Sterling Financial Holdings Company Plc has reported a strong financial performance for the first half of 2026, posting double-digit growth across key financial indicators as the group’s total assets approached the ₦5 trillion mark.
According to its unaudited financial results for the six months ended June 30, 2026, the financial services group recorded significant improvements in earnings, profitability, deposits, assets, and shareholders’ funds, reflecting the success of its growth strategy and continued investment in technology-driven banking services.
Sterling Financial announced that its gross earnings increased by 31.5 percent to ₦279.6 billion, compared to the corresponding period in 2025.
The strong performance was driven primarily by a 33.7 percent increase in interest income, which climbed to ₦223.6 billion as a result of sustained loan book expansion and improved returns on earning assets.
The Group also recorded a 41 percent growth in net interest income, which rose to ₦137.4 billion, reflecting improved lending margins and efficient management of funding costs.
Meanwhile, non-interest income grew by 23.3 percent to ₦56 billion, supported by higher fee-based earnings, increased transaction volumes and stronger contributions from other operating income streams.
Sterling Financial maintained its impressive earnings momentum, with profit before tax (PBT) rising by 21.9 percent to ₦55.5 billion.
Similarly, profit after tax (PAT) increased by 20.4 percent to ₦50.3 billion, highlighting the group’s ability to sustain profitability despite operating in a challenging economic environment.
The results also reflected improved operational efficiency, with return on average equity (ROAE) standing at 20.6 percent, while return on average assets (ROAA) improved to 2.35 percent, up from 2.05 percent recorded in the corresponding period of the previous year.
The financial institution continued to strengthen its balance sheet during the review period.
Total assets expanded by 19.3 percent to ₦4.67 trillion, moving closer to the ₦5 trillion milestone.
Customer deposits also witnessed robust growth, increasing by 21.1 percent to ₦3.62 trillion, reflecting growing customer confidence and a stronger deposit mobilisation strategy.
The Group equally maintained disciplined growth in its loan portfolio, reinforcing its commitment to supporting businesses and households while maintaining prudent risk management standards.
Sterling Financials shareholders’ funds rose significantly by 27.8 percent to ₦547.7 billion during the first half of the year.
The increase was largely driven by the successful ₦96.6 billion public offer, through which the company issued 13.8 billion ordinary shares to investors.
Following the capital raise, the Group’s share price has appreciated by more than 15 percent since the beginning of the year, indicating renewed investor confidence in the company’s long-term prospects.
Basic earnings per share stood at 77 kobo, reflecting the enlarged number of outstanding shares following the public offer.
Sterling Financial attributed much of its performance to its ongoing digital transformation strategy and the modernisation of its technology infrastructure across its various business segments.
The Group said investments in its commercial banking subsidiary, Sterling Bank, its non-interest banking arm, AltBank, and its wealth management business, SterlingFI, are improving operational efficiency and customer experience.
According to the company, the technology upgrades have enabled faster service delivery, enhanced operational productivity and improved the institution’s capacity to accommodate rising customer demand without compromising its risk management framework.
Looking ahead, Sterling Financial expressed confidence that its stronger capital position, expanding deposit base and diversified revenue streams will support sustained growth during the second half of 2026.
The Group plans to continue deploying capital into high-performing sectors of the economy while expanding lending to productive businesses and strengthening financial inclusion.
Industry analysts believe the latest results reinforce Sterling Financial’s position as one of Nigeria’s fastest-growing financial institutions, with improving profitability, stronger capital buffers and an expanding balance sheet expected to support future growth.
With total assets nearing ₦5 trillion, rising earnings and continued investor confidence, Sterling Financial appears well positioned to deliver another strong financial performance before the end of the 2026 financial year.
