Sterling Financial Posts 20% Profit Growth, Assets Approach ₦5 Trillion in Strong H1 2026 Performance
Lagos, Nigeria – Sterling Financial Holdings Company Plc has delivered an impressive financial performance for the first half of 2026, recording a 20.4 percent increase in profit after tax and expanding its balance sheet to nearly ₦5 trillion, underscoring the Group’s sustained growth trajectory and operational resilience.
According to its unaudited financial results for the six months ended June 30, 2026, the Group’s gross earnings surged by 31.5 percent to ₦279.6 billion, driven by a robust 33.7 percent rise in interest income to ₦223.6 billion as its loan portfolio expanded and asset yields improved. Net interest income climbed by 41 percent to ₦137.4 billion, while non-interest income increased by 23.3 percent to ₦56 billion, supported by stronger fee-based earnings and other operating income.
Sterling Financial also strengthened its financial position with total assets growing by 19.3 percent to ₦4.67 trillion. Customer deposits rose by 21.1 percent to ₦3.62 trillion, reflecting growing customer confidence, while disciplined lending contributed to the continued expansion of its loan book. Profit before tax increased by 21.9 percent to ₦55.5 billion, while profit after tax stood at ₦50.3 billion.
The Group maintained healthy profitability ratios, with return on average equity at 20.6 percent and return on average assets improving to 2.35 percent from 2.05 percent recorded in the corresponding period of 2025.
Shareholders’ funds climbed by 27.8 percent to ₦547.7 billion, largely boosted by the successful public offer that raised ₦96.6 billion through the issuance of 13.8 billion ordinary shares. Investor confidence also remained strong, as the Group’s share price appreciated by more than 15 percent since the beginning of the year. Basic earnings per share stood at 77 kobo following the enlarged share capital.
Sterling Financial attributed the impressive performance to the ongoing modernization of its technology infrastructure and operating model across its key subsidiaries, including Sterling Bank, The Alternative Bank (AltBank), and SterlingFI Wealth Management. The transformation has enhanced service delivery, improved operational efficiency, strengthened cost management, and reinforced the Group’s risk management framework.
Backed by a stronger capital base, a growing deposit franchise, and diversified revenue streams, Sterling Financial said it is well positioned to sustain its growth momentum in the second half of 2026 by deploying capital efficiently and expanding support for Nigeria’s real economy.
About Sterling Financial Holdings Company
Sterling Financial Holdings Company Plc is one of Nigeria’s leading financial services groups, providing innovative banking, non-interest banking, wealth management, payments, and technology-driven financial solutions through subsidiaries including Sterling Bank Limited, The Alternative Bank Limited, and SterlingFI Wealth Management.
With more than six decades of trusted service, the Group remains committed to driving financial inclusion, sustainable economic growth, customer-focused