Sterling Financial Holdings posted a 20.4% increase in profit after tax to ₦50.3 billion in H1 2026, with total assets rising to ₦4.67 trillion and customer deposits climbing to ₦3.62 trillion.
NewsOnline Nigeria reports that Sterling Financial Holdings Company Plc has reported a strong financial performance for the first half of 2026, posting a 20.4 per cent increase in profit after tax (PAT) as the Group’s balance sheet expanded to nearly ₦5 trillion.
According to its unaudited financial results for the six months ended June 30, 2026, the Group recorded a profit after tax of ₦50.3 billion, up from the corresponding period in 2025. Profit before tax (PBT) also rose by 21.9 per cent to ₦55.5 billion.
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The financial services group attributed the growth to higher interest income, stronger fee-based earnings, and continued expansion of its loan portfolio.
Gross earnings increased by 31.5 per cent to ₦279.6 billion, driven largely by a 33.7 per cent growth in interest income, which climbed to ₦223.6 billion as lending activities expanded and asset yields improved.
Net interest income also recorded significant growth, rising 41 per cent to ₦137.4 billion, while non-interest income grew 23.3 per cent to ₦56 billion, supported by higher fee income and other operating revenues.
Sterling Financial also strengthened its balance sheet during the period, with total assets growing by 19.3 per cent to ₦4.67 trillion, moving closer to the ₦5 trillion mark.
Customer deposits rose 21.1 per cent to ₦3.62 trillion, reflecting continued confidence in the Group’s banking franchise and supporting disciplined expansion of its loan book.
Shareholders’ funds increased 27.8 per cent to ₦547.7 billion, largely driven by the successful ₦96.6 billion public offer through which the Group issued 13.8 billion ordinary shares.
The company also reported improved profitability metrics, with Return on Average Equity (ROAE) standing at 20.6 per cent, while Return on Average Assets (ROAA) improved to 2.35 per cent, up from 2.05 per cent in the corresponding period of 2025.
Basic earnings per share stood at 77 kobo, reflecting the enlarged share capital following the public offer.
Sterling Financial noted that the performance reflects ongoing investments in modernising its technology infrastructure and operating model across its core businesses, including Sterling Bank, AltBank, and SterlingFI.
According to the Group, these investments have improved operational efficiency, enhanced customer service delivery, and strengthened its ability to support growing transaction volumes while maintaining prudent risk management.
Looking ahead, the company expressed confidence in sustaining growth during the second half of the year, citing its stronger capital position, expanding deposit base, and diversified earnings streams.
The Group said it remains committed to deploying capital efficiently, supporting lending to the real economy, and delivering long-term value to shareholders.
