Sterling Financial Holdings Company Plc has confirmed that its core banking subsidiaries — Sterling Bank and The Alternative Bank — have been fully recapitalised in line with the revised minimum capital requirements set by the Central Bank of Nigeria (CBN). The confirmation follows final regulatory approvals obtained in January 2026.

In a statement released on Monday, the Group said its capital-raising programme was largely completed between December 2024 and October 2025, placing it well ahead of the March 2026 industry deadline.

Group Chief Executive Officer, Yemi Odubiyi, said the recapitalisation strengthens the Group’s capacity to support economic growth while preserving financial stability. He noted that fully capitalising both Sterling Bank and The Alternative Bank reinforces the Group’s dual-bank model, enabling it to effectively serve both conventional and non-interest banking segments. Odubiyi added that strong investor participation across the various capital programmes reflects confidence in the Group’s governance framework and long-term strategy.

With a stronger balance sheet, he said, the Group is well positioned to scale its non-banking businesses, enhance digital capabilities, and pursue disciplined growth opportunities.

In December 2024, the Group concluded a N75 billion private placement, raising N73.86 billion in net proceeds. Of this amount, N68.8 billion was injected into Sterling Bank, while N5 billion was allocated to The Alternative Bank.

This was followed by a N28.79 billion Rights Issue, which was oversubscribed by N10.29 billion. Regulatory approvals secured in May 2025 allowed for the allotment of N26.639 billion under the Rights Issue, with the excess subscription restructured into a private placement to enable The Alternative Bank to meet the capital threshold for non-interest banks with national licences.

In total, the Group injected N153 billion into its two banking subsidiaries, bringing them into full compliance with the revised capital requirements.

Beyond its banking operations, Sterling HoldCo plans to inject N10 billion into SterlingFI Wealth Management Ltd, its asset management subsidiary, in line with the SEC’s revised minimum capital requirements for Capital Market Operators issued in January 2026. The additional capital will support the commencement of full operations and advance the Group’s revenue diversification strategy.

The recapitalisation milestone comes amid strong financial performance across the Group. Sterling Financial Holdings Company Plc (Sterling HoldCo) reported a sharp surge in earnings for the year ended December 31, 2025 , with profit before tax rising by 98.3% to N90.73 billion. Net interest income expanded by 55% to N208.89 billion, despite a 29.5% increase in interest expense to N160.67 billion, reflecting improved asset-liability.