News
Sterling HoldCo Nearly Doubles Profit as Earnings Surge and Costs Fall
…as strong income growth, leaner operations, early recapitalisation lift confidence in long-term outlook
By Gloria Ikibah
Sterling Financial Holdings Company Plc has delivered a standout financial performance, recording a 99 per cent jump in profit before tax as rising earnings and tighter cost controls combined to strengthen the Group’s balance sheet.
In its interim, unaudited full-year results for the year ended 31 December 2025, the Group reported profit momentum driven by a sharp expansion in both interest and non-interest income, with gross earnings climbing 46 per cent to N476.5 billion.
“The Group recorded a 99 per cent year-on-year increase in profit before tax, reflecting strong revenue growth across our core income lines and the benefits of disciplined cost management,” Sterling HoldCo said.
Interest income rose by 43 per cent to N369.6 billion, supported by growth in loans and advances to customers as well as improved yields on investment securities. Non-interest income increased even faster, jumping 57.3 per cent on the back of higher trading income, fees and commissions.
“Growth in both interest and non-interest income underscores the resilience of our diversified business model and our ability to perform in a competitive operating environment,” the Group noted.
Operational efficiency also improved markedly during the period. Sterling HoldCo reduced its cost-to-income ratio to 63 per cent, down from 72 per cent in 2024, reflecting a deliberate focus on managing operating expenses while scaling revenues.
The Group attributed much of the performance to sustained investment in digital and operational capabilities across its banking and non-banking subsidiaries.
“This improvement in efficiency highlights our commitment to running a leaner, more effective organisation without compromising service delivery,.
“Our continued investment in digital and operational capabilities has enhanced service delivery, improved cost efficiency and strengthened our ability to support growing customer volumes while maintaining sound risk controls,” Sterling HoldCo further stated.
The balance sheet also expanded over the year, with total assets increasing by 11 per cent to N3.92 trillion. Customer deposits rose by 18 per cent to N2.98 trillion, while shareholders’ funds climbed 39 per cent to ₦424.0 billion, reinforcing the Group’s capital base.
On capital adequacy, the Group said it had moved decisively to get ahead of regulatory requirements.
“Building on the growth in shareholders’ funds, we have strengthened our capital structure by ensuring our banking subsidiaries met the Central Bank of Nigeria’s new recapitalisation requirements well ahead of the March 2026 deadline,” it said.
This was achieved through a series of capital-raising initiatives, including a public offer of more than N88 billion to strengthen Sterling Bank, alongside an earlier capital injection that secured The Alternative Bank’s status as a national non-interest bank.
“With a diversified revenue base, increased capital strength and a clear focus on enhancing digital and operational capabilities, the Group is well positioned for sustainable growth in the years ahead,” Sterling HoldCo added.
The Nigerian Air Force (NAF) says it will sustain salary payments for up to 12 months to families of personnel who die in the line of duty.
The Chief of the Air Staff, Air Marshal Sunday Aneke, approved the welfare initiative as part of measures to strengthen support for families of fallen personnel.
A credible NAF source who pleaded anonymity disclosed this to the News Agency of Nigeria (NAN), on Sunday in Abuja.
He said the policy, which provided a special extension of salary payments to the spouses or next of kin of NAF personnel killed in action, would help cushion the impact of their loss.
He explained that, in line with existing public service rules, salary payments normally cease upon the death of a personnel member.
According to him, the new initiative will see salaries of personnel killed in the line of duty continue for up to 12 months from the date of death, or until all death benefits are fully processed and paid, whichever comes first.
The official said the initiative was designed to prevent financial hardship for bereaved families during the period of administrative processing of death benefits.
He added that the CAS had also approved additional welfare packages for officers, airmen and airwomen of the service.
“These measures are aimed at cushioning the prevailing economic pressures and reinforcing the NAF’s commitment to the wellbeing of its personnel.
“These initiatives are also part of a broader welfare reform agenda anchored on the understanding that the wellbeing of personnel and their families is a strategic enabler of combat effectiveness.
“Enhanced welfare drives effective warfare, ensuring that no airman is left unequipped, untrained or unmotivated,” he said.
The source further said that the initiatives reaffirmed the NAF’s resolve to honour the sacrifices of fallen heroes, support the families they left behind and sustain a motivated and mission-ready force.
PRESIDENT Bola Tinubu has directed the Renewed Hope Ambassadors to distribute rice across all states of the federation in support of citizens observing the ongoing Ramadan and Lenten seasons.
The initiative is intended to strengthen national unity and demonstrate compassion during a period that holds deep spiritual significance for both Muslims and Christians.
A statement issued by the Director-General, Renewed Hope Ambassadors and governor of Imo State, Senator Hope Uzodimma explained that “under the directive, the Renewed Hope Ambassadors will coordinate the distribution through their nationwide grassroots network to ensure that families across Nigeria benefit from the intervention during this holy season when both Muslims and Christians are fasting.”
According to the statement: “It is worth noting that a similar intervention was carried out during the last Christmas season, when rice was also distributed to support Nigerians celebrating the festive period.
“This continued effort reflects the administration’s consistent commitment to standing with citizens during important religious and cultural seasons.
“Both Christian and Muslim communities will receive rice as part of the nationwide distribution effort, reflecting the President’s commitment to inclusivity, solidarity, and shared national values.”
Commenting on the initiative, Governor Uzodimma said the programme underscored the President’s belief in supporting citizens during this period of fasting while strengthening interfaith harmony.
He said: “This initiative reflects President Tinubu’s commitment to unity and compassion. Ramadan and Lent are seasons that remind us of sacrifice, charity, and care for one another. Through this distribution, the Renewed Hope Ambassadors will ensure that families across Nigeria feel the spirit of togetherness during this sacred period.”
The statement concluded by saying that the distribution will be carried out across nationwide through the state, local government, and ward structures of the Renewed Hope Ambassadors to ensure broad reach and transparency.
The Police Command in Osun says it has arrested two officers of the Nigeria Customs Service(NCS) in connection with a shooting incident that left a driver dead in Osogbo.
This was contained in a statement issued by the command’s spokesperson, DSP Abiodun Ojelabi, on Sunday.
Ojelabi explained that the two officers of the NCS were arrested in connection with a shooting incident that occurred at Dada Estate Area, Osogbo, on Sunday.
“The suspects were reportedly chasing suspected tokunbo (foreign-used) vehicles when the incident occurred.
“Meanwhile, the driver of the said ash-coloured Toyota Corolla, one of the vehicles being chased by the Customs officers, was shot and confirmed dead by a medical doctor at the Osun State University Teaching Hospital,” he said.
The command’s spokesperson said that the corpse of the yet-to-be-identified victim had been deposited in a morgue.
Ojelabi said several items were recovered from the scene, including a Beretta pistol with breech number 125024, 11 rounds of 9mm live ammunition and one expanded 9mm shell.
Other items recovered were a white Toyota Corolla with Lagos registration number AAA 400 GQ, and an ash Toyota Corolla with registration number GFQ 0982.
He said that the Commissioner of Police, Ibrahim Gotan, had ordered a thorough investigation to ascertain the circumstances surrounding the incident.
He assured members of the public that anyone found culpable would face the full wrath of the law.
He urged residents to remain calm and continue to cooperate with security agencies by providing credible information that can aid the investigation.
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