Sterling Monetary Holdings Firm Plc (“SFHC” or “the Group”) introduced its audited full-year outcomes for the monetary 12 months ended December 31, 2024, delivering a stable efficiency marked by sturdy earnings progress, sturdy stability 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) enhance 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 revenue, enhanced non-interest income, and prudent price management.
Throughout its subsidiaries, customer 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 expenses 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 Government of Sterling Monetary Holdings Firm Plc, affirmed that the Group’s efficiency displays the profitable execution of its long-term technique, notably in sectors essential 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 vitality, we’re not solely reaching sturdy monetary outcomes but additionally delivering lasting influence. The numerous progress in our belongings, mortgage ebook, and earnings is a testomony to the belief we’ve earned from our prospects and companions. As a Group, we’re proud to see our subsidiaries acquire 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 acknowledged.
SFHC’s dedication to rising diversified revenue streams additionally paid off. Web curiosity revenue climbed by 62% to N134.81 billion, whereas charge and fee revenue 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 revenue, and digital banking charges.
This progress supplied a gentle cushion in opposition to rate of interest volatility and additional diversified the Group’s earnings streams. The outcome was a stronger total return on fairness and a notable enchancment within the Group’s cost-to-income ratio, reinforcing the operational effectivity features achieved over the 12 months.
Past monetary efficiency, the Group demonstrated a deepened dedication to influence via its investments in renewable vitality, healthcare, and neighborhood growth. In 2024, SFHC partnered with the Lagos State Authorities to launch the Ilera Eko healthcare cubicles, delivering reasonably priced, community-based medical companies.
The venture built-in primary care with monetary inclusion, providing underserved populations an opportunity to entry each well being companies and entry-level banking. Equally, the Group ramped up its financing of solar energy programs and mini-grid options, serving to households and small companies transition to sustainable vitality whereas lowering reliance on fossil fuels.
All year long, SFHC additionally engaged in quite a few training and entrepreneurship programmes via the Sterling One Foundation, its social influence automobile. These initiatives supplied monetary literacy, enterprise assist, and capability growth for 1000’s 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.
According to its dedication to delivering shareholder worth, SFHC has proposed a dividend of 18 Kobo per share for the 2024 monetary 12 months. The proposed dividend, topic to shareholder approval on the upcoming Annual Common Assembly, emphasizes the Group’s disciplined capital administration method and its intention to stability progress investments with direct returns to shareholders.
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