Sterling Bank has reported a pre-tax profit of N55.53 billion for the six months ended 30 June 2026, representing an increase of 21.92% from N45.55 billion in the corresponding period of 2025.
For the second quarter, pre-tax profit stood at N27.62 billion, down 1.07% from the N27.92 billion recorded in the first quarter of 2026 but up 1.22% from N27.28 billion in the second quarter of 2025.
The bank’s half-year performance was supported by strong growth in net interest income and other operating income.
However, the second-quarter figures showed that rising impairment charges, higher operating expenses and weaker trading income absorbed much of the growth in operating income.
- Interest income: N223.58 billion (Up 33.75% YoY from N167.16 billion)
- Net interest income: N137.39 billion (Up 41.04% YoY from N97.42 billion)
- Net fees and commission income: N26.87 billion (Up 21.77% YoY from N22.07 billion).
- Net operating income after impairment: N169.57 billion (Up 23.18% YoY from N137.65 billion).
- Basic earnings per share: 77 kobo (Down 13.48% YoY from 89 kobo)
- Total assets: N4.67 trillion (Up 19.30% from N3.91 trillion in December 2025)
- Cash and balances with the Central Bank of Nigeria: N718.84 billion (Down 5.62% from N761.64 billion in December 2025).
- Customer deposits: N3.62 trillion (Up 21.13% from N2.98 trillion in December 2025).
- Total equity: N547.67 billion (Up 27.75% from N428.70 billion in December 2025)
Sterling Bank’s performance was driven mainly by stronger interest earnings. Interest income rose by 33.75% to N223.58 billion, with loans and advances to customers contributing N153.64 billion, or about 68.72% of the total. This shows that lending remained the bank’s most important source of income.
Income from debt instruments at fair value through other comprehensive income also increased by 36.05% to N37.83 billion, while income from cash and cash equivalents rose by 54.25% to N21.00 billion.
Together, these gains lifted net interest income by 41.04% to N137.39 billion.
