Alternative Bank Limited, a non-interest banking subsidiary of Sterling Financial Holdings, names Gul Khan as its new Managing Director and Chief Executive Officer. The appointment follows regulatory approval from the Central Bank of Nigeria (CBN). Alt Bank operates under Sterling HoldCo’s financial services umbrella, offering banking solutions without interest-based transactions.
Sterling Financial Holdings reports a **37% increase in pre-tax profit** for the first nine months of 2026, reaching **N97.28 billion**. The growth follows a 2025 comparative figure of **N70.96 billion** for the same period. The company’s unaudited results cover the period ending **September 30, 2026**, highlighting stronger financial performance in its core operations.
Sterling Financial Holdings completes a 1-for-10 share reconstruction, reducing its outstanding shares by 90% and resetting its quoted price from N7.70 to N77. The move aims to streamline its share structure amid market adjustments. The company operates in Nigeria’s financial services sector.
Sterling Financial Holdings recapitalizes its two subsidiaries, Sterling Bank and The Alternative Bank, to meet Nigeria’s revised minimum capital requirements set by the Central Bank of Nigeria. The move ensures compliance with updated regulatory thresholds for core banking operations. The announcement follows the CBN’s updated capital adequacy directives for financial institutions.
