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Board of Directors
About Us
Vision and Mission
Products and Market Focus
Strategy Map
3
About Us
Sterling Bank Plc “the one-customer bank” is a full servicenational commercial bank in Nigeria with asset baseabove $4.9 billion (N824 billion) and shareholders’ funds inexcess of $504m (N85 billion).
In over 50 years of operations, Sterling Bank (formerly NALBank) has evolved from the nation’s pre-eminentinvestment banking institution to a fully-fledgedcommercial bank. Sterling Bank is a result of NAL Bank’smerger with 4 other banks – Indo-Nigeria Merchant Bank,Magnum Trust Bank, NBM Bank and Trust Bank of Africa –as part of the 2006 consolidation of the Nigerian bankingindustry.
With the acquisition of the business interest of the defunct
Equitorial Trust Bank in 2011, the Bank enhanced itsposition in the hierarchy of major players in the sector.
Our History
5
2015+
Key Information
6
Ratings
2013-2015
2015+
Outlook Stable
Bank Deposits Rating B2/NP
Baseline Credit Assessment b3
Adjusted Baseline Credit Assessment b3
Counterparty Risk Assessment B1(cr)/NP(cr)
Issuer Rating B2
Ratings Agency Short Term Long Term Outlook
A3 BBB Stable
A2 BBB+ Stable
Ratings Agency Global Africa Nigeria
Top Ten Top Three Top
7
Incorporated
in 1990
New
Management (ex
Citi Seniors) took
over the bank in
2003
Strong player in
corporate and
commercial
banking segment
Key provider of
wealth
management and
personal banking
products
Sterling Bank is the product of the merger of five banks and emerged one of the 25
institutions in the sector following the 2006 consolidation. Also, Sterling Bank emerged as oneof the 14 cleared banks following the 2009 audit of the banking sector by the Central Bankof Nigeria.
NAL BankIndo-Nigerian
BankTrust BankNBM Bank
Incorporated in
1960 as Nigeria
Acceptances
Limited
Licensed in 1969
as Nigeria’s first
Merchant Bank
Listed as a public
Co. in 2000
Financial
supermarket
model with
footprints in
Asset Mgt,
Brokerage, etc
A subsidiary of
State Bank of
India, whose roots
can be traced to
the first decade of
the 19th century
Adopted universal
banking in 2001
Strong in trade
finance
Actively
intermediated
flows between
Nigeria and Asia
Incorporated in
1983
Converted from
Merchant to
Universal banking
in 2001
Became a
subsidiary of
Belgolaise bank,
itself a subsidiary of
Fortis group
Strong in Trade
Finance and the
main bankers to
many blue chip
European and
local companies
Magnum Trust Bank
Established
in 1991
Key player in the
retail and
commercial
banking market
Major presence in
public sector
revenue
collections
Significant market
share as clearing
bank to CSCS
++
+ +
About Sterling Bank
8
Sterling Bank Reloaded
In 2011, Sterling Bank merged with
erstwhile Equitorial Trust Bank Plc to
emerge a bigger and stronger bank.
Headquartered in Lagos, Sterling Bank is one
of Nigeria’s leading financial services
organisations, with a strong national presence.
The New Sterling Bank
Fast growing network comprising 183 branches and cash centres spread across the country
North East (4): 2.2%;
North West (19): 10.44%;
North Central (19): 10.44%;
South East (14): 7.69%;
South West (20): 10.99%;
South South (32): 17.58%;
Lagos (75): 41.21%
Growing e-Banking solutions deployment nationwide
Equitorial Trust Bank Plc
Incorporated on January 30,1990 as a Limited Liability Company
Licensed on February 7,1990 and commenced operations on March 1, 1990
Merged with Devcom Bank effective January 1, 2006
Major player in the consumer lending market segment and telecommunications sector
Board of Directors
10
Mr. Asue Ighodalo
Chairman of the Board
Mr. Olaitan KajeroNon-Executive Director
Mrs. Tairat TijaniNon-Executive Director
Vision-led, values-driven and experienced team with track record of delivery
Corporate Leadership
Mrs. Egbichi
AkinsanyaNon-Executive Director
Mr. Rasheed
KolarinwaIndependent Director
Dr. (Mrs.) Omolara
AkanjiIndependent Director
Ms. Tamarakare
Yekwe, MONIndependent Director
Mr. Michael JitubohNon-Executive Director
11
Mr. Yemi Razack Adeola
Chief Executive Officer/MD
Over 25 years professional experience spanning banking, finance, law, corporate consulting and the academia.
