By Gloria Ikibah
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 as the Group’s total assets climbed close to the N5 trillion mark.
The unaudited results for the six months ended June 30, 2026, released on Thursday, showed broad-based growth across major financial indicators, driven by higher interest income, an expanding loan portfolio and sustained growth in customer deposits. 
The Group recorded gross earnings of N279.6 billion, representing a 31.5 per cent increase over the corresponding period in 2025. Interest income rose by 33.7 per cent to N223.6 billion, while net interest income increased by 41 per cent to N137.4 billion.
Non-interest income also grew by 23.3 per cent to ₦56 billion, supported by stronger fee income and improved earnings from other operating activities.
Sterling Financial’s balance sheet also recorded significant growth during the period, with total assets rising by 19.3 per cent to N4.67 trillion, while customer deposits expanded by 21.1 per cent to N3.62 trillion, reflecting continued confidence in the Group’s banking operations.
Profit before tax increased by 21.9 per cent to N55.5 billion, while profit after tax rose by 20.4 per cent to N50.3 billion.
The Group also improved its profitability ratios, with return on average equity standing at 20.6 per cent, while return on average assets improved from 2.05 per cent to 2.35 per cent.
Shareholders’ funds grew by 27.8 per cent to N547.7 billion, largely driven by the successful N96.6 billion public offer through which the company raised capital from the issuance of 13.8 billion ordinary shares.
The company also disclosed that its share price had appreciated by more than 15 per cent since the beginning of the year, reflecting stronger investor confidence ahead of the release of its half-year results. Basic earnings per share stood at 77 kobo, reflecting the enlarged share capital following the public offer.
Sterling Financial attributed the performance to ongoing investments in technology and operational efficiency across its subsidiaries, including Sterling Bank, AltBank and SterlingFI.
According to the Group, the modernisation of its technology infrastructure and operating model has improved service delivery, enhanced operational efficiency and strengthened its capacity to support increasing customer activity while maintaining prudent risk management.
The company expressed confidence that its strengthened capital base, expanding deposit base and diversified earnings would position it for stronger growth in the second half of the year.
It noted that the additional capital would continue to support lending to productive sectors of the economy while enabling the Group to sustain long-term value creation for shareholders.
