Sterling Financial Holdings Company Plc has recorded a strong financial performance for the first half of 2026, reporting a profit after tax of N50.3 billion for the six months ended June 30. The result reflects steady growth in revenue, customer deposits, lending activities, and shareholders’ funds despite the challenging economic environment.
According to the company’s unaudited financial statements, gross earnings rose by 31.5 percent to N279.6 billion, compared to the same period in 2025. The increase was largely driven by higher interest income, which climbed 33.7 percent to N223.6 billion as the group expanded its loan portfolio and earned more from its interest-generating assets.
Sterling Financial also recorded a significant improvement in its core banking operations. Net interest income grew by 41 percent to N137.4 billion, showing that the company generated more income from lending after accounting for interest expenses. In addition, non-interest income increased by 23.3 percent to N56 billion, supported by stronger earnings from transaction fees, commissions, and other banking services.
The financial services group continued to strengthen its balance sheet during the period. Total assets expanded by 19.3 percent to N4.67 trillion, while customer deposits increased by 21.1 percent to N3.62 trillion. The growth in deposits highlights increasing customer confidence in the group’s banking operations and provides more funds to support lending to businesses and individuals.
Profit before tax also rose by 21.9 percent to N55.5 billion, while profit after tax increased by 20.4 percent to reach N50.3 billion. The company also reported improvements in key profitability indicators. Return on average equity stood at 20.6 percent, while return on average assets improved to 2.35 percent, up from 2.05 percent recorded in the corresponding period of 2025.
Shareholders’ funds grew by 27.8 percent to N547.7 billion, mainly due to the successful public offer that raised N96.6 billion through the sale of 13.8 billion ordinary shares. The stronger capital base is expected to support future business expansion and improve the group’s ability to finance larger projects.
Investor confidence also remained positive, with Sterling Financial’s share price gaining more than 15 percent since the beginning of the year. Although the larger number of shares affected earnings per share, the company still recorded a basic earnings per share of 77 kobo.
Sterling Financial said its improved performance was driven by continued investments in technology and operational efficiency across its businesses, including Sterling Bank, The Alternative Bank (AltBank), and SterlingFI Wealth Management. The company explained that these upgrades have improved customer service, increased operational efficiency, and enabled the group to handle higher transaction volumes while maintaining strong risk management standards.
Looking ahead, the group expressed confidence that its stronger capital position, expanding customer base, and diversified sources of income will support continued growth in the second half of 2026. It added that it remains committed to increasing lending to productive sectors of the economy while creating long-term value for shareholders.
The latest financial results reinforce Sterling Financial Holdings’ position as one of Nigeria’s steadily growing financial institutions, demonstrating resilience through stronger earnings, improved operational performance, and sustained investment in digital banking and customer-focused services.
