Sterling Financial Rallies Against Market Tide, Ranks Among NGX’s Top Gainers
Shares of Sterling Financial Holdings Company Plc closed among the five best-performing stocks on the Nigerian Exchange (NGX) on Thursday, gaining 7% even as the broader market extended a two-session sell-off that lowered total equities value by more than ₦1.65 trillion.
The benchmark NGX All-Share Index fell 0.66% to 245,362.26 points, with market capitalisation easing to ₦158.34 trillion. Decliners outnumbered advancers 45 to 17, and the NGX Banking Index shed 2.04% as investors continued to take profit following the market’s July rally. Analysts at Cowry Asset Management said profit-taking was likely to persist across most sectors in the near term.
Against that backdrop, Sterling Financial was one of only 17 stocks to advance, ranking third among the day’s top gainers behind Legend Internet and Daar Communications. The counter traded 36.01 million shares valued at about ₦286.8 million.
The move followed the Group’s release of its unaudited results for the first half of 2026. Sterling Financial reported profit after tax of ₦50.30 billion, up 20.4%, and profit before tax of ₦55.50 billion, up 21.9%. Gross earnings rose 31.5% to ₦279.6 billion, led by a 33.7% increase in interest income, while net interest income climbed 41.0% to ₦137.4 billion.
The Group’s balance sheet continued to expand, with total assets up 19.3% to ₦4.67 trillion and customer deposits up 21.1% to ₦3.62 trillion. Shareholders’ funds rose 27.8% to ₦547.7 billion, reflecting the ₦96.6 billion raised through a public offer of 13.8 billion ordinary shares completed during the period. Return on average equity stood at 20.6%, while return on average assets improved to 2.35% from 2.05%.
Basic earnings per share stood at 77 kobo, reflecting the enlarged share base following the offer. The Group has said its share price is up more than 15% from its year-opening position.
Sterling Financial operates as a diversified financial holding company, with interests spanning conventional banking through Sterling Bank Limited, non-interest finance through The Alternative Bank Limited, and wealth management through SterlingFI Wealth Management.
The Group has attributed its first-half performance to continued modernisation of its technology and operating model, and expects to build on the momentum gained in the second half of the year. #Sterling Financial Rallies Against Market Tide, Ranks Among NGX’s Top Gainers# Sterling Holdings Drops by 7% as Earnings Per Share Sinks
