Sterling Financial Holdings Plc has released its Audited Financial Results for the year ended December 31, 2024, representing a remarkable performance driven by substantial growth in interest income.
The financial institution reported a Profit After Tax (PAT) of N43.86 billion, accompanied by a share price of N5.29k as of today.
It reported a significant 65.80% increase in interest income, climbing to N258.82 billion from N156.10 billion in the previous year.
Profit Before Tax (PBT): Stood strong at N45.86 billion. Profit After Tax (PAT): A robust N43.68 billion, more than doubling the previous year’s figure. [3]
The company’s share price is currently valued at N5.29k, reflecting investor confidence.
The Gross Earnings experienced substantial growth, with a 52.04% increase to N337.19 billion from N221.77 billion in FY 2023.
The Group’s total assets closed 2024 with total assets of N3.5 trillion, nearly a 40% increase from N2.53 trillion in 2023. [3]
Customer Deposits rose to N2.52 trillion, a 37% increase from N1.84 trillion in the prior year, as Loans to Customers increased by 23% to N1.1 trillion.
These results highlight Sterling Financial Holdings’ strong position in the market and its commitment to delivering value to shareholders and customers alike.
The future looks bright as the company continues to expand and innovate in the financial sector!
