Sterling Financial Holdings has officially notified its shareholders and the Nigerian Exchange of a delay in the release of its audited financial statements for the 2024 fiscal year, as well as its unaudited results for the first quarter of 2025. The disclosure, dated 7 May 2025, was signed by the Company Secretary, Mr Olayinka Oni.
The company attributed the delay to the ongoing completion of its year-end audit, which is being finalised in conjunction with its external auditors. Sterling assured stakeholders that both the full-year audited results for 2024 and the Q1 2025 unaudited financials will be made public on or before 28 June 2025, pending the necessary regulatory approvals.
In line with market regulations, Sterling reaffirmed that its previously declared closed period—which commenced on 1 January 2025—remains in effect and will continue until the financial statements are formally released on the floor of the Nigerian Exchange. “The previously announced closed period, which began on January 1, 2025, will remain in effect until the financial statements are released on the floor of the Nigerian Exchange,” the company reiterated.
During this closed period, directors, senior executives, and other insiders are barred from trading in the company’s shares, as required by regulatory standards.
Earlier this year, Sterling released its unaudited interim financial results for the year ending 31 December 2024, which showcased robust growth across critical performance indicators. The group posted a 97.21% rise in profit before tax, reaching ₦44.7 billion, propelled by a 67.09% boost in net interest income, largely due to increased returns from loans and advances to customers.
Operating profit climbed by 42.54% year-on-year to ₦199.8 billion, even as net fees and commissions rose by 21.15%, underscoring the company’s strong operational standing. Earnings per share grew by 72%, rising to ₦1.29, a clear indication of rising profitability and shareholder value. The company’s total assets also saw a significant year-on-year increase of 39.05%, reaching ₦3.52 trillion.
Despite the strong financial performance, Sterling’s share price has remained relatively stable on the Nigerian Exchange so far in 2025. Beginning the year at ₦5.60, the stock ended January marginally lower at ₦5.50, with a total of 381.8 million shares traded for the month. The trend continued through February and March, with the share price declining slightly to ₦5.45 by the end of March. By the close of trading on 30 April, the stock was priced at ₦5.40, before returning to ₦5.50 at the end of trading on 7 May.