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Sterling Holdco
On this page
Company details
- Legal name
- Sterling Financial Holdings Company Plc
- Listing
- STERLINGNG on the Nigerian Exchange, active · ISIN NGSTERLNHCO9 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · annual report, signed / final · source
-
Net interest income
NGN 209 billion
208,656 NGN millions · p37
+54.8% vs 2024
Interest income less interest expense, as printed.
-
Profit / (loss) for the year
NGN 76.3 billion
76,334 NGN millions · p37
+74.8% vs 2024
-
Total assets
NGN 3.91 trillion
3,911,642 NGN millions · p38
+10.4% vs 2024
-
Customer deposits
NGN 2.98 trillion
2,984,814 NGN millions · p38
+18.5% vs 2024
-
Total equity
NGN 429 billion
428,703 NGN millions · p38
+40.5% vs 2024
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN millions unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — annual report, signed / final; reported for the year · source
- FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Interest and similar income using effective interest/return rate | 367,073 | 258,818 |
| Interest and similar expense using effective interest/return rate | (158,417) | (124,012) |
| Net interest income | 208,656 | 134,806 |
| Fees and commision income | 60,290 | 44,300 |
| Fees and commision expense | (16,582) | (10,372) |
| Net fees and commision income | 43,708 | 33,928 |
| Net trading income | 22,182 | 15,653 |
| Other operating income/revenue | 37,254 | 18,421 |
| Credit loss expense | (32,922) | (10,784) |
| Personnel expenses | (53,748) | (31,327) |
| Operating expenses | (115,780) | (87,436) |
| Depreciation and amortisation1 | (8,217) | (5,625) |
| Other property, plant and equipment costs2 | (14,357) | (21,774) |
| Profit before windfall and income taxes | 86,776 | 45,862 |
| Income tax expense | (9,471) | 1,496 |
| Windfall tax3 | (971) | (3,683) |
| Profit for the year | 76,334 | 43,675 |
| Revaluation gains on equity instruments at fair value through other comprehensive income4 | 559 | 6,890 |
| Net change in fair value during the year5 | 19,966 | (2,877) |
| Other comprehensive income for the year, net of tax | 20,525 | 4,013 |
| Total comprehensive income for the year, net of tax | 96,859 | 47,688 |
Notes and alternative reported figures (5)
- “Depreciation and amortisation” is an issuer-specific line, not mapped to a shared definition: Note 13.2.
- “Other property, plant and equipment costs” is an issuer-specific line, not mapped to a shared definition: Note 13.3.
- “Windfall tax” is an issuer-specific line, not mapped to a shared definition: Note 14a(ii): windfall tax on realised foreign exchange gains.
- “Revaluation gains on equity instruments at fair value through other comprehensive income” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified.
- “Net change in fair value during the year” is an issuer-specific line, not mapped to a shared definition: OCI, may be reclassified: receivables and instruments at FVOCI.
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Cash and balances with Central Bank of Nigeria | 761,639 | 867,125 |
| Due from banks | 472,269 | 569,455 |
| Pledged assets1 | 16,085 | 28,675 |
| Loans and advances to customers | 1,413,260 | 1,103,970 |
| - Financial assets at fair value through profit or loss | 74,131 | 27,491 |
| - Debt instruments at fair value through other comprehensive income | 646,472 | 485,529 |
| - Equity instruments at fair value through other comprehensive income2 | 52,692 | 48,635 |
| - Debt instruments at amortised cost | 98,443 | 81,369 |
| Investment in subsidiary3 | –4 | –4 |
| Other assets | 259,934 | 219,964 |
| Property, plant and equipment | 69,359 | 56,974 |
| Right-of-use asset | 10,530 | 12,106 |
| Investment property | 11,658 | 4,036 |
| Intangible assets | 3,205 | 3,263 |
| Deferred tax assets | 21,965 | 33,348 |
| TOTAL ASSETS | 3,911,642 | 3,541,940 |
| Deposits from Banks | –5 | 49,364 |
| Deposits from customers | 2,984,814 | 2,518,512 |
| Derivative financial liabilities | 1,433 | Not reported in this filing6 |
| Current income tax payable | 7,896 | 3,382 |
| Other borrowed funds | 231,439 | 213,834 |
| Debt securities issued7 | –5 | 34,056 |
| Other liabilities | 245,199 | 396,727 |
| Provisions | 2,336 | 576 |
| Deferred tax liabilities | 9,822 | 20,330 |
| TOTAL LIABILITIES | 3,482,939 | 3,236,781 |
| Share capital | 27,345 | 22,729 |
| Share premium | 139,742 | 108,292 |
| Retained earnings | 65,887 | 63,073 |
| Other components of equity | 195,729 | 111,065 |
| Total equity | 428,703 | 305,159 |
| TOTAL LIABILITIES AND EQUITY | 3,911,642 | 3,541,940 |
| Deposits with the Central Bank of Nigeria8 | 718,827 | 777,087 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (6)
- “Pledged assets” is an issuer-specific line, not mapped to a shared definition: Note 18.
