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    Tuesday, September 15

    Sterling Plc Shrinks amidst Missed Regulatory Filing

    Julius AlagbeBy Updated: Analysis No Comments2 Mins Read
    Sterling Plc Shrinks amidst Missed Regulatory Filing

    Sterling Plc Shrinks amidst Missed Regulatory Filing

    The market value of Sterling Financial Holdings Plc shrank by more than 5% in the equities market as investors, shareholders anticipate the release of its audited financial statement for year 2024.

    The share price closed lower at N5.65 in the equities segment of the Nigerian Exchange on Friday as investor sentiment waned. The financial services holding company that harbors Sterling Bank is trading at about a 12% discount to its 52-week high.

    Data obtained from the Nigerian Exchange put N256.832 billion as the market value of Sterling Financial Holdings Plc’s 45.457 billion shares outstanding. Breaching regulatory requirement, Sterling Plc has not released its audited report for financial year 2024. The banking group has not also released its first quarter of 2025 earnings scorecard.

    In Dec, 2024, the holding company announced board meeting was scheduled for 26 February for directors to consider audited report for 2024. Since then, the result has not been made public, and NGX has marked the company not to be in compliance with its regulatory demand.

    Sterling Financial Holdings projected N11.64 billion as profit after tax for the first quarter of 2025, details from its earnings forecast obtained by MarketForces Africa revealed. #Sterling Plc Shrinks amidst Missed Regulatory Filing Zenith Bank Rises as Investment Firms Upgrade Target Price

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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