9th March, 2012
Sterling Bank Plc is poised to become a systemically important commercial bank that impacts on all sectors of business participation in the economy going by feelers from those close enough to the bank’s business strategy.
This much was disclosed in a report titled: “Sterling Bank: Yesterday, Today and Tomorrow,” It was further revealed that the bank is aiming at strengthening its firm hold with the aim of becoming the leading tier 2 bank in the country by 2016.
In relation to the global market place, Sterling Bank desires to be a competitive financial services franchise, fully scaled business model with institutionalised processes beyond the stewardship of current owners and managers and a systemically important operator materially impacting all its sectors of business participation.
Sterling Bank currently operates a national commercial banking license and has been rated ‘Short Term A3,’ with a stable outlook). It recently assimilated the business interest of the erstwhile Equitorial Trust Bank to emerge a formidable tier 2 bank.
With current business focus being the mid-tier corporate, institutional banking, small and medium scale enterprises (SMEs), government and consumer banking; the bank’s vision is to be the financial institution of choice while its mission is to deliver solutions that enhance stakeholders’ value.
According to the bank’s chief strategy officer, Yemi Odubiyi, “Sterling Bank’s customers and shareholders are in for a good time. He also reiterated that the bank will remain true to its core values of customer focus, integrity, team work and excellence”.
Sterling Bank Plc is the preeminent investment banking establishment in Nigeria. It commenced operations as NAL Bank in 1960. Today, with a capital base of more than N44 billion, over N508 billion in assets and about 200 branches nationwide complimented with 200 Automated Teller Machines (ATMs) points nationwide, Sterling Bank has grown into a major commercial Bank in Nigeria. The bank prides itself as “The one-customer Bank” that celebrates every customer as a unique individual.