Sterling Financial Surpasses ₦4tn Assets, Profit Up 53%

Sterling Financial Holdings Company PLC announced that its total assets exceeded ₦4 trillion for the first time in the company's history, reaching ₦4.07 trillion in Q1 2026. The group reported a 41.6% increase in gross earnings year-on-year, totaling ₦134.8 billion, supported by a 36.8% rise in net interest income of ₦64.9 billion.

Profit before tax rose by 52.8% to ₦27.9 billion, while profit after tax increased by 23.4% to ₦23.4 billion. The group's balance sheet showed significant expansion, with customer deposits rising to ₦2.98 trillion and loan advances reaching ₦1.41 trillion.

Shareholder funds grew by 40.5% to ₦542.5 billion following a successful recapitalization program. Adebimp Olambiwonnu, the Group Chief Financial Officer, stated that these results reflect continued growth across the group's core business segments, while Yemi Odubiyi noted the importance of maintaining operational efficiency and capital strength to support future growth.