Sterling Financial Holdings has announced a significant insider purchase by its non-executive director, Abubakar Suleiman, who has expanded his stake in the group with the acquisition of 19,684,442 shares valued at ₦160.6 million.
Details from a filing on the Nigerian Exchange (NGX) indicate that the transaction, executed on August 6, 2025, was priced at ₦8.16 per share and tagged with the security identification code NGSTERLNHCO9.
Before this move, Suleiman held 580.3 million shares—equivalent to 1.11% of the company’s issued share capital—according to Sterling’s recently released half-year report. The fresh purchase brings his total holdings to 600 million units, or 1.15%, placing him as the second-largest director shareholder after Mr. Yemi Odubiyi, who owns 707.9 million shares (1.36%).
His latest investment comes on the heels of two other insider transactions recorded since the company’s H1 2025 results were released on July 30. Chief Operating Officer, Temitayo Adegoke, bought 5.7 million shares worth ₦39.4 million, while Seven Degrees North Limited picked up 20.8 million shares valued at ₦141.5 million. Market watchers suggest these purchases reflect confidence in Sterling’s robust financial performance and outlook.
Half-Year 2025 Financial Highlights
Sterling Financial Holdings delivered a strong set of results for the first half of 2025. Profit before tax climbed to ₦45.5 billion—more than double the ₦17.3 billion reported in the same period of 2024.
The bank’s interest income rose 38.29% to ₦167.1 billion from ₦120.8 billion a year earlier, largely driven by ₦115.4 billion earned from loans and advances to customers. Interest expenses saw only a modest uptick of 10.2% to ₦69.7 billion, boosting net interest income to ₦97.4 billion from ₦57.5 billion last year.
Other income lines also improved, with net fees and commissions up 45% to ₦22 billion, trading income up 5% to ₦13 billion, and other operating income soaring 178.62% to ₦10.3 billion. This pushed operating profit to ₦142.8 billion, up from ₦88.9 billion in H1 2024, despite higher operating costs.
Sterling’s balance sheet grew stronger, with total assets reaching ₦4.08 trillion from ₦3.5 trillion and retained earnings rising 51.54% to ₦95.5 billion.
Stock Market Performance
Sterling’s share price has been on an upward trajectory in 2025. Starting the year at ₦5.60, the stock traded sideways in the first half, hovering around ₦5.70 until late June. Momentum picked up in July, with prices breaking the ₦7 barrier.
In early August, the stock hit ₦7.80, representing a year-to-date gain of 39.29%, supported by bullish investor sentiment and strong corporate fundamentals.