- “- Equity instruments at fair value through other comprehensive income” is an issuer-specific line, not mapped to a shared definition: Note 21(c).
- “Investment in subsidiary” is an issuer-specific line, not mapped to a shared definition: Note 22 (eliminated on consolidation: Group printed '-').
- Not reported in this filing: Not printed for 2024: the line 'Derivative financial liabilities' carries a 2025 amount (1,433) only; the 2024 column is left blank (p38, checked on the page image).
- “Debt securities issued” is an issuer-specific line, not mapped to a shared definition: Note 30.
- “Deposits with the Central Bank of Nigeria” is an issuer-specific line, not mapped to a shared definition: Note 16 (PDF p85): restricted deposits within cash and balances with the Central Bank; excluded from cash and cash equivalents (note 38).
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Operating cash flow before interest and tax (unlabelled subtotal)1 | (273,143) | (40,963) |
| Interest received | 365,460 | 282,038 |
| Interest paid on deposits from banks and customers2 | (59,978) | (61,888) |
| Income tax paid | (2,985) | (1,284) |
| Net cash flows from operating activities | 29,354 | 177,903 |
| Purchase of property, plant and equipment | (27,493) | (29,690) |
| Purchase of intangible assets | (893) | (3,042) |
| Purchase of investment property3 | (159) | (258) |
| Proceeds from sale of investment property4 | 1,936 | 8,588 |
| Right-of-use-asset5 | (1,141) | (2,591) |
| Proceeds from sale of property, plant and equipment | 285 | 1,892 |
| Purchase of debt instruments at FVOCI6 | (339,447) | (339,447) |
| Proceeds from sale/redemption of debt instruments at FVOCI7 | 203,077 | 203,077 |
| Purchase of debt instruments at amortised cost8 | (40,437) | (22,039) |
| Redemption of debt instruments at amortised cost9 | 22,834 | 69,943 |
| Purchase of equity instrument at FVOCI10 | (6,564) | –11 |
| Proceeds from sale of equity instrument at FVOCI12 | 2,391 | –11 |
| Investment in subsidary13 | –11 | –11 |
| Dividends received14 | 1,103 | 676 |
| Net cash flows used in investing activities | (184,508) | (112,891) |
| Proceeds from other borrowed funds | 119,914 | 25,800 |
| Repayments of other borrowed funds | (63,121) | (73,317) |
| Repayment of debt securities issued15 | (32,899) | –16 |
| Interest paid on other borrowed funds & debt issued | (22,347) | (39,230) |
| Ordinary shares issued17 | 36,066 | 73,867 |
| Lease liability paid18 | (643) | (36) |
| Dividends paid | (9,381) | –16 |
| Net cash flows used in financing activities | 27,589 | (12,916) |
| Net increase in cash and cash equivalents | (127,565) | 52,096 |
| Effect of exchange rate changes on cash and cash equivalents | (16,847) | 215,522 |
| Cash and cash equivalents at 1 January | 659,493 | 391,875 |
| Cash and cash equivalents at 31 December | 515,081 | 659,493 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (16)
- “Operating cash flow before interest and tax (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal after changes in operating liabilities (p43).