Served as Executive Director, Corporate and Commercial Banking between January 2006 and November 2007.
Worked in various executive management capacities in Citibank Nigeria, and Trust Bank of Africa Ltd.
Executive Management Profile
12
Mr. Lanre Adesanya
Executive Director,
Commercial &
Institutional Banking
Banking career spanning over 21 years, including
executive management
positions held in Nig-Bel Merchant Bank
Ltd (NBML), and successfully leading
strategic business regions in the
country.
Mr. Kayode M. LawalExecutive Director,
Corporate & Investment Banking
Mr. Kayode MudathirLawal has over 20 years professional
experience spanning Trade &
Manufacturing, Treasury Marketing, Currency Trading,
Inspection and Marketing.
Abubakar has over 16 years professional experience spanning
Risk Management, Treasury, Strategy &
Communications and Performance
Management.
Mr. Abubakar SuleimanExecutive Director,
Finance & Strategy/Chief Finance
Officer
Mr. Grama NarasimhanExecutive Director, Retail & Consumer
Banking
Grama has over 25 years professional experience with
extensive knowledge of retail
and commercial banking as well as
agricultural development.
Mr. Yemi OdubiyiExecutive Director,
Operations and Services/Chief
Operating Officer
Yemi has about 20 years professional
experience spanning various functions in
Operations and Technology, Trade Services, Structured
Finance, and Corporate Strategy
Executive Management Profile
13
Mr. Tunde AdeolaGeneral Manager, Lagos
Mainland Division
Tunde has over 24 years professional experience spanning banking and
discount house operations. Prior to his current role, he was
responsible for the Bank’s Lagos Island 2 Regional
business. A lawyer by training, he has worked variously at the erstwhile Liberty Bank Plc, KakawaDiscount House Limited
and the Trust Bank of Africa, which merged with
four other banks to form Sterling Bank Plc.
Mr. Raheem OwodeyiChief Compliance and Internal Control Officer
Raheem’s banking career spans over 19
years with great experience in audit, risk
management and control. He has worked in leadership capacities
at various Banks including Access Bank Plc and Citibank. Prior to joining Sterling Bank
Plc, he was Chief Inspector at Aso Savings
& Loans.
Mr. Adegboyega
AdegunGeneral Manager, Corporate Banking
Gboyega has 28 years experience in Banking
and Accounting. A member of the Institute
of Chartered Accountant of Nigeria
(ICAN), his banking career started in First
Bank of Nigeria before joining Magnum Trust
Bank, which merged with four other banks to form
Sterling Bank Plc.
Ms. Mojisola BakareGeneral Manager, Corporate Banking
Moji’s robust banking experience spans
Treasury, Operations and Marketing roles. She started her career in
Equitorial Trust Bank with responsibilities for
Transaction Services and Treasury. She has led the Corporate Banking team
since joining Sterling Bank in 2011.
Senior Management Profile
Vision & Mission
15
Vision & MissionOur overall business aspirations are reflected in our Vision and Mission Statements, which see the Bank as a
leading institution in the medium to long-term.
To be the financial
institution of choice
We deliver solutions
that enhance
stakeholders’ value
One-Customer
Customer focus, Integrity,
Teamwork, Excellence
16
To our CUSTOMERS, we will considerablyimprove turnaround time for transactions,enhance the service experience andincrease retail channels, ensuring ourservices are within easy reach
To our PARTNERS, we will be credible andequitable – we will prioritise long-term
relationships and offer fair terms in ourdealings.
In our COMMUNITIES, we will be known forsupport and collaboration – we will work toimprove the lives of the people in theplaces where we do business.
To our SHAREHOLDERS, we will strive forcompetitive returns without sacrificingsustainability – we will compete to be thebest but will not compromise the future.
Purpose- Enriching Lives
Value Proposition
Serving you within 5 minutes of queuing for routine transaction processing and requests that do not require any confirmation
Providing you with friendly, helpful service whenever you deal with us
Processing your transactions with no errors, and if we make a mistake, we will apologise and fix it quickly
Providing a safe and
conducive environment for
you to carry out your banking
transactions
We commit to
18
Core Values
• The customer is “king”
• Holistic understanding of the customer’s business
• Creativity in meeting the customers’ needs,both internal and external
Fidelity and confidentiality geared
towards winning the customer’s implicit
trust
“The success of one is the success of all”
Seamless interface of all parts of the
business
Commitment to excellence in all our
engagements
19
Awards1. The Banker Africa Award
• Best Corporate Governance Bank
2. EFMA/Accenture Award • Most Disruptive Technology/Innovation
3. The Banker Africa Award• Most Innovative Bank
4. Barbara Abike Epperson• Certificate for Excellence in CSR
5. Global Banking & Finance Award• Non-interest Bank of the Year
6. Nigeria Technology Award • Best Bank Website of the Year
7. Nigerian Risk Award
8. HSE Award
Strategy Map
21
Our Strategy
Manage risk,
balance sheet and
capital to deliver
superior returns to
shareholders.
