Sterling Financial Holdings Company Plc has grown its balance sheet to N4.07 trillion as the financial services group rode on the back of strong earnings performance in 2025 and first quarter 2026 to expand its assets base to a new record.
Key extracts of the interim report and accounts of Sterling Financial Holdings Company (Sterling Financial) for the period ended March 31, 2026 showed strong earnings growth, balance sheet expansion, and improved capital strength across the group.
Gross earnings rose by 41.6 per cent to N134.8 billion in first quarter 2026, driven by 36.8 per cent increase in net interest income to N64.9 billion. Operating income stood at N93.4 billion. Profit before tax grew by 52.8 per cent to N27.9 billion. After taxes, net profit rose to N23.4 billion.
The company’s balance sheet crossed the N4 trillion threshold for the first time at N4.07 trillion in first quarter 2026, as against N3.91 trillion recorded in December 2025. Shareholders’ funds also increased to N542.5 billion, highlighting the successful completion of the group’s recapitalisation programme.
The audited report and accounts of Sterling Financial for the year ended December 31, 2025 had shown that gross earnings rose by 44.4 per cent N486.8 billion, representing the strongest performance in the group’s modern history. Profit before tax rose by 89.2 per cent to N86.8 billion while profit after tax increased by 74.8 per cent to N76.3 billion.
The group’s balance sheet closed at N3.91 trillion in December 2025. Customer deposits had grown to N2.98 trillion. Loans and advances closed at N1.41 trillion while shareholders’ funds expanded by 40.5 per cent to N428.7 billion.
Group Managing Director, Sterling Financial Holdings Company Plc, Mr. Yemi Odubiyi said the company’s full-year and first quarter results reflected continued growth across the group’s core businesses, supported by disciplined execution, improved operating efficiency, and a strengthened capital position.
He said: “The successful completion of our recapitalisation programme positions the group for the next phase of growth across our commercial banking, non-interest banking, and wealth-management businesses. We remain focused on sustaining growth, strengthening our balance sheet and delivering long-term value across our diversified platform”.
He noted that the period represented an important phase in Sterling Financial’s evolution, as the continued growth of Sterling Bank and The Alternative Bank, alongside the expansion of SterlingFI Wealth Management, positioned the group to compete across multiple segments under a unified group structure and shared strategic agenda.
He assured that the group entered the rest of 2026 with stronger capital, expanded operating capacity and continued momentum across its banking and wealth-management businesses.
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