… Group posts ₦50.3 billion PAT as gross earnings jump 31.5% to ₦279.6 billion, driven by loan book expansion and improved asset yields
Rashidat O. Okunlade Writes, Lagos
Sterling Financial Holdings Company Plc has released its unaudited results for the half-year ended 30 June 2026, posting broad-based growth across key performance indices as the Group’s balance sheet approaches the ₦5 trillion mark.
The financial services holding company reported a 20.4 per cent increase in profit after tax (PAT) to ₦50.3 billion, while profit before tax (PBT) rose 21.9 per cent to ₦55.5 billion, underscoring the Group’s robust operational performance in the first half of the year.
Gross Earnings Surge 31.5% to ₦279.6 Billion
The Group’s gross earnings rose 31.5 per cent to ₦279.6 billion over the corresponding period in 2025, led 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 climbed 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.
Balance Sheet Strengthens to ₦4.67 Trillion
Sterling Financial continued to strengthen its balance sheet with total assets expanding by 19.3 per cent to ₦4.67 trillion, supported by a 21.1 per cent growth in customer deposits to ₦3.62 trillion and disciplined expansion in the loan portfolio.
Key Performance Indicator H1 2026 Growth
Gross Earnings ₦279.6 billion +31.5%
Interest Income ₦223.6 billion +33.7%
Net Interest Income ₦137.4 billion +41.0%
Non-Interest Income ₦56.0 billion +23.3%
Profit Before Tax ₦55.5 billion +21.9%
Profit After Tax ₦50.3 billion +20.4%
Total Assets ₦4.67 trillion +19.3%
Customer Deposits ₦3.62 trillion +21.1%
Shareholders’ Funds ₦547.7 billion +27.8%
Strong Returns and Investor Confidence
Return on average equity stood at 20.6 per cent, while return on average assets improved to 2.35 per cent from 2.05 per cent in the prior period, reflecting enhanced operational efficiency.
Shareholders’ funds increased 27.8 per cent to ₦547.7 billion, primarily reflecting the ₦96.6 billion raised through a public offer of 13.8 billion ordinary shares. The Group’s share price has also appreciated over 15 per cent from its year-opening position, reflecting renewed investor interest in the franchise ahead of the results release.
Basic earnings per share stood at 77 kobo, reflecting the enlarged share base following the public offer.
Technology Modernisation Driving Performance
The Group’s performance is anchored by its ongoing modernisation of its technology stack and operating model across its commercial (Sterling Bank), non-interest (AltBank), and wealth management (SterlingFI) arms.
That work is showing up in faster service turnaround, tighter unit economics, and greater headroom to absorb rising customer activity without loosening the Group’s risk posture.
Positioned for Second Half Growth
The combination of a reinforced capital base, expanding deposit franchise, and broader earnings mix leaves Sterling Financial positioned to compound growth in the second half of the year, channelling capital where it earns most and continuing to lend into the real economy.
About Sterling Financial Holdings Company
Sterling Financial Holdings Company PLC (Sterling Financial) is a leading Nigerian financial services group committed to enriching lives through innovation and impact with a diversified portfolio that includes Sterling Bank Limited, The Alternative Bank Limited, SterlingFI Wealth Management, among others.
As a HoldCo, 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, Sterling Financial is committed to financial innovation, advancing inclusion, and shaping sustainable growth in Nigeria’s economy. The group champions customer-focused solutions and socially responsible initiatives while creating value for shareholders, employees, and the communities it serves, and continues to pioneer offerings across its core businesses in banking, payments, and technology-driven financial services.
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