Nigeria’s Sterling Financial Holdings Company plc has reported a 20.4 per cent rise in profit after tax to ₦50.3 billion for the half-year ended 30 June 2026, as gross earnings surged by 31.5 per cent to ₦279.6 billion.
The group’s unaudited results showed broad-based growth across all key performance indicators, driven by a 33.7 per cent jump in interest income to ₦223.6 billion, as the loan book expanded and asset yields improved.
Net interest income rose 41.0 per cent to ₦137.4 billion, while non-interest income grew by 23.3 per cent to ₦56.0 billion, supported by notable increases in fee income and other operating income lines.
Sterling Financial continued to strengthen its balance sheet, with total assets expanding by 19.3 per cent to ₦4.67 trillion, edging closer to the ₦5 trillion mark. Customer deposits grew by 21.1 per cent to ₦3.62 trillion, reflecting disciplined expansion in the loan portfolio.
Profit before tax (PBT) rose 21.9 per cent to ₦55.5 billion, while profit after tax (PAT) increased by 20.4 per cent to ₦50.3 billion. Return on average equity stood at 20.6 per cent, and return on average assets improved to 2.35 per cent from 2.05 per cent.
Shareholders’ funds rose 27.8 per cent to ₦547.7 billion, largely reflecting the ₦96.6 billion raised through a public offer of 13.8 billion ordinary shares.
The group’s share price has appreciated by more than 15 per cent from its position at the start of the year, signalling renewed investor interest ahead of the results release. Basic earnings per share stood at 77 kobo, reflecting the enlarged share base following the public offer.
The group attributed its performance to the ongoing modernisation of its technology stack and operating model across its commercial banking arm (Sterling Bank), non-interest bank (AltBank), and wealth management division (SterlingFI).
The work has resulted in faster service turnaround, tighter unit economics, and greater capacity to absorb rising customer activity without loosening the group’s risk posture.
“The combination of a reinforced capital base, expanding deposit franchise, and broader earnings mix leaves Sterling Financial positioned to compound its growth in the second half of the year, channelling capital where it earns most and continuing to lend into the real economy,” the company said.
Sterling Financial Holdings Company PLC is a leading Nigerian financial services group committed to enriching lives through innovation and impact. Its diversified portfolio includes Sterling Bank Limited, The Alternative Bank Limited, and SterlingFI Wealth Management, among others.
As a holding company, Sterling Financial provides strategic direction, governance, and resources across its subsidiaries, enabling each to focus on its core mandate while benefiting from group-wide expertise, technology, and oversight.
With a heritage of trust built over six decades, the group champions customer-focused solutions and socially responsible initiatives while creating value for shareholders, employees, and the communities it serves.
