Thursday, June 26, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
Home BANKING

Sterling HoldCo Moves Ahead in Recapitalisation, Cements Capital Raise With Full Regulatory Approval

These results demonstrate Sterling’s resilience and ability to deliver superior outcomes despite the complexities of Nigeria’s economic landscape, marked by high inflation and currency volatility.

Newsroom Nigeria by Newsroom Nigeria
December 28, 2024
in BANKING, News
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

Sterling Financial Holdings Company PLC has achieved another milestone with the approval of the Central Bank of Nigeria (CBN) recognising an additional ₦75 billion in its capital raise.

This approval represents the final leg of the capital injection that was achieved through a private placement in September 2024.

Related posts

Fidelity MD, Onyeali-Ikpe Urges Women to Embrace Lifelong Learning and Collaboration for Career Success

June 22, 2025

WEST AFRICA MUST TURN DEMOGRAPHIC STRENGTH AND MINERAL WEALTH INTO JOBS AND INDUSTRY, SAYS TINUBU

June 21, 2025

Building on the private placement’s success, Sterling launched a Rights Issue in October 2024, structured to provide existing shareholders the exclusive opportunity to deepen their stakes in the company and share in its growth story.

The Rights Issue received significant interest and participation, highlighting the confidence and trust the company has cultivated among its shareholders over the years. Regulatory approval for the process is currently underway, marking another significant step in the recapitalisation journey.

The public is eagerly awaiting Sterling’s Public Offer, which will present an exciting opportunity for individuals to invest in the company. It is anticipated that the recapitalisation process will be completed with a Public Offer early next year, allowing wider participation from the public and further strengthening its commitment to shared value creation.

Group Chief Executive, Yemi Odubiyi described the capital injection and the approvalas a validation of the company’s strategic direction and operational excellence. “This milestone reflects the confidence of regulators and stakeholders in our vision to redefine financial services in Nigeria and beyond. Our enhanced capital base empowers us to pursue transformative opportunities, deliver sustainable value to all stakeholders and drive impact across critical sectors of the Nigerian economy,” he stated.

Odubiyi emphasised the company’s evolution from its origins as a merchant bank to its
current status as a diversified financial holdings company. Powered by cutting-edge
technology and a flexible operational model, the company has consistently demonstrated its ability to navigate market difficulties and seize growth opportunities.

Reflecting on Sterling’s accomplishments,
Odubiyi acknowledged the instrumental role
of stakeholders, including regulators, investors, and customers. “We are grateful for the unwavering support and trust in our strategy, which has been pivotal to our journey. This recapitalisation strengthens our ability to unlock new opportunities, create value, and drive economic growth,” he added.

The capital boost follows a year marked by robust financial performance and significant
strategic achievements for Sterling. As at the last week in December 2024, Sterling
witnessed a 19% surge in stock price, contributing to a remarkable three-year growth of 287.42%. In the first half of 2024, the company recorded a 51% increase in profit before tax compared to the same period in 2023 and achieved a 20% growth in total assets.

These results demonstrate Sterling’s resilience and ability to deliver superior outcomes despite the complexities of Nigeria’s economic landscape, marked by high inflation and currency volatility.

As Sterling looks ahead, its focus remains firmly on innovation, sustainability, and value
creation. With a fortified capital structure, the company is well-positioned to execute its
ambitious growth plans, deepen its impact across critical sectors, and set new benchmarks for excellence in Nigeria’s financial services industry. This latest milestone marks a transformative chapter for Sterling Financial Holdings Company PLC as it continues to redefine the future of financial services in Nigeria and beyond.

 

ShareTweetSendShareShare
Previous Post

YOU HAVE NOT DISAPPOINTED US, SAYS LAGOS IMAM TO TINUBU AT JUMAT PRAYER

Next Post

Setting the Record Straight: Meritocracy and Milestones at NNPC

Related Posts

BANKING

Fidelity MD, Onyeali-Ikpe Urges Women to Embrace Lifelong Learning and Collaboration for Career Success

June 22, 2025
Foreign

WEST AFRICA MUST TURN DEMOGRAPHIC STRENGTH AND MINERAL WEALTH INTO JOBS AND INDUSTRY, SAYS TINUBU

June 21, 2025
Foreign

NIGERIA, BENIN SIGN INTEGRATION AGREEMENT AS PRESIDENTS TINUBU, TALON LEAD CALL FOR REGIONAL REFORMS

June 21, 2025
Foreign

GLOBAL ECONOMY WILL NOT WAIT FOR WEST AFRICA TO GET ITS ACT TOGETHER – TINUBU TELLS ECOWAS

June 21, 2025
INAUGURAL LECTURE: UNIVERSITY PROFESSOR OFFERS NEW PERSPECTIVES IN MARKETING
Education/Human Capital

INAUGURAL LECTURE: UNIVERSITY PROFESSOR OFFERS NEW PERSPECTIVES IN MARKETING

June 25, 2025
JUDICIARY

Seven Chinese Nationals Jailed for Cyberterrorism, Internet Fraud in Lagos

June 21, 2025
Next Post

Setting the Record Straight: Meritocracy and Milestones at NNPC

RECOMMENDED NEWS

NIGER DELTA GROUP CALLS ON BUHARI TO SAVE NDDC FROM COLLAPSE

3 years ago

False Marriage: EFCC Arrests Suspected Fraudster for Duping American $200,000

2 years ago

Kwara Government Condoles Family of Slain Hafsat Lawal

4 months ago

GBENGA DANIEL TO DELIVER IGLSA MAIDEN INVESTITURE LECTURE AS INSTITUTE HONOURS FORMER EFCC CHAIR, MAGU, OTHERS

2 years ago

FOLLOW US

POPULAR NEWS

  • Troops Foil Deadly Terrorist Attack In Niger State, Lose 17 Soldiers

    Troops Foil Deadly Terrorist Attack In Niger State, Lose 17 Soldiers

    0 shares
    Share 0 Tweet 0
  • ADEBAYO HELD ALOFT THE BANNER OF THE UPN, LED BY OBAFEMI AWOLOWO, TINUBU PENS TRIBUTE TO A TRUE STATESMAN

    0 shares
    Share 0 Tweet 0
  • TINUBU SIGNS  FOUR TAX BILLS INTO LAW TO TRANSFORM FISCAL, REVENUE FRAMEWORK

    0 shares
    Share 0 Tweet 0
  • INEC Receives Applications To Register Obidients People’s Party (OPP), 109 Other Political Parties Registration

    0 shares
    Share 0 Tweet 0
  • Lagos Assembly Lauds Obasa’s Decade of Progressive Leadership, Proposes Legislative Institute t

    0 shares
    Share 0 Tweet 0
Newsroom Nigeria

This independent, liberal online news platform aims to inform citizens about important issues. NEWSROOM NIGERIA covers political, business, economic, national, and international news. They are committed to journalism ethics and hold the government accountable.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.