Sterling financial holdings sets N121.8bn bold targets for Q1 2025

Sterling Financial Holdings Company Plc is positioning itself for a robust financial performance in the first quarter of 2025, projecting gross earnings of N121.81 billion by March 31.

This projection, disclosed in a filing with the Nigerian Exchange Limited, highlights a strategic focus on revenue generation and cost efficiency. The company anticipates N89.27 billion in interest income, offset by interest expenses of N34.82 billion, resulting in net revenue from funds of N54.45 billion.

Despite an expected N16.84 bllion in credit impairment charges, Sterling has forecasted other income of N28.37 billion, which, combined with net revenue from funds, is projected to bring net operating income to N65.98 billion. However, with operating expenses estimated at N53.29 billion, the company expects a profit before tax of N12.69 billion. After taxes of N1.05 billion, net profit is forecasted at N11.64 billion for the quarter.

Sterling’s cash flow outlook reveals a dynamic mix of operations and investments. The company projects N50.93 billion in cash from investing activities and N64.36 billion from financing activities, alongside N5.58 billion net cash from operations. By the end of the quarter, Sterling anticipates an increase in net cash and cash equivalents of N7.84 billion, with its cash/bank balance growing to N465.95 billion.

This ambitious projection follows a stellar performance earlier in 2024, where the company recorded a 52.3 per cent year-on-year increase in profit after tax for the first half, rising from N10.68 billion in 2023 to N16.26 bllion.

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