Sterling Financial Holdings Company (Sterling Holdco) has successfully raised N75 billion to support the recapitalisation of its banking subsidiaries, including Sterling Bank and The Alternative Bank.
The funds were secured through a private placement by local investors, aligning with the Central Bank of Nigeria’s (CBN) ongoing recapitalisation initiative for banks.
The Group CEO of Sterling Holdco, Yemi Odubiyi, highlighted the market’s confidence in the company’s innovative approach and ability to drive growth.
He emphasized that the new capital signifies strong investor trust in the company’s vision and capacity to deliver long-term value across sectors, beyond traditional banking.
Sterling Holdco recently transformed into a financial holding company and recorded significant profit and asset growth in 2024.
The group plans to use the additional capital to explore new business opportunities, prioritizing value creation across Nigeria’s key sectors, including healthcare, education, and renewable energy.
(The Nation)