- “Interest paid on deposits from banks and customers” is an issuer-specific line, not mapped to a shared definition: Operating.
- “Purchase of investment property” is an issuer-specific line, not mapped to a shared definition: Investing (note 25).
- “Proceeds from sale of investment property” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Right-of-use-asset” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Purchase of debt instruments at FVOCI” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Proceeds from sale/redemption of debt instruments at FVOCI” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Purchase of debt instruments at amortised cost” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Redemption of debt instruments at amortised cost” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Purchase of equity instrument at FVOCI” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Proceeds from sale of equity instrument at FVOCI” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Investment in subsidary” is an issuer-specific line, not mapped to a shared definition: Investing; Group printed '-'.
- “Dividends received” is an issuer-specific line, not mapped to a shared definition: Investing (note 10).
- “Repayment of debt securities issued” is an issuer-specific line, not mapped to a shared definition: Financing (note 30).
- “Ordinary shares issued” is an issuer-specific line, not mapped to a shared definition: Financing.
- “Lease liability paid”: mapping to a shared definition is uncertain. Lease payments; the principal/interest split is not printed.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividends paid |
(9,381) | NGN millions | Annual report, p43 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividends paid |
0printed “–”, read as nil | NGN millions | Annual report, p43 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Sterling Financial Holdings Company Plc Annual Report, Consolidated and Separate Financial Statements for the year ended 31 December 2025
Year ended 31 December 2025 · Annual report · signed / final
Audit: Deloitte & Touche (Chartered Accountants), unmodified opinion · signed
Auditor's sign-off: Joshua Ojo, for Deloitte & Touche
Final status: Independent auditor's report to the shareholders of Sterling Financial Holdings Company Plc on the consolidated and separate financial statements (PDF pp32-36; opinion p32), unmodified, with a handwritten signature above 'Joshua Ojo, FRC/2013/PRO/ICAN/001/00000000849, For: Deloitte & Touche, Chartered Accountants, Lagos, Nigeria, 12 May 2026' and the ICAN seal (p36, page image). Statements 'approved by the Board of Directors on 12 March, 2026' with handwritten signatures of Yemi Odubiyi (Group Managing Director), Adebimpe Olambiwonnu (CFO) and Adeyemi Adeola (Chairman) (p38, page image).
- Document date
- 12 May 2026
- Auditor's report
- 12 May 2026
- Board approval
- 12 Mar 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- consolidated statements · NGN millions (printed “In millions of Naira”)
- Cash and cash equivalents (note 38, p120) = cash and balances with the Central Bank of Nigeria less deposits with the Central Bank (note 16, p85) plus due from banks (note 17).
- Cash flows (p43): the Group 'Purchase of debt instruments at FVOCI' (339,447) and 'Proceeds from sale/redemption of debt instruments at FVOCI' 203,077 are printed with identical figures for 2025 and 2024; the investing totals add in both years. Kept as printed.
- The board approval date (12 March 2026, p38) precedes the auditor's report date (12 May 2026, p36). Key audit matter (p33): identification and measurement of impairment of financial assets. No emphasis-of-matter or going-concern paragraph. The statements of changes in equity (pp39-40) refer to 'items restated in Note 49', although the notes run to 47; the comparatives are not headed as restated.
- EPS printed in kobo with a 'k' suffix: Group basic and diluted 152k (2024: 151k) (p37); not transcribed.
Technical details
- File
- 201 pages, with a text layer
- SHA-256
c6500c102ac308d547df64825fa2b8467256f79dd25a2a0933f186d7057374d3- Entity as printed
- STERLING FINANCIAL HOLDINGS COMPANY PLC and its subsidiary (the Group and Company)
- Exchange copy
- retrieved 2026-10-08T18:01:31Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (16 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.