Sterling Financial Holdings Plc has recorded a profit of N41.8bn for the six months ended June 30, 2025, up from N16.3bn in the corresponding period of 2024, according to its unaudited interim financial statements released recently.

The group’s profit before tax stood at N45.5bn for the period, a significant increase from N17.3bn in the first half of 2024.

Interest income rose to N167.2bn from N120.9bn, while interest expense increased marginally to N69.7bn from N63.3bn, resulting in a net interest income of N97.4bn, up from N57.6bn in the previous year.

Net fees and commission income grew to N22.1bn compared to N15.2bn, supported by a rise in net trading income, which increased slightly to N13bn from N12.4bn.

Other operating income also improved, rising to N10.4bn from N3.7bn recorded in the same period last year. Total operating income for the half-year stood at N142.9bn, compared to N88.9bn in the prior year period.

The group’s total expenses increased to N92.1bn from N67.1bn, with personnel expenses rising to N23.6bn from N13.7bn. Sterling Financial Holdings posted an earnings per share of 89 kobo for the period, up from 56 kobo in the first half of 2024.

Total assets of the group grew to N4.08tn as of June 30, 2025, from N3.54tn recorded at the end of 2024. Deposits from customers increased to N2.78tn, up from N2.52tn in December 2024, while loans and advances to customers rose to N1.18tn from N1.10tn.