• Home
  • About Us
  • Contact Us
Wednesday, September 10, 2025
Star Lite News
  • Home
  • News
    • All
    • Business
    Public Holidays

    Nigerian Government Urges Peace and Unity as Muslims Mark Prophet Muhammad’s Birthday

    Natasha Akpoti-Uduaghan

    “My Suspension Was Fraudulent” – Natasha Akpoti-Uduaghan Challenges Akpabio, Denied Access to NASS

    SunTrust Bank

    $12M Money Laundering Trial: SunTrust Bank MD Halima Buba, Executive Face EFCC Witness Testimony in Court

    Buhari

    National Tribute: Public Holiday Declared in Memory of Buhari’s Service to Nigeria

    Okpebholo

    Governor Okpebolo Floors PDP At The Supreme Court

    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Bela.

    Bela.’s Biography, Wikipedia, Age, Career, Family, and Music

    JaceBen

    Jason Benson: Profile of Nigeria’s Emerging Afrobeats Star

    officialJaceBen

    OfficialJaceBen ft Bela. – “PRESSURE” Lyrics

    Chief Kanran

    Legendary Actor Segun Remi, Aka Chief Kanran, Passes On

    Tom Njemanze

    Nollywood Loses Another Legend: Tom Njemanze Passes Away

    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Public Holidays

    Nigerian Government Urges Peace and Unity as Muslims Mark Prophet Muhammad’s Birthday

    Natasha Akpoti-Uduaghan

    “My Suspension Was Fraudulent” – Natasha Akpoti-Uduaghan Challenges Akpabio, Denied Access to NASS

    SunTrust Bank

    $12M Money Laundering Trial: SunTrust Bank MD Halima Buba, Executive Face EFCC Witness Testimony in Court

    Buhari

    National Tribute: Public Holiday Declared in Memory of Buhari’s Service to Nigeria

    Okpebholo

    Governor Okpebolo Floors PDP At The Supreme Court

    NYSC

    NYSC Sanctions Corps Member Raye Over Criticism of President Tinubu, Sparks Outrage

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Bela.

    Bela.’s Biography, Wikipedia, Age, Career, Family, and Music

    JaceBen

    Jason Benson: Profile of Nigeria’s Emerging Afrobeats Star

    officialJaceBen

    OfficialJaceBen ft Bela. – “PRESSURE” Lyrics

    Chief Kanran

    Legendary Actor Segun Remi, Aka Chief Kanran, Passes On

    Tom Njemanze

    Nollywood Loses Another Legend: Tom Njemanze Passes Away

    Mike Ejeagha

    ‘Gwogwogwo’ Music Legend Mike Ejeagha, Dies At 95 After Battling Prostate Cancer For 16 Years

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Press Release

Sterling HoldCo Delivers To Shareholders

...Receives Commendations At Inaugural AGM

starliteadmin by starliteadmin
June 26, 2024
in Press Release
0
Sterling
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Major shareholders of one of Nigeria’s leading financial conglomerates, Sterling Financial Holdings Company PLC., expressed their delight with the leadership and financial performance of the group at its recently held inaugural annual general meeting. The comments came as a result of the group’s continued abilities to post impressive growth numbers in its first full year of operations, despite a challenging macro-economic environment.

The holding company delivered a 36% increase in its assets size, growing to N 2.5 trillion, and a 26.6% rise in its earnings to deliver N 221 billion. Both figures represent a significant increase in the group’s performance as contained in its annual report and financial statements for the 2023 financial year.

Dissecting the numbers further, the group earned N 156 billion and N 65.7 billion in interest and non-interest income respectively, representing a growth of 21.5% and 40.6% from the 2022 financial year’s numbers. It achieved this while attracting N 1.8 trillion in customers’ deposits into its two banking subsidiaries: Sterling Bank and The Alternative Bank.

These have helped the group post N 21.6 billion in profit, and an admirable 75 kobo in earnings per ordinary share for 2023. Numbers which signify continued growth of 11.8% an 11.9% for the respective performance metrics from the publicly traded company’s 2022 postings.

Commenting on the company’s immediate plans, Sterling HoldCo’s Group Chief Executive Officer, Yemi Odubiyi, said in his statement to the company’s shareholders, “In line with evolving regulatory standards and the recent introduction of minimum capital requirements by the Central Bank of Nigeria (CBN), we will be seeking shareholders’ approval to raise up to N200 billion from the market. This capital infusion will strengthen and position us for sustained growth.”

Odubiyi also highlighted the performance of the holding company’s current subsidiaries; Sterling Bank, a conventional bank, and The Alternative Bank, an ethical banking business, and intimated shareholders on the group’s intentions to build non-banking revenue lines to progress the group’s rapid growth and capture even more value for shareholders by offering a wider range of services under the trusted Sterling brand.

The Group CEO stated that the group will continue its current trajectory by maintaining a customer-centric approach, while making strategic investments in sustainable ventures that align with the company’s core values.

The published results maintain the trajectory of growth Sterling has achieved against the backdrop of macroeconomic headwinds, which have severely impacted the profitability of large corporations and small businesses alike in Nigeria.

Industry observers will recall that Sterling HoldCo recently completed a significant milestone by transforming from a bank to a full-fledged financial holdings company by delisting, transferring, and relisting all shares to the Sterling Financial Holdings Company on the floor of the NGX.

