Sterling Financial Holdings Company Limited
NNSENG:STERLINGNG76.95
NGN
+0.45
(+0.59%)
ISIN
NGSTERLNHCO9
Return %
Stock
S&P 500
1Y
-3.21
14.20
3Y
126.22
81.12
5Y
- -
68.34
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.Company Description
- CEO
- Yemi Odubiyi
- Full Time Employees
- 3,723
- Sector
- Finance
- Industry
- Regional banks
- Address
- Lagos Nigeria
- IPO Date
- Aug 17, 1993
- Website
- sterlingholdco.ng
- Similar Companies
- Business
- Sterling Financial Holdings Company Plc, operating as Sterling HoldCo, is a Nigeria-based financial holding company that provides a comprehensive range of commercial banking, non-interest banking, wealth management, and digital financial solutions to retail, commercial, corporate, and institutional clients. The company operates through three principal subsidiaries: Sterling Bank Limited, The Alternative Bank Limited, and SterlingFI Wealth Management Limited. The company's commercial banking operations, conducted through Sterling Bank Limited, offer a full suite of conventional banking products and services. Its core offerings include consumer and retail banking, comprising demand deposits, savings accounts, target savings, and fixed term deposits; personal loans, salary advance facilities, auto loans, and residential mortgage financing; commercial and SME banking, offering working capital loans, revolving credit lines, trade advance facilities, invoice discounting, and equipment leasing; corporate and institutional banking, delivering syndications, structured finance, project financing, liquidity management, and transaction banking; international trade and treasury services, including letters of credit, bills for collection, export financing, foreign exchange trading, derivatives, and fixed income securities dealing; and specialized sectoral financing under its HEART strategy, focusing on Health, Education, Agriculture, Renewable Energy, and Transportation. The company's non-interest banking division, conducted through The Alternative Bank Limited, delivers ethical and Sharia-compliant financial solutions. Its offerings include non-interest deposit products, comprising Qard current accounts and Mudarabah profit-sharing investment accounts; structured asset and trade finance, utilizing Murabaha cost-plus financing, Ijara lease-to-own arrangements, and Istisna'a contract manufacturing and construction facilities; equity participation and partnership financing through Musharakah contracts; project finance for infrastructure and sustainable development; and non-interest pilgrimage and wealth preservation schemes. The company's wealth management and non-banking financial division, operated through SterlingFI Wealth Management Limited, provides investment management, asset management, mutual funds, liquidity management, portfolio optimization, wealth advisory, estate planning, and trust services to affluent individuals, family offices, and institutional investors. The company distributes its products and services across Nigeria through an extensive branch network, automated teller machines, point-of-sale terminals, agent banking networks, and proprietary digital platforms. Its core digital brands and software solutions include Specta, an automated digital lending platform offering instant personal and business loans such as Specta Basic and Specta Xtreme; OneBank, an omnichannel mobile retail banking application; Omni X, an enterprise digital banking platform for corporate cash and treasury management; PaywithSpecta, a digital credit and payment gateway for retail merchants; and Doublo, an online investment and savings channel. In recent major corporate developments, the company executed a corporate reorganization transitioning from Sterling Bank Plc into a non-operating financial holding company structure (Sterling Financial Holdings Company Plc), enabling the unbundling and independent licensing of its conventional banking, non-interest banking, and asset management subsidiaries. To meet and exceed the revised minimum capital requirements set by the Central Bank of Nigeria, the group completed a comprehensive recapitalization program comprising a 75 billion Nigerian naira private placement, an oversubscribed rights issue, and an 88 billion Nigerian naira public offer, securing full regulatory capital clearance for its core operating banks. Additionally, shareholders approved a capital raise plan to secure up to 400 million US dollars in fresh equity alongside a 10-for-1 share consolidation exercise to accelerate digital infrastructure expansion, technology modernization, and non-interest banking growth. Sterling Financial Holdings Company Plc traces its corporate origins to 1960, when it was established as Nigeria Acceptances Limited (NAL), and is headquartered at Sterling Towers, 20 Marina, Lagos, Nigeria.