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Sterling Financial Holdings Sustains Growth Momentum as Assets Cross ₦4 Trillion Mark in Q1, 2026

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…Group Profit rises 89% in FY2025, 53% in Q1 2026

Sterling Financial Holdings Company Plc (“Sterling Financial” or “theGroup”) has announced its audited financial results for the year ended December 31,2025, alongside its unaudited results for the first quarter ended March 31, 2026,delivering strong earnings growth, balance sheet expansion, and improved capitalstrength across the Group.According to statement by Group CFO, Sterling Financial Holdings Company PLC, Adebimpe Olambiwonnu, Gross Earnings for FY2025 increased by 44.4% to ₦486.8 billion, representing the strongest performance in the Group’s modern history. Profit Before Tax rose by 89.2% to ₦86.8 billion, while Profit After Tax increased by 74.8% to ₦76.3 billion.The Group’s balance sheet also strengthened significantly during the year. Total Assets reached ₦3.91 trillion, Customer Deposits grew to ₦2.98 trillion, and Loans and Advances closed at ₦1.41 trillion while Shareholders’ Funds expanded by 40.5% to ₦428.7 billion.Sterling Financial sustained this momentum into the first quarter of 2026, with TotalAssets crossing the ₦4 trillion threshold for the first time, reaching ₦4.07 trillion.Gross Earnings for Q1 2026 rose by 41.6% year-on-year to ₦134.8 billion, supported bya 36.8% increase in Net Interest Income to ₦64.9 billion.Operating income reached ₦93.4 billion during the quarter, while Profit Before Taxincreased by 52.8% to ₦27.9 billion and Profit After Tax rose to ₦23.4 billion.Shareholders’ Funds strengthened further to ₦542.5 billion following the successfulcompletion of the Group’s recapitalisation programme.Commenting on the Group’s performance, Yemi Odubiyi, Group Managing Directorof Sterling Financial Holdings Company Plc, said: “Our FY2025 and Q1 2026 results reflect continued growth across the Group’s core businesses, supported by disciplined execution, improved operating efficiency, and a strengthened capital position.The successful completion of our recapitalisation programme positions the Group for the next phase of growth across our commercial banking, non-interest banking, and wealth-management businesses. We remain focused on sustaining growth, strengthening our balance sheet and delivering long-term value across our diversified platform.”This period represents an important phase in Sterling Financial’s evolution, as thecontinued growth of Sterling Bank and The Alternative Bank, alongside the expansionof SterlingFI Wealth Management, positioned the Group to compete across multiple segments under a unified Group structure and shared strategic agenda.The Group enters the rest of 2026 with stronger capital, expanded operating capacity and continued momentum across its banking and wealth-management businesses.ABOUT STERLING FINANCIAL HOLDINGS COMPANYSterling Financial Holdings Company PLC (Sterling Financial) is a leading Nigerian financial services group committed to enriching lives through innovation and impact. It’s diversified portfolio includes Sterling Bank Limited, The Alternative Bank Limited and SterlingFI WealthManagement among other businesses.As a holding company, Sterling provides strategic direction, governance, and sharedcapabilities across its subsidiaries, enabling each to focus on its core mandate while benefiting from group-wide expertise, technology, and oversight.With a heritage of trust built over six decades, Sterling Financial is committed to financial innovation, advancing inclusion, and shaping sustainable growth in Nigeria’s economy. The group continues to champion customer-focused solutions and socially responsible initiatives while creating long-term value for shareholders, employees and the communities it serves.

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Banking and Finance

Union Bank Calls for Collaborative Advocacy at NCF World Environment Day Symposium

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L-R: Director, Communication, Policy and Advocacy, Nigerian Conservation Foundation (NCF), Mr. Kunle Olawoyin; Conservation Educator, National Park Service, Mrs. Ilesanmi Zuliat Hussain; Director, Business Development and Partnership, NCF, Mr. Uchenna Achunine; Chief Brand and Marketing Officer, Union Bank of Nigeria, Mrs. Olufunmilola Aluko; Divisional Head, Corporate Affairs, FCMB, Mr. Diran Olojo; Director, Department of Pollution Control and Environmental Health, Federal Ministry of Environment, Mrs. Olabimpe Adenaike; and Partner, KENNA Legal Practitioners, Mr. Daze Nga at the Nigerian Conservation Foundation Symposium held on June 19, 2026 at the Lekki Conservation Centre, Lekki, Lagos for the commemoration of World Environment Day.




