LAGOS, Nigeria — Sterling Financial Holdings Company Plc reported a pre-tax profit of ₦97.28 billion in its unaudited results for the nine months ended September 30, 2026. That is an increase of 37.09% from ₦70.96 billion in the same period of 2025.
Gross earnings rose 33.15% to ₦454.94 billion from ₦341.67 billion, driven mainly by higher interest income and other operating income. Profit after tax rose 20.99% to ₦75.37 billion from ₦62.30 billion.
Income tax rose to ₦21.91 billion from ₦8.66 billion, which limited the growth in profit after tax. Basic earnings per share fell 11.47% to ₦11.35 from ₦12.82, but both figures are restated for the company’s share reconstruction, which the results summary does not explain in detail.
Interest income rose 34.82% to ₦353.78 billion, and accounts for about 78% of gross earnings. Most of the growth came from loans to customers, whose interest income rose 39.65% to ₦244.42 billion. Income from debt instruments at fair value through other comprehensive income rose 26.14% to ₦57.73 billion, and income from cash and cash equivalents rose 36.10% to ₦32.03 billion.
Interest expense rose 23.88% to ₦147.88 billion, mainly because of interest on customer deposits, which increased 23.06% to ₦92.43 billion. Interest paid to other banks rose 35.71% to ₦21.40 billion, and returns to investment account holders rose 53.29% to ₦20.57 billion.
As a result, net interest income rose 43.94% to ₦205.90 billion.
Net fee and commission income rose 10.44% to ₦39.63 billion, helped by facility management fees, e-business commissions and account maintenance fees. Commissions on letters of credit and off-balance-sheet transactions fell, and fee and commission expenses rose to ₦10.18 billion from ₦8.47 billion. Net trading income fell 6.47% to ₦21.30 billion. Other operating income rose 95.37% to ₦40.23 billion.
Credit impairment charges were the main pressure on profit. Credit loss expenses rose to ₦40.28 billion from ₦8.09 billion. In the third quarter alone, impairment charges reached ₦16.43 billion, compared with ₦2.87 billion in the third quarter of 2025. Operating income still rose 38.13% to ₦307.06 billion.
Total assets increased to ₦5.10 trillion from ₦3.91 trillion at the end of 2025. Customer deposits rose 28.74% to ₦3.84 trillion, and loans and advances to customers rose 28.77% to ₦1.82 trillion. Total equity increased 38.83% to ₦595.16 billion, supported by retained earnings and proceeds from the group’s public offering.
The non-performing loan ratio stood at 4.6%, compared with 4.7% at the end of December 2025.
The shares closed at ₦77.00 on Wednesday, October 28, 2026, up 1.32% from ₦76.00 in the previous session. Trading volume rose to 3.80 million shares from 487,524 the day before.
