Sterling Financial Holdings Company Plc has announced that its core banking subsidiaries, Sterling Bank and The Alternative Bank (AltBank), have successfully achieved full recapitalization as per the Central Bank of Nigeria's updated minimum capital standards. This announcement was made following the final regulatory approvals that were granted in January 2026. The recapitalization process began in earnest between December 2024 and October 2025, placing the company in a favorable position ahead of the industry's 2026 deadline.

In late December 2024, Sterling Financial Holdings raised N75 billion through a private placement, netting N73.86 billion, with the majority of the capital allocated to Sterling Bank (N68.8 billion) and a smaller portion to AltBank (N5 billion). This significant capital influx has bolstered the financial health of both institutions, providing them with a stronger foundation to meet regulatory requirements. Following this capital raise, the company initiated a N28.79 billion rights issue, which was oversubscribed by N10.29 billion, further demonstrating investor confidence in the Group’s financial strategy.

Regulatory nods received in May 2025 facilitated the allocation of N26.639 billion from the rights issue, marking a crucial step in ensuring compliance with the Central Bank’s regulations. This comprehensive recapitalization effort not only enhances the stability of Sterling Financial Holdings' subsidiaries but also positions them competitively within Nigeria's banking sector, especially in a landscape where regulatory compliance is increasingly prioritized. The successful execution of these financial maneuvers reflects the Group's strategic approach to risk management and capital adequacy in alignment with national banking standards.