My people, make I drop this hot gist for you! Sterling Financial Holdings Company don announce say their profit don waka go down for Q4 of 2025. That one means say dem record N16.34 billion, and e be like say the money don decrease by 23.8% from the N21.44 billion wey dem make for the same time last year. Wetin fit cause dis yawa? Na higher credit loss expenses and operating costs wey don kpokpo dem!
According to dem unaudited financial statements, interest income for dis quarter don blow up reach N107.14 billion, as against N69.66 billion wey dem get last year. E be like say dem dey make more money from interest and trading, but no be everything dey sweet this time. Interest expenses still manage increase maintain level, come reach N41.29 billion. This one don make their net interest income increase to N65.85 billion, wey be 57.4% increase from the previous year, but dem no fit enjoy am because credit loss expense don shine like a big light when dem report say e don jump from N3.62 billion to N18.67 billion!
Na wah oh! Na 415% increase we dey talk about here, and dis one na wetin really affect the profit wey dem dey enjoy. Last-last, operating expenses come join dem matter, as dem cost for personnel and administration been rise too from N36.56 billion wey dem spend for last year to N55.15 billion for dis year. E be like say no be small wahala wey dey for the financial side sha!
But no matter wetin happen, Sterling Financial no just pack up; dem still manage to declare say dem get profit with earnings per share wey go up from 151 kobo to 157 kobo. Dat one mean say dem still get some strong income from other trading and operational streams, wey make dem still dey important for market.
As di matter be, we go dey watch how dem go fit navigate this wahala wey dey ground and see wetin dem go do to balance their books. No be all the time wahala dey carry dem down, sometimes dem go find solution wey go fix am. My people, wetin you think? E fit be say this na just temporary setback or dem go need serious restructuring? Na dat one we go dey find out as di year dey waka!
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