Holding Company Grows Net Profit By 20% To N50.3bn In H1

Sterling Financial Holdings Company Plc has reported profit after tax of N50.3 billion in the first half of the year ended June 30, 2026.

The group released its unaudited results for the half-year, showing gains across revenue, deposits and capital.

The group’s gross earnings rose 31.5 per cent to N279.6 billion over the corresponding period in 2025, led by a 33.7 per cent jump in interest income to N223.6 billion as the loan book expanded and asset yields improved.

Net interest income climbed 41.0 per cent to N137.4 billion, while non-interest income grew by 23.3 per cent to N56.0 billion, supported by notable increases in fee income and other operating income lines.

Sterling Financial continued to strengthen its balance sheet with total assets expanding by 19.3 per cent to N4.67 trillion, supported by a 21.1 per cent growth in customer deposits to N3.62 trillion and disciplined expansion in the loan portfolio.

The group’s profit before tax rose 21.9 per cent to N55.5 billion while profit after tax rose 20.4 per cent to N50.3 billion.

Return on average equity stood at 20.6 per cent and return on average assets improved to 2.35 per cent from 2.05 per cent.

Sterling Financial’s shareholders’ funds increased 27.8 per cent to N547.7 billion in the period under review, primarily reflecting the N96.6 billion raised through a public offer of 13.8 billion ordinary shares.

The gComroup’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.

The group attributed performance to ongoing modernisation of its technology and operating model across Sterling Bank, The Alternative Bank (AltBank), and SterlingFI Wealth Management.

It said the upgrades have delivered faster service turnaround, tighter unit economics, and capacity to handle rising customer activity without loosening risk controls.

“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,” the Group stated.

Sterling Financial Holdings Company Plc is a Nigerian financial services group with interests in commercial banking, non-interest banking and wealth management. Its subsidiaries include Sterling Bank Limited, The Alternative Bank Limited, and SterlingFI Wealth Management. The HoldCo provides strategic direction and governance across the group.