Sterling Financial’s 9-month Profit Rises 37% To N97.28bn

Sterling Financial Holdings Company Plc has reported a 37.1 per cent year-on-year increase in profit before tax to N97.28 billion for the nine months ended September 30, 2026. Profit after tax rose by 21 per cent to N75.37 billion, according to the group’s unaudited results.

Sterling Financial’s nine-month profit rises 37 per cent to N97.28 billion

The financial services group said gross earnings increased by 33.2 per cent to N454.94 billion during the period, while non-interest income rose 27.6 per cent to N101.16 billion. It attributed the latter to fee-based activities, commodities trading and joint enterprise investments.

Total assets grew by 30.4 per cent from the end of 2025 to N5.10 trillion, crossing the N5 trillion mark. Net loans and advances to customers rose 28.8 per cent to N1.82 trillion, while customer deposits increased 28.7 per cent to N3.84 trillion.

Shareholders’ funds grew by 38.8 per cent to N595.2 billion. The group recorded a post-tax return on average equity of 20 per cent and a return on average assets of 2.22 per cent.

The group chief executive officer, Yemi Odubiyi, said the results reflected the performance of the group’s businesses and its progress towards a diversified financial services model. He described the asset milestone as significant and said SterlingFi Wealth Management had begun contributing to earnings in its second year of operations.

Odubiyi said the group would seek to translate growth into shareholder value through capital allocation, governance and strategic oversight, while maintaining financial resilience and risk management.

Sterling Financial Holdings Company Plc’s portfolio includes Sterling Bank Limited, Alternative Bank Limited and SterlingFi Wealth Management, among other businesses.