Sterling Financial Outshines Banking Sector, Emerges Among NGX’s Top Gainers Despite Market Slump
…Shares Rise 6.67% as Banking Index Falls 2.04%
Lagos, Nigeria – Sterling Financial Holdings Company Plc delivered a standout performance on Thursday, defying a broad sell-off in the banking sector as its share price climbed 6.67 percent to close at ₦8.00, earning a place among the top five gainers on the Nigerian Exchange (NGX).
The impressive rally came in sharp contrast to the overall market trend, with the NGX Banking Index declining by 2.04 percent, while the broader All-Share Index slipped 0.7 percent, marking its second consecutive day of losses. Investors’ profit-taking following July’s bullish run wiped an estimated ₦1.65 trillion from the market’s total capitalization over the two-day period.
Despite the bearish sentiment, Sterling Financial emerged as one of the few bright spots on the Exchange, finishing third on the gainers’ chart. The company’s shares recorded a trading volume of 36.01 million units, valued at approximately ₦286.8 million, underscoring sustained investor confidence in the Group’s growth trajectory.
The strong market performance follows the company’s recently announced half-year 2026 financial results, which showed a 20.4 percent increase in Profit After Tax (PAT) to ₦50.30 billion. The Group also reported continued growth in customer deposits and a balance sheet approaching the ₦5 trillion mark.
Sterling Financial further strengthened its capital position through a successful ₦96.6 billion public offer, completed during the first half of the year. The capital raise boosted shareholders’ funds by 27.8 percent to ₦547.7 billion, providing greater capacity to support lending and business expansion.
The Group’s operational performance remained equally impressive. Net interest income surged 41 percent to ₦137.4 billion, while Return on Average Equity (ROAE) stood at 20.6 percent. Return on Average Assets (ROAA) also improved to 2.35 percent, up from 2.05 percent recorded in the corresponding period of the previous year, reflecting stronger earnings efficiency and prudent balance sheet management.
Sterling Financial’s resilient earnings, strengthened capital base, and diversified business model continue to position it as one of Nigeria’s leading financial services groups. The holding company oversees Sterling Bank, The Alternative Bank, and SterlingFI Wealth Management, providing strategic leadership and governance across its subsidiaries while driving innovation, financial inclusion, and sustainable value creation for customers, shareholders, and the wider economy.