ₦21.58bn in 2023.
The company disclosed this in its audited full-year financial results for the year ended December 31, 2024, released on Sunday.
The results showed significant improvements in earnings, asset quality, and operational efficiency.
Gross earnings rose to ₦337.19bn, up from ₦221.77bn recorded in 2023, largely driven by growth in interest income, non-interest revenue, and disciplined cost control. Earnings per share more than doubled to 151 Kobo.
Customer deposits across subsidiaries also grew by 36.7 per cent to ₦2.52tn, reflecting improved investor confidence and supporting the group’s lending expansion.
Despite the growth, impairment charges on loans fell by 12.6 per cent to ₦10.78bn.
Commenting on the performance, Group Chief Executive, Mr. Yemi Odubiyi, said the results underscored the company’s strategic focus on sectors that contribute to Nigeria’s long-term development.
