Sterling Financial reports N97.28bn nine-month profit

Sterling Financial Holdings Company Plc has announced its unaudited financial results for the nine months ended 30 September 2026, reporting a 37.1 per cent growth in profit before tax to N97.28bn.

According to the group’s earnings report, profit after tax rose 21.0 per cent to N75.37bn, while gross earnings increased 33.2 per cent to N454.94bn. Non-interest income also climbed 27.6 per cent to N101.16bn, supported by fee-based activities, commodities trading, and joint enterprise investments across its operations.

The group noted that its diversification strategy gained further momentum during the period, with SterlingFi Wealth Management, now in its second year of operations, contributing to earnings and broadening income streams beyond traditional banking.

Sterling Financial’s balance sheet expanded significantly as total assets rose 30.4 per cent from year-end 2025 to surpass the N5tn milestone, reaching N5.10tn. Net loans and advances to customers increased 28.8 per cent to N1.82tn, while customer deposits grew 28.7 per cent to N3.84tn.

Shareholders’ funds expanded 38.8 per cent to N595.2bn, with the group recording a post-tax return on average equity of 20.0 per cent and a return on average assets of 2.22 per cent.

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Commenting on the financial performance, Group Chief Executive Officer of Sterling Financial Holdings Company Plc, Yemi Odubiyi, highlighted the group’s operational progress and expanding portfolio.

“Our nine-month performance demonstrates the collective strength of our businesses and the progress we are making towards building a diversified financial services group,” Odubiyi said. “Surpassing N5tn in total assets is an important milestone, while SterlingFi’s emerging contribution reflects the potential of our expanding financial services portfolio.”

He added that the Holdco remains committed to disciplined resource management and value creation across its subsidiaries, which include Sterling Bank Limited, Alternative Bank Limited, and SterlingFi Wealth Management.

“The Group’s priority is to translate this growth into sustainable shareholder value through disciplined capital allocation, effective governance and strategic oversight,” he stated. “We will continue to support our businesses in pursuing sustainable growth while maintaining financial resilience and prudent risk management.”

The group maintained that it remains focused on strengthening its earnings base, optimising capital deployment, and advancing financial inclusion and technology-driven solutions across Nigeria’s economy.