Create a learning
organization to
optimize
productivity.
Optimize operations
and technology to
drive better control,
manage costs,
complexity and risk
Deliver excellent
customer service
and drive efficiency
and sales through
robust digital and
payments capability
Build a sustainable and trusted bank
Our Roadmap1. Focus on sustainable business lines
Building a stable funding base and lending securely
Retail Banking: “Growing with Nigeria”
Retail banking
provides a
sustainable
business model for
our ambitions.
We are building our
institution to cater
intelligently to the
growing, young and
dynamic Nigerian
population.
We are making
significant
investments in
technology
infrastructure that
include smart
systems for efficient
and prompt
processing...
...while upgrading
the aesthetic feel
of our touch
points to making
us more desirable.
We are building our
core banking
platform and
leveraging
technology to
improve processes.
Through educating
our people, we are
building a
knowledgeable
institution and offering
financial advisory to
our customers.
Ability to cater to
the complex
financial needs of
the next frontier in
Nigeria's financial
market
development
through innovative
payment solutions
and transaction
banking
Partnership and
alternative financing:
We remain
committed to
partnering to build
our business in
different segments,
while also leveraging
alternative finance
solutions through
non-interest banking.
Business Banking: “The next frontier”
2. Engage Our Community
A wealthy community produces a wealthy bank
Our purpose as an institution is to “enrich lives''. We believe that by involving our community in our growth, we can only grow bigger.
We will ensure that in our areas of operation, we improve human capital and encourage economic development and sustainability. We have defined education and the environment as part of our corporate responsibility because we believe that:
The key to human development in Nigeria is an enlightened population. Education reduces the susceptibility to poverty and other challenges which suppress growth
A clean environment enables a healthy life.
3. Build leadership from within
A business that lives beyond its current owners
As the financial institution of choice, sustainability and the ability for non-owners to
take on ownership is important. For this reason, we have designed an internal
leadership programme that enables the best in the industry compete to lead and
own the Bank. This allows our culture pervade and outlive the current owners and
managers of the bank.
In recognition of our desire to equip the next generation of leaders, the CIBN recently
accredited our training school as a forefront citadel of development in the country.
Mid-term (2017-2021) Long-term
Strategic Goals
5% market share measured by deposits
ROAE above peer group average
Low single digit cost funds
Diverse retail funding base
Non-performing loans below peer group average
Diversified income streams with topquartile position in all our operating areas
Investment grade credit rating
Double digit revenue growth YoY
Globally competitive financial services franchise by financial and non-financial measures
Fully sustainable business model with institutionalized processes beyond the stewardship of current owners and managers
Leading consumer banking franchise(bank of choice for customers in our target markets)
Great place to work
A trusted operator materially impacting all our segments of business participation
Cost of funds <5%
Customer-centric focus
We enrich our customers’ lives by providing timely and convenient financial solutions.
Key Activities
Key Resources
Relationship CharacteristicsSafe, flexible and
convenientAdvisory and Solutions
provider
Openness and transparency
Develop products Train staffEnhance technology
Customer Segments
Retail Commercial Corporate
Enhanced Brand
Specialized products
Capital Positive attitudes
Alternative Channels
Key Partners Sports Clubs
MultinationalsGovernment
Telecoms
Religious
bodies
Educational Institutions
Associations and Co-op societies
Service Consultants
Transport Organizations
NGOs
Business Model
28
Market Focus
Corporate &
InvestmentRetail & Consumer Commercial
& Institutional
3-Pronged Market Focus Strategy
Target Markets
Our choice of market segments is based on the understanding of emerging trends in the macroeconomic environment and opportunities in the sectors of interest.
Primary Markets Secondary Markets
Products
Savings
Accounts
Current
Accounts
Fixed
Deposit
Accounts
E-BankingLocal &
Int’l Funds
Transfer
Trade
Finance
Project
FinanceMortgage
FInance
Bankers’
Acceptances
& Commercial
Papers
Product Categories’ Suite
32
Contact
Office: 20 Marina, Lagos, Nigeria
Tel: 234-(01) 4484481-5;
Fax No: 234-(01) 2702310
Website: www.sterlingbankng.com
E-mail: [email protected]
