Sterling Financial Holding Company Limited reported a 31.5 percent surge in gross earnings, reaching N279.6 billion for the six-month period ending June 30, 2026, compared to the same timeframe in 2025. The parent firm of Sterling Bank announced these unaudited results, highlighting significant gains across multiple performance metrics.
Driving this revenue growth, interest income rose by 33.7 percent to N223.6 billion, fueled by an enlarged loan portfolio and enhanced asset yields. Net interest income saw a 41.0 percent increase to N137.4 billion, while non-interest income grew 23.3 percent to N56.0 billion, bolstered by higher fee and operating income. The company’s total assets climbed 19.3 percent to N4.67 trillion, supported by a 21.1 percent rise in customer deposits, which reached N3.62 trillion.
Profitability remained strong, with profit before tax increasing 21.9 percent to N55.5 billion and profit after tax growing 20.4 percent to N50.3 billion. Key efficiency ratios also improved, with return on average equity at 20.6 percent and return on average assets rising to 2.35 percent. Shareholders’ funds expanded by 27.8 percent to N547.7 billion, largely due to a N96.6 billion public offer of 13.8 billion ordinary shares. Consequently, the firm’s share price has gained over 15 percent since the start of the year.
