Sterling Financial makes ₦97.28 billion profit before tax in nine months
Sterling Financial Holdings made ₦97.28 billion in profit before tax between January and September 2026. That is 37.1% more than it recorded over the same period last year.
Sterling
Sterling Financial Holdings made ₦97.28 billion in profit before tax between January and September 2026. That is 37.1% more than it recorded over the same period last year.
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Sterling Financial Holdings made ₦97.28 billion in profit before tax between January and September 2026. That is 37.1% more than it recorded over the same period last year. The Nigerian financial group also brought in higher earnings, with gross income reaching ₦454.94 billion, up from the previous year's nine-month figure by 33.2%. Profit after tax came in at ₦75.37 billion, an increase of 21%.
Not all of the money came from banking activities. The group earned ₦101.16 billion from non-interest income, which grew by 27.6%. This revenue came from fees, commodities trading and investments across its businesses. SterlingFi Wealth Management has also started contributing to the group's income. The business is in its second year of operation and forms part of the company's plans to earn more from services outside traditional banking.
Deposits and loans both grow
“Profit before tax rose by 37.1% to ₦97.28 billion, while the group's total assets crossed the ₦5 trillion mark.”
Sterling Financial's assets passed ₦5 trillion, reaching ₦5.10 trillion at the end of September. This was 30.4% higher than its position at the end of December 2025. Customer deposits increased to ₦3.84 trillion, while loans and advances reached ₦1.82 trillion. Both figures grew by close to 29% over the period.
Shareholders' funds also rose, reaching ₦595.2 billion, up 38.8%. The increase in deposits gives the group a larger pool of customer funds, while the growth in lending shows that more money is going out to borrowers. How well those loans perform will be important as the business continues to expand.
Looking for income outside banking
Sterling Financial owns businesses including Sterling Bank, Alternative Bank and SterlingFi Wealth Management. It wants these operations to contribute to group earnings rather than rely mainly on income from banking. Chief executive Yemi Odubiyi said the results reflected contributions from across the group. He also pointed to the need to manage capital carefully and maintain proper oversight as the different businesses grow.
The group reported a return on average equity of 20% and a return on average assets of 2.22% after tax. Sterling Financial has reported higher profits, deposits and assets in the first nine months of the year. Its wealth management business is also beginning to contribute. The next set of results should give a clearer picture of whether these newer operations can make a meaningful contribution to earnings over a longer period.
