…Balance sheet nears N5 trillion

By Babajide Komolafe

Sterling Financial Holding Company Limited has recorded a 31.5 per cent growth in gross earnings to N279. 6 billion in the half-year ended 30 June 2026 over the corresponding period in 2025.

The parent company of Sterling Bank disclosed this in its unaudited results for the half-year ended 30 June 2026 released yesterday which showed broad-based growth across key performance indices.

The growth in revenue was led by a 33.7% jump in interest income to N223.6 billion as the loan book expanded and asset yields improved. Net interest income climbed 41.0% to N137.4 billion, while non-interest income grew by 23.3% to N56.0 billion, supported by notable increases in fee income and other operating income lines.

Sterling Financial continued to strengthen its balance sheet with total assets expanding by 19.3% to N4.67 trillion, supported by a 21.1% growth in customer deposits to N3.62 trillion and disciplined expansion in the loan portfolio.

The Group’s profit before tax (PBT) rose 21.9% to N55.5 billion while profit after tax (PAT) rose 20.4% to N50.3 billion.

Return on average equity stood at 20.6% and return on average assets improved to 2.35% from 2.05%.

Sterling Financial’s shareholders’ funds increased 27.8% to N547.7 billion in the period under review, primarily reflecting the N96.6 billion raised through a public offer of 13.8 billion ordinary shares. The Group’s share price has also appreciated over 15% from its year-opening position, reflecting renewed investor interest in the franchise ahead of the results release.