Sterling Financial’s Profit Before Tax Up 37.1% to N97.28bn

Sterling Financial Holdings Company Plc has reported a significant rise in profits and asset growth for the nine months ending 30 September 2026. The company's profits before tax (PBT) surged by 37.1% year-on-year to N97.28 billion, while profit after tax (PAT) increased by 21.0% to N75.37 billion. Gross earnings expanded by 33.2% to N454.94 billion, and non-interest income climbed by 27.6% to N101.16 billion, driven by fee-based activities, commodities trading, and joint enterprise investments.

The diversification strategy of the Group is proving fruitful as SterlingFi Wealth Management, now in its second year, begins to contribute to Group earnings. Total assets grew by 30.4% to N5.10 trillion, with net loans and advances rising by 28.8% to N1.82 trillion. Customer deposits increased by 28.7% to N3.84 trillion, and shareholders' funds grew by 38.8% to N595.2 billion.

The Group achieved a post-tax return on average equity (ROAE) of 20.0% and a return on average assets (ROAA) of 2.22%. Group CEO Yemi Odubiyi highlighted the achievement of a N5 trillion total assets milestone and SterlingFi's growing role in the Group's financial services portfolio. The company's focus remains on converting this growth into sustainable shareholder value through careful capital allocation, robust governance, and strategic oversight.