Sterling Financial Gains 7% as NGX Sell-Off Deepens, Half-Year Profit Hits ₦50.3bn

Sterling Financial Holdings gained 7% on Thursday to rank among the Nigerian Exchange’s top five performers, despite a wider market sell-off that wiped more than ₦1.65 trillion from equities in two sessions. The NGX All-Share Index fell 0.66% to 245,362.26 points, while market capitalisation declined to ₦158.34 trillion. Banking stocks were among the hardest hit, with the NGX Banking Index down 2.04% as investors took profit after July’s rally. Sterling Financial was one of 17 advancing stocks, placing third behind Legend Internet and Daar Communications. Its shares traded 36.01 million units valued at about ₦286.8 million. The gain followed the release of the group’s unaudited half-year 2026 results. Profit after tax rose 20.4% to ₦50.30 billion, while gross earnings increased 31.5% to ₦279.6 billion. Total assets reached ₦4.67 trillion and customer deposits grew to ₦3.62 trillion.

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