Sterling Financial Holdings’ 9M 2026 pre-tax profit rises 37% to N97.28 billion

Sterling Financial Holdings Company Plc announced a surge in profits for the nine months ending in September 2026, with pre-tax earnings soaring 37.09% to N97.28 billion. This marked a significant jump from N70.96 billion in the same period last year, driven primarily by robust interest income growth. Interest income jumped by 34.82% to N353.78 billion, accounting for more than three-quarters of the group's gross earnings of N454.94 billion.

Although funding costs rose, they did so at a slower pace than interest income, contributing to the overall profit increase. Despite this financial success, Sterling's profit after tax rose by 20.99% to N75.37 billion, but earnings per share fell by 11.47% to N11.35, reflecting restated figures due to the company's share reconstruction.

The company's total assets expanded to N5.10 trillion, up 30.36% from N3.91 trillion in December 2025, with customer deposits playing a key role in this growth. Total equity also saw substantial growth, rising by 38.83% to N595.16 billion. Despite credit impairment adding to the cost base, operating income increased by 38.13% to N307.06 billion, helping Sterling deliver higher pre-tax earnings.

The improved financial performance was celebrated by a 1.32% rise in the share price, closing at N77.00 following the release of the unaudited nine-month financial results.