Sterling Financial’s Profit Before Tax Up 37.1% to N97.28bn

Sterling Financial Holdings Company Plc has announced its unaudited results for the nine months ended 30 September 2026, reporting strong earnings growth, balance sheet expansion and a stronger equity base. Profit before tax (PBT) grew by 37.1 per cent year-on-year to N97.28 billion, while profit after tax (PAT) increased by 21.0 per cent to N75.37 billion. Gross earnings rose by 33.2 per cent to N454.94 billion, and non-interest income increased by 27.6% to N101.16 billion, supported by fee-based activities, commodities trading and joint enterprise investments across the Group’s businesses. The Group’s diversification strategy is also gaining traction, with SterlingFi Wealth Management, now in its second year of operations, beginning to contribute to Group earnings and broadening its income streams beyond traditional banking. Total assets rose by 30.4 per cent from year-end 2025 to N5.10 trillion, while net loans and advances to customers increased by 28.8 per cent to N1.82 trillion. Customer deposits rose by 28.7 per cent to N3.84 trillion, and shareholders’ funds increased by 38.8 per cent to N595.2 billion. The Group recorded a post-tax return on average equity (ROAE) of 20.0 per cent and a return on average assets (ROAA) of 2.22 per cent. Commenting on the results, Group Chief Executive Officer, Yemi Odubiyi, 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 N5 trillion in total assets is an important milestone, while SterlingFi’s emerging contribution reflects the potential of our expanding financial services portfolio. “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.”