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By Chukwuma Umeorah
Sterling Financial Holdings Company Plc has reported that its total assets rose above the N4 trillion mark for the first time, reaching N4.07 trillion in the first quarter ended March 31, 2026, driven by continued expansion in its balance sheet and improved earnings performance across its banking businesses.
The development followed the release of the Group’s audited financial results for the year ended December 31, 2025, alongside its unaudited first-quarter 2026 results, which showed broad-based growth in earnings, profitability and capital position.
For the 2025 financial year, the Group recorded a 44.4 per cent increase in gross earnings to N486.8 billion. Profit before tax (pbt) 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 also expanded during the period, with total assets closing at N3.91 trillion in 2025. Customer deposits rose to N2.98 trillion, while loans and advances stood at N1.41 trillion. Shareholders’ funds increased by 40.5 per cent to N428.7 billion.
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The growth trend continued into the first quarter of 2026, with gross earnings rising by 41.6 per cent year-on-year to N134.8 billion. Net interest income increased by 36.8 per cent to N64.9 billion, while operating income stood at N93.4 billion for the period.
Profit before tax rose by 52.8 per cent to N27.9 billion, while profit after tax increased to N23.4 billion in the quarter under review. Shareholders’ funds also strengthened to N542.5 billion, following what the Group described as the completion of its recapitalisation programme.
Group Managing Director, Sterling Financial Holdings Company Plc, Yemi Odubiyi, said the results reflected performance across its core operations. “Our FY2025 and Q1 2026 results reflect continued growth across the Group’s core businesses, supported by disciplined execution, improved operating efficiency, and a strengthened capital position,” he said.
He added that the recapitalisation exercise had positioned the Group for further expansion across its commercial banking, non-interest banking, and wealth management operations. The performance covers Sterling Bank, The Alternative Bank, and SterlingFI Wealth Management, which operate under the Group’s structure.
The Group said it would continue to focus on sustaining growth, strengthening its balance sheet, and expanding across its financial services segments in the remaining months of 2026.
