Sterling Financial Holdings is under scrutiny after announcing a delay in publishing its audited financial statements for 2024 and unaudited results for Q1 2025. The company disclosed the news in a regulatory filing on 7 May 2025, which was signed by Company Secretary Mr Olayinka Oni.
The delay, according to Sterling, stems from the ongoing completion of its year-end audit process, which is being handled alongside its external auditors. The firm assured shareholders that both sets of results will be available by 28 June 2025, following regulatory approvals.
In the filing, the company maintained that the current closed period, initiated on 1 January 2025, remains in force until the reports are officially released. During this period, Sterling’s directors, senior executives, and other insiders are barred from trading in the company’s shares, in compliance with market rules.
Impressive Performance in Previous Update
Earlier in January, Sterling published its unaudited interim financial results for the 2024 fiscal year, revealing a robust performance. Profit before tax surged by 97.21% to reach ₦44.7 billion, reflecting strong revenue growth and operational efficiency.
The company attributed this leap to a 67.09% rise in net interest income, driven by higher returns on loans and advances. Operating profit also saw a healthy increase, climbing 42.54% year-on-year to ₦199.8 billion. While net fees and commissions went up by 21.15%, the figures still reflected positive operational health.
Earnings per share rose by 72% to ₦1.29, reinforcing value creation for investors. Sterling’s total assets also ballooned to ₦3.52 trillion, a 39.05% jump compared to the previous year.
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