Sterling Financial Holdings Company Plc has reported a profit after tax of N50.3 billion for the half-year ended June 30, 2026.
The group said that the figure represented a 20.4 per cent increase compared with the corresponding period of 2025, reflecting sustained growth across key business segments.
In a statement issued on Wednesday in Lagos, the company said that its profit before tax rose by 21.9 per cent to N55.5 billion, while gross earnings increased by 31.5 per cent to N279.6 billion, supported by stronger income generation and improved performance across its operations.
It explained that interest income grew by 33.7 per cent to N223.6 billion, driven by loan book expansion and improved asset yields during the review period, while Net interest income rose by 41.0 per cent to N137.4 billion and non-interest income increased by 23.3 per cent to N56 billion.
The company attributed the non-interest income growth to higher fee-based earnings and increased contributions from other operating income streams.
Sterling Financial also said that its total assets expanded by 19.3 per cent to N4.67 trillion, bringing its balance sheet close to N5 trillion threshold.
It added that customer deposits rose by 21.1 per cent to N3.62 trillion, underscoring continued confidence in the group’s banking and financial services businesses, while Shareholders’ funds increased by 27.8 per cent to N547.7 billion, supported largely by the N96.6 billion raised through a public share offer.
GIK/APA