Sterling Financial Holdings Company Plc has confirmed that its core banking subsidiaries — Sterling Bank and The Alternative Bank — are fully recapitalised in line with revised requirements set by the Central Bank of Nigeria.

The Group said it received final regulatory approvals in January 2026, completing a capital-raising programme carried out between December 2024 and October 2025, ahead of the industry deadline.

Sterling HoldCo raised ₦73.86 billion through a private placement in December 2024, followed by a ₦26.64 billion rights issue in 2025. In October 2025, it also recorded an oversubscribed ₦88 billion public offer, with the Securities and Exchange Commission approving over 13.8 billion shares. In total, about ₦153 billion was injected into the two banks.

Group Chief Executive Officer, Yemi Odubiyi, said the recapitalisation strengthens the company’s capacity to expand credit, drive innovation, and support economic growth while maintaining financial stability.

He added that the Group’s dual-bank structure enhances its ability to serve both conventional and non-interest banking customers and reflects strong investor confidence.

Sterling HoldCo also plans to inject ₦10 billion into SterlingFI Wealth Management Limited to meet new capital requirements for capital market operators.

Meanwhile, the Group reported strong financial performance in its FY’25 interim results, with profit before tax rising by 99 per cent and gross earnings increasing by 46 per cent. Total assets grew to nearly ₦4 trillion, while shareholders’ funds rose to ₦424 billion.

The company said its strengthened capital base positions it for further expansion, digital growth, and revenue diversification.