Sterling Financial Holdings Reports 37% Profit Growth

Sterling Financial Holdings Company Plc announced a 37.1% year-on-year increase in profit before tax, reaching N97.28 billion for the nine months ended September 30, 2026. Profit after tax also rose by 21% to N75.37 billion, as per the group's unaudited results.

The financial services group reported gross earnings of N454.94 billion, reflecting a 33.2% increase, while non-interest income grew by 27.6% to N101.16 billion, attributed to fee-based activities, commodities trading, and joint enterprise investments. Total assets surged by 30.4% from the end of 2025 to N5.10 trillion, with net loans and advances to customers increasing by 28.8% to N1.82 trillion and customer deposits rising by 28.7% to N3.84 trillion.

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

Yemi Odubiyi, the group chief executive officer, stated that the results reflect the performance of the group’s businesses and progress towards a diversified financial services model.