Sterling’s Customer Deposits Hit N3.62trn, Generates N279bn in Six Months

By Aduragbemi Omiyale

In the first six months of this year, Sterling Financial Holdings Company Plc, the parent company of Sterling Bank Limited, grew its gross earnings by 31.5 per cent to N279.6 billion.

This was buoyed by a 33.7 per cent jump in interest income to N223.6 billion as the loan book expanded and asset yields improved, with non-interest income rising by 23.3 per cent to N56.0 billion, supported by notable increases in fee income and other operating income lines. As of June 30, 2026, the organisation’s net interest income climbed by 41.0 per cent to N137.4 billion.

The unaudited results for the half-year ended June 30 showed that the firm recorded a 21.9 per cent surge in profit before tax (PBT) to N55.5 billion, and a 20.4 per cent leap in profit after tax (PAT) to N50.3 billion.

The broad-based growth across key performance indices extended to the balance sheet, with total assets expanding by 19.3 per cent to N4.67 trillion, supported by a 21.1 per cent growth in customer deposits to N3.62 trillion and disciplined expansion in the loan portfolio.

Shareholders’ funds increased in the period under review by 27.8 per cent to N547.7 billion, primarily reflecting the N96.6 billion raised through a public offer of 13.8 billion ordinary shares.

Also, return on average equity stood at 20.6 per cent and return on average assets improved to 2.35 per cent from 2.05 per cent.

The performance by Sterling Holdings was anchored by the ongoing modernisation of its technology stack and operating model across its commercial (Sterling Bank), non-interest (AltBank), and wealth management (SterlingFI) arms.

That work is showing up in faster service turnaround, tighter unit economics, and greater headroom to absorb rising customer activity without loosening its risk posture.

The combination of a reinforced capital base, expanding deposit franchise, and broader earnings mix leaves Sterling Holdings positioned to compound growth in the second half of the year, channelling capital where it earns most and continuing to lend into the real economy.