Sterling Financial Holdings Company Limited has posted a 129 percent surge in after-tax profit for the first quarter of 2025, signalling a robust start to the year amid a stabilising macroeconomic environment.
According to its unaudited financial statements, the group recorded a profit after tax of N17.2 billion, up from N7.5 billion in Q1 2024. This performance outpaced its projection of N11.64 billion as contained in its Q1 earnings outlook.
The impressive growth was driven by a 41.5 percent jump in interest income, which climbed to N78.3 billion from N55.3 billion in the same period last year. Despite the Central Bank of Nigeria maintaining a tight monetary policy stance, interest expenses rose modestly to N30.9 billion, up from N28.1 billion.