Lagos, Nigeria – Union Bank, in partnership with the Nigerian Conservation Foundation (NCF), commemorated the 2026 World Environment Day with a symposium at the Lekki Conservation Centre in Lagos, calling for stronger collaboration to confront climate change, advance conservation and equip young people to lead a more sustainable future.
The gathering brought Union Bank together with leading stakeholders for frank discussions on environmental sustainability, climate action and shared responsibility, in keeping with this year’s World Environment Day theme, “Inspired by Nature. For Climate. For Our Future.” The conversation reflected a growing global consensus, captured in Sustainable Development Goal 13 on climate action and Sustainable Development Goal 17 on partnerships, that no single institution can meet the climate challenge alone.
Delivering her goodwill message, Union Bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, urged businesses to match their commitments with action and pointed to the decisive role of finance in shaping a greener economy. She said,
“As a Bank that has been part of Nigeria’s story for over a century, Union Bank recognises that sustainable development and environmental responsibility must go hand in hand. We believe businesses have a role to play not only in what they say, but also in what they do. Banks play an important role because they help determine where capital flows. The choices financial institutions make about what to fund and what to encourage help shape the kind of economy we build. This is a responsibility we take seriously at Union Bank, and it is one of the reasons gatherings like these matter to us.”
Her remarks echo the globally recognised principle that the financial sector is a powerful lever in the transition to a low carbon economy, where decisions on lending and investment can either accelerate or slow the shift to cleaner growth.
In his keynote address, the Director General of the Nigerian Conservation Foundation, Dr Joseph Daniel Onoja, framed conservation as a matter of human survival:
“Nature has placed all the models that we need to be able to live well in it. When we talk about nature conservation or environmental conservation, we’re saying human conservation because nature, Mother Earth, will always take care of herself. If we don’t take care of it, it will take care of itself by getting rid of us. Now, it is in our best interest to take care of the earth and learn from her, because she has provided everything we need to do so.”
A panel session featuring secondary school students from within and beyond Lagos brought an intergenerational dimension to the day. The students urged businesses and individuals to prioritise climate conscious investments and cleaner energy sources, and exhibited innovations that turned waste into interior décor and clean energy. Their work offered a vivid illustration of Sustainable Development Goal 12 on responsible consumption and production, and of the creativity a younger generation brings to the climate conversation.
Union Bank remains committed to supporting initiatives that advance environmental protection, ecosystem restoration and the development of more sustainable communities for present and future generations. For an institution that has been part of Nigeria’s story for more than a century, safeguarding the environment is inseparable from building an economy that endures.

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Banking and Finance

Fidelity Bank Wins DBN Award for Expanding First-time Credit Access to MSMEs

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L -R: Nneoma Onuoha, Acting Team Lead, Development Finance & Intervention Funds, Fidelity Bank Plc; Anthony Asonye, Managing Director/Chief Executive Officer, Impact Credit Guarantee Limited (ICGL); Ugochi Osinigwe, Divisional Head, Small and Medium-scale Enterprises Banking; Imaobong Nkanta, Product Manager, SME Banking; and Chiwuike Okere, Team Lead, SME Banking, (all of Fidelity Bank Plc); at the Development Bank of Nigeria Service Ambassadors Award which held recently in Lagos.