The holding company affords Sterling the opportunity to leverage its successful HEART strategy, which has seen the group make consolidated investments in the Health, Education, Agriculture, Renewable Energy, and Transportation sectors, growing the company’s year-on-year profits to record highs in recent years.

With the adoption of the Holdco structure now in full effect, Sterling now possesses the latitude to make inroads into other sectors within financial services, such as pensions, asset management, payment services, real estate, and different verticals, along with the current banking licenses held by the commercial and ethical banking subsidiaries, Sterling Bank and The Alternative Bank, which will operate as limited liability companies within the publicly traded holding company.

Sterling has maintained impressive momentum in recent years, featuring on the prestigious the 100 fastest-growing companies in Africa list for 2023, as published by the globally recognized Financial Times, its citation as Africa’s Most Valuable Commercial Bank Brand for 2023 in a poll conducted by GeoPoll and Kantar for African Brand Magazine, and was been named a top three employer in Nigeria by LinkedIn in the social network’s Top 25 List for 2023.

Renowned for its irreverent brand voice and enviable talent management practices, Sterling recently received three citations for Company Leadership Gender Diversity, Gender Diversity in Supply Chain, and Family-Friendly Workplace as bestowed by the International Finance Corporation (IFC) and the Nigerian Exchange (NGX) at the Gender Leader Awards 2023.

Tags: StarlitenewsSterling Financial Holdings Company PLC.Sterling HoldCo’s Group Chief Executive OfficerYemi Odubiyi
Previous Post

Shoprite Mall Set To Shutdown By June 30

Next Post

Naira Abuse: Details Of Cubana Chief Priest’s Agreement With EFCC Emerge

starliteadmin

starliteadmin

Related Posts

Fidelity Bank

Fidelity Bank Extends Food Bank Initiative to Anambra, Provides Essential Food Items to 2,000 Residents

by starliteadmin
September 9, 2025
0

Leading financial institution, Fidelity Bank Plc, has extended its flagship Corporate Social Responsibility (CSR) program, the Fidelity Food Bank Initiative,...

Akmodel Group

Akmodel Group Celebrates Igwe Izuchukwu Okeke Onyeocha’s Birthday in Awka

by starliteadmin
September 8, 2025
0

Akmodel Group Managing Director, Builder (Dr.) Abdulhakeem Odegade, alongside members of staff, joined the people of Ezinato Enugwu Agidi community...

CRMI

24th CRMI International Conference: Shettima, Ugwuoke, Cardoso, Edun, Push for Home-Grown Risk Solutions.

by starliteadmin
September 8, 2025
0

Vice President Senator Kashim Shettima has called on the African Union (AU), African Development Bank (AfDB), and Afreximbank to support...

Odegade

Builder Abdulhakeem Odegade Felicitates Muslims, Nigerians on Eid-ul-Mawlid

by starliteadmin
September 5, 2025
0

Akmodel Group Managing Director, Builder (Dr.) Abdulhakeem Odegade, has joined millions of Muslims across the globe to celebrate this year’s...

Fidelity Bank

Fidelity Bank Deepens Push for Non-Oil Exports Through FNITCC Platform

by starliteadmin
September 4, 2025
0

Nigeria’s diversification drive has gathered momentum in recent years as government initiatives push to reduce dependence on crude oil and...

Union Bank

Union Bank of Nigeria Completes Merger with Titan Trust Bank

by starliteadmin
September 1, 2025
0

LAGOS, NIGERIA - Union Bank of Nigeria, one of the nation’s longest-standing financial institutions, today announced the successful completion of...

Next Post
Cubana Chief Priest

Naira Abuse: Details Of Cubana Chief Priest’s Agreement With EFCC Emerge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • Tinubu and Timothy

    Prince Chukwudi Timothy Appeals For Dialogue Instead Of Nationwide Protest

    0 shares
    Share 0 Tweet 0
  • Peter Obi says victory of Christ the King College at World Affairs Challenge heartwarming

    0 shares
    Share 0 Tweet 0
  • Family reveals Ifeanyi Ubah’s burial date

    0 shares
    Share 0 Tweet 0
  • ACEACRES24: Akmodel MD Makes Presentations At The 2Days Event (Photos)

    0 shares
    Share 0 Tweet 0
  • Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Fidelity Bank Extends Food Bank Initiative to Anambra, Provides Essential Food Items to 2,000 Residents
  • Akmodel Group Celebrates Igwe Izuchukwu Okeke Onyeocha’s Birthday in Awka
  • CNG Trucks: Netizens Back Dangote, Snub NUPENG’s Threat
  • 24th CRMI International Conference: Shettima, Ugwuoke, Cardoso, Edun, Push for Home-Grown Risk Solutions.
  • Sanwo-Olu to Lead Lagos State Delegation to FNITCC Atlanta
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

  • https://starlitenews.com.ng/2024/04/23/again-dangote-crashes-diesel-and-aviation-fuel-prices-further-to-n940-n980-respectively/
  • https://starlitenews.com.ng/2024/03/24/287-abducted-kaduna-schoolchildren-regain-freedom/
  • https://starlitenews.com.ng/2024/04/29/zenith-bank-poised-for-growth-as-shareholders-approve-holdco-structure/