Sterling Financial sees 37.1% profit growth in nine months to ₦97.28bn

Sterling Financial Holdings Company Plc has released its unaudited results for the nine months ending 30 September 2026. The report shows good earnings growth, expansion of assets, and a stronger equity base.

Profit before tax grew by 37.1% compared to last year, reaching ₦97.28 billion. Profit after tax also rose by 21.0% to ₦75.37 billion. Gross earnings increased by 33.2% to ₦454.94 billion. Non-interest income went up by 27.6% to ₦101.16 billion, thanks to activities like fees, commodities trading, and joint investments across the Group’s services.

The Group's plan to diversify is working well. SterlingFi Wealth Management, now in its second year, has started adding to Group earnings. This is helping to widen income sources beyond just traditional banking.

Total assets increased by 30.4% from the end of 2025 to reach ₦5.10 trillion. Net loans and advances to customers climbed by 28.8% to ₦1.82 trillion. Customer deposits rose by 28.7% to ₦3.84 trillion. Shareholders’ funds also increased by 38.8% to ₦595.2 billion. The Group recorded a post-tax return on average equity (ROAE) of 20.0% and a return on average assets (ROAA) of 2.22%.

Yemi Odubiyi, the Group Chief Executive Officer of Sterling Financial Holdings Company Plc, shared his thoughts on the results. He said, “Our nine-month performance demonstrates the collective strength of our businesses and the progress we are making towards building a diversified financial services group. Surpassing ₦5 trillion in total assets is an important milestone, while SterlingFi’s emerging contribution reflects the potential of our expanding financial services portfolio.

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

Sterling Financial is dedicated to strengthening its earnings, optimizing capital use, and ensuring effective oversight across the Group. This approach aims to support lasting performance and long-term value for shareholders.