Fidelity Bank Plc has again reinforced its leadership in small and medium-scale business banking as it emerged the winner of the Development Bank of Nigeria (DBN) Service Ambassadors Award for the Highest Impact on MSMEs Accessing Credit for the First Time.The award recognises the Deposit Money Bank that has successfully onboarded previously unbanked or credit excluded Micro, Small and Medium Enterprises across Nigeria, reflecting Fidelity Bank’s sustained commitment to deepening financial inclusion, improving access to credit and supporting enterprise growth.Speaking on the recognition, Divisional Head, Small and Medium-scale Enterprises Banking, Fidelity Bank Plc, Ugochi Osinigwe, expressed appreciation to DBN and reaffirmed the bank’s commitment to the growth of small and medium-scale businesses across the country.“We sincerely thank the Development Bank of Nigeria for this recognition, which affirms the impact of our work in expanding access to finance for MSMEs, especially businesses accessing formal credit for the first time. At Fidelity Bank, we remain devoted to supporting SMEs with the right mix of funding, advisory services, capacity building, market access and digital solutions that enable them to grow, create jobs and contribute meaningfully to the economy,” Osinigwe said.She added that the award would further encourage the bank to deepen its interventions in the SME sector and continue to provide practical solutions that help entrepreneurs overcome barriers to growth.The latest recognition builds on Fidelity Bank’s long-standing partnership with DBN and its consistent support for Nigeria’s MSME ecosystem. In 2025, the bank received the DBN Innovation Award in the Deposit Money Bank category, in recognition of its outstanding contribution to the development and delivery of innovative financial products and services tailored to MSMEs. The bank had also received the 2020 DBN Service Award for the Highest Disbursement to DBN-focused locations, a recognition that highlighted its role in facilitating access to affordable funding for small and medium-scale businesses across targeted markets.Over the years, Fidelity Bank has implemented several initiatives that support small and medium-scale businesses beyond access to loans. For instance, the bank established the Fidelity SME Hub in Gbagada, Lagos, as a dedicated facility for entrepreneurs, offering access to training halls, meeting rooms, networking spaces, business advisory support and creative studios for content production.The bank also recently launched its Fidelity Quarterly Business Forum, a strategic engagement platform designed to connect SME founders, business leaders, policymakers and industry experts for practical discussions on business growth, trade, innovation and sustainability. The maiden edition, held in Port Harcourt, focused on scaling trade and distribution businesses for sustainable growth, while providing entrepreneurs with relevant insights, networking opportunities and advisory support.In addition, Fidelity Bank has continued to support entrepreneurs through its SME Masterclass Series, which deliver practical capacity building in areas such as pricing, product quality, online sales, business visibility and preparation for international expansion. The initiative forms part of the bank’s broader commitment to equipping SMEs with tools they can apply immediately to improve competitiveness and profitability.The bank has also played a key role in the disbursement of the Federal Government of Nigeria MSME Intervention Funds, administered by the Bank of Industry, with a strategic focus on supporting qualified businesses and empowering women owned enterprises. Through its nationwide branch network, digital banking platforms and experienced relationship managers, Fidelity Bank continues to provide structured support to entrepreneurs across urban and rural communities.Fidelity Bank’s broader SME support architecture also includes export development and market access programmes. Through the Fidelity Nigeria International Trade and Creative Connect, the bank connects Nigerian businesses to international markets, including the United Kingdom and the United States. It also partners with the Nigerian Export Promotion Council and Lagos Business School on the Export Management Programme, which equips entrepreneurs and aspiring exporters with the skills, knowledge and networks required to compete in regional and global markets.The bank’s partnership with the National Credit Guarantee Company further strengthens its support for MSMEs by helping to reduce lending risks and expand access to finance. The collaboration also includes financial literacy and business management training to help MSME beneficiaries manage their loans effectively and build sustainable enterprises.With these interventions, Fidelity Bank continues to demonstrate a multi-dimensional approach to SME development, combining finance, advisory services, capacity building, digital enablement, market access and strategic partnerships to support businesses at different stages of growth.Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.

