THUR JULY 30 2026-theGBJournal| Sterling Financial Holdings Plc Thursday reported a 20.4% increase in first-half profit, underpinned by robust loan growth, higher interest income and a stronger capital base, reinforcing its capacity to expand lending and support future earnings.
Profit after tax rose to ₦50.3 billion in the six months ended June 30 from a year earlier, while profit before tax advanced 21.9% to ₦55.5 billion.
Gross earnings climbed 31.5% to ₦279.6 billion, driven by a 33.7% increase in interest income as loan growth and improved asset yields boosted core banking revenue.
The lender’s strengthened capital position offers a positive signal for shareholders, with shareholders’ funds rising 27.8% to ₦547.7 billion after a ₦96.6 billion public share offer.
The enlarged equity base, combined with a 21.1% increase in customer deposits to ₦3.62 trillion, provides additional capacity to grow its loan book while maintaining regulatory capital buffers.
Total assets expanded 19.3% to ₦4.67 trillion, bringing the balance sheet closer to the ₦5 trillion mark.
Net interest income increased 41% to ₦137.4 billion, while non-interest income rose 23.3% to ₦56.0 billion on stronger fee-based and other operating income.
Return on average equity stood at 20.6%, while return on average assets improved to 2.35% from 2.05%, reflecting improved profitability despite the larger capital base.
Basic earnings per share came in at 77 kobo, reflecting the increase in outstanding shares following the public offer.
The results suggest Sterling Financial is entering the second half of 2026 with stronger capital, improved earnings quality and greater balance-sheet capacity, positioning the group to sustain loan growth and enhance long-term shareholder value.
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