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Sterling Financial Holdings Company Plc has announced a remarkable 102% increase in profit after tax for the 2024 financial year, reaching ₦43.68 billion from ₦21.58 billion in 2023.
The company’s audited full-year financial results reveal significant improvements in earnings, asset quality, and operational efficiency.
Gross earnings rose to ₦337.19 billion, driven by growth in interest income and non-interest revenue. Earnings per share more than doubled to 151 kobo. Customer deposits grew by 36.7% to ₦2.52 trillion, while impairment charges on loans fell by 12.6% to ₦10.78 billion.
“Sterling’s 2024 performance reflects our commitment to purposeful growth,” said Mr. Yemi Odubiyi, Group Chief Executive.
“By channeling capital into sectors that drive real economic value, we’re achieving strong financial outcomes and delivering lasting impact.”
The company also made significant strides in corporate social investments, launching Ilera Eko healthcare booths with the Lagos State Government, expanding financing for solar power systems, and supporting educational initiatives through the Sterling One Foundation.
Sterling has proposed a dividend of 18 kobo per share for the 2024 financial year, subject to approval at its next Annual General Meeting.