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Fidelity Bank Empowers Plateau Schoolchildren with School Packs Donation

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In a significant demonstration of its commitment to the development of education and community empowerment, Fidelity Bank Plc has donated back-to-school packs to school pupils in Plateau State.The intervention, which took place in Jos, saw over 600 randomly selected pupils drawn from all 17 Local Government Areas of the state benefit from the bank’s Corporate Social Responsibility (CSR) initiative. Each pupil received a school bag containing exercise books, writing materials, a mathematical set, and a water bottle, in a gesture designed to support their learning journey and encourage academic excellence.The initiative was facilitated by staff of Fidelity Bank’s University of Jos Branch, reflecting the bank’s culture of giving back to the communities it serves through the Fidelity Helping Hands Programme (FHHP), a key feature of the bank’s CSR strategy. Through the programme, staff identify impactful community projects and raise funds to support them, while the bank’s management matches their contributions to expand the reach and impact of each intervention.Speaking at the event, Dr. Meksley Nwagboh, Divisional Head, Brand and Communications, Fidelity Bank Plc, said the initiative underscores the bank’s unwavering commitment to education as a catalyst for national development. “Investing in young people is one of the most impactful ways to build a brighter future, as education equips children with the knowledge, confidence, and opportunities needed to contribute meaningfully to society.Nwagboh further stated that the intervention reflects Fidelity Bank’s broader commitment to social impact and sustainable community development through initiatives that improve lives and create long-term value. He emphasized that the Bank remains dedicated to empowering future generations through education-focused programs and encouraged the pupils to remain diligent in their studies, reminding them that their aspirations are valid and that the future of Nigeria rests in the hands of well-educated, determined, and inspired young people.Also speaking at the presentation event, Shunom Leo, Branch Leader, Fidelity Bank, University of Jos Branch, whose team championed the intervention, said the initiative reflects the bank’s dedication to nurturing future leaders.“This is more than a donation of school items. It is a deliberate investment in the future of Plateau State and in the promise these children represent. Across Nigeria, Fidelity Bank has remained committed to projects that improve lives, support education and strengthen communities,” Leo said.Representing Governor Caleb Mutfwang, the Plateau State Governor, the Commissioner for Women Affairs and Social Development, Ms. Caroline Dafur, commended Fidelity Bank and Plateau State Sustainable Development Goals (SDGs) office for what she described as a timely and meaningful investment in children.“Let me sincerely appreciate Fidelity Bank and the Plateau State SDGs office for organizing this memorable ‘back-to-school’ campaign. This gesture of distributing school bags and learning equipment to our pupils is more than charity; it is an investment in the future of Plateau children,” Dafur said.She further reaffirmed the Plateau State Government’s commitment to prioritizing education, healthcare, social protection, and the overall wellbeing of children, while calling for increased collaborations to ensure sustained development.In her opening remarks, Mrs. Nanbam Danjuma-Lot, Project Coordinator of the Plateau State SDGs, applauded Fidelity Bank for partnering with the agency to positively impact the lives of children across the state, stating that, “Partnerships such as this demonstrate the power of collaboration in addressing societal challenges. Fidelity Bank has shown commendable leadership by investing in the future of our children, and we hope more organizations will follow this example by contributing meaningfully to their host communities.”Similarly, Mr. Sunday Amuna, Executive Secretary of the Plateau State Universal Basic Education Board (SUBEB), described the intervention as a foundation-laying initiative that would have long-term benefits for the beneficiaries.”The strength and durability of any structure depend largely on its foundation, the foundation we give these children today will determine the stability of their future. Fidelity Bank has made a meaningful contribution to that foundation and we commend the bank for this impactful intervention,” he said.Notably, the donation also benefited physically challenged children with varying degrees of disability, reinforcing Fidelity Bank’s commitment to inclusion and equal opportunities for all.Through initiatives such as the FHHP, Fidelity Bank continues to demonstrate its commitment to empowering communities, supporting education and contributing to sustainable development across Nigeria.Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.Photo caption:L-R: Mrs. Nanbam Danjuma-Lot, Project Coordinator of the Plateau State Sustainable Development Goals (SDGs); Mr. Shunom Leo, Branch Leader, Fidelity Bank University of Jos Branch; Ms. Caroline Dafur, Plateau State Commissioner for Women Affairs and Social Development; Hon. Sunday Amuna, Executive Chairman, Plateau State Universal Basic Education Board (SUBEB); Mr. Saje Joseph, Director of Planning, Research, and Statistics, Plateau State Ministry of Education; and Mrs. Victoria Abuka, Team Lead, Corporate Social Responsibility, Fidelity Bank Plc; at the Fidelity Helping Hands Programme (FHHP) Back-to-School outreach in Plateau State recently.

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