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Corporate Profile2015
Board of Directors
About Us
Vision and Mission
Products and Market Focus
Strategy Map
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Our History
Sterling Bank Plc “the one-customer bank” is a full service nationalcommercial bank in Nigeria with asset base above $4.9 billion(N824 billion) and shareholders’ funds in excess of $504m (N85billion).
In over 50 years of operations, Sterling Bank (formerly NAL Bank)has evolved from the nation’s pre-eminent investment bankinginstitution to a fully-fledged commercial bank. Sterling Bank is aresult of NAL Bank’s merger with 4 other banks – Indo-Nigeria
Merchant Bank, Magnum Trust Bank, NBM Bank and Trust Bank ofAfrica – as part of the 2006 consolidation of the Nigerian bankingindustry.
With the acquisition of the business interest of the defunctEquitorial Trust Bank in 2011, the Bank enhanced its position in thehierarchy of major players in the sector.
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2013-2015
2015+
Key Information
CompanySterling Bank is a full service national commercial
Bank
Accounting International Financial Reporting Standards (IFRS)
Auditors Ernst & Young
Listing Nigerian Stock Exchange
Focus segments Retail, Corporate and Institutional clients
Active Customers > 1,000,000
Headcount >3000 professional employees
Channels 183 business offices; >700 ATMs; >3,000 POS
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2013-2015
2015+
RatingsMOODY’S RATINGS AGENCY
Long-term Local Currency and Foreign Currency deposit ratings:
B2 Outlook Stable
Short-term Local Currency and Foreign Currency Deposit ratings:
Not Prime
Long-term Local Currency and Foreign Currency Issuer ratings:
B2 Outlook Stable
Short-term Local Currency and Foreign Currency Issuer ratings:
Not Prime
Baseline Credit Assessment: B3
Adjusted Baseline Credit Assessment: B3
Counterparty Risk Assessment: B1(cr) Not Prime (cr)
Ratings Agency Short Term Long Term Outlook
GCR A3 BBB Stable
DATAPRO LIMITED A2 BBB+ Stable
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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 one of the 14 cleared banks following the 2009 audit of the banking sector by the Central Bank of 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
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+ +
About Sterling Bank
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Sterling Bank ReloadedIn 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
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Corporate Leadership
Mr. Yinka AdeolaNon-Executive Director
Mr. Olaitan Kajero
Non-Executive Director
Mrs. Tairat Tijani
Non-Executive Director
Mrs. Egbichi Akinsanya
Non-Executive Director
Mr. Rasheed Kolarinwa
Independent Director
Vision-led, values-driven and experienced team with track record of delivery
Dr. (Mrs.) Omolara Akanji
Independent Director
Mr. Asue Ighodalo
Chairman of the Board
Ms. Tamarakare Yekwe, MON
Independent Director
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Corporate Leadership
Mr. Yemi Razack Adeola
Chief Executive Officer/MDMr. Kayode Mudathir Lawal
Executive Director,
Corporate and Investment Banking
Mr. Lanre AdesanyaExecutive Director,
Commercial and Institutional Banking
Mr. Abubakar SuleimanExecutive Director,
Finance and Strategy/Chief Finance Officer
Vision-led, values-driven and experienced team with track record of delivery
Mr. Grama NarasimhanExecutive Director,
Retail and Consumer Banking
Mr. Yemi OdubiyiExecutive Director,
Operations and Services/Chief Operating Officer
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Executive Management ProfileMr. Lanre Adesanya
Executive Director, Commercial and Institutional Banking
Banking career spanning over 21 years, including executive management positions held
in Nigbel Merchant Bank Ltd (NBML), and successfully leading strategic business regions in
the country.
Mr. Kayode Mudathir Lawal
Executive Director, Corporate and Investment Banking
Mudathir has over 20 years professional experience spanning Trade & Manufacturing,
Treasury Marketing, Currency Trading, Inspection and Marketing.
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.
Mr. Abubakar Suleiman
Executive Director, Finance and Strategy/Chief Finance Officer
Abubakar has over 16 years professional experience spanning Risk Management, Treasury,
Strategy & Communications and Performance Management.
Mr. Grama Narasimhan
Executive Director, Retail and Consumer Banking
Grama has over 25 years professional experience with extensive knowledge of retail and
commercial banking as well as agricultural development.
Mr. Yemi Odubiyi
Executive 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
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Mr. Raheem Owodeyi
Chief 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.
Senior Management ProfileMr. Tunde Adeola
General 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, Kakawa Discount House Limited and the Trust Bank of
Africa, which merged with four other banks to form Sterling Bank Plc.
Mr. Adegboyega Adegun
General 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 Bakare
General 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.
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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
Customer focus, Integrity, Teamwork, Excellence
One-Customer
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Purpose
Enriching Lives
To our customers, we stand for value –we promise to solve their problems andto be fair and just in our pricing.
To our partners, we will be credible andequitable – we will prioritise long-termrelationships and offer fair terms in ourdealings.
In our communities, we will be known forsupport and collaboration – we will workto improve 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.
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Value Proposition
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Core Values
Customer Focus
The customer is “king”
Holistic understanding of the customer’s business
• Creativity in meeting the customers’ needs,both internal and external
Integrity
Fidelity and confidentiality geared
towards winning the customer’s implicit
trust
Team Work
“The success of one is the success of all”
Seamless interface of all parts of the business
Excellence
Commitment to excellence in all our
engagements
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Business Model
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
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2011-2014 2015+
Strategic Roadmap
Mid-term (2011-2016)
3-5% market share measured by assets
Leading consumer banking franchise (bank of choice for customers in our target markets)
Low single digit cost of funds Diverse retail funding base <5% in non-performing loans Diversified income streams with
top quartile position in all our operating areas
Investment grade credit rating Double digit revenue growth YoY
Long-term (2016+)
Globally competitive financial services franchise
Fully scaled business model with institutionalized processes beyond the stewardship of current owners and managers
Systemically important operator materially impacting all our sectors of business participation
Great place to work
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Market Focus
Corporate &
InvestmentRetail & Consumer
Commercial
& Institutional
3-Pronged Market Focus Strategy
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Product Categories’ Suite
Trade Finance
Project Finance
Bankers’ Acceptances
&
Commercial
Paper
Savings
Accounts
Current Accounts
Fixed Deposit
Accounts
E-BankingLocal & Int’l
Funds Transfer
Mortgage Finance
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Contact
Office: 20 Marina, Lagos, Nigeria
Tel: 234-(01) 4484481-5;
Fax No: 234-(01) 2702310
Website: www.sterlingbankng.com
E-mail: [email protected];
