2014 Corporate Profile

1 About Us
2 Board of Directors
3 Vision and Mission
4 Products and Market Focus
5 Strategy Map
About Sterling Bank …
Sterling Bank Plc “the one-customer bank” is a full service
national commercial bank in Nigeria with asset base above
$4.4 billion (N707 billion) and shareholders’ funds in excess of
$395m (N63 billion).
Our History
In over 50 years of operations, Sterling Bank (formerly NAL Bank)
has evolved from the nation’s pre-eminent investment banking
institution to a fully-fledged commercial bank; and completed
a merger 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 banking industry.
With the acquisition of the business interest of the defunct
Equitorial Trust Bank in 2011, the Bank enhanced its position in
the hierarchy of major players in the sector.
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About Sterling Bank …
Company
Accounting
Auditors
Listing
Focus segments
Active Customers
Headcount
Channels
Sterling Bank is a full service national commercial Bank
International Financial Reporting Standards (IFRS)
Ernst & Young
Nigerian Stock Exchange
2015+
Retail, Corporate and Institutional clients
2013-2015
> 1,000,000
2,735 professional employees
168 business offices; >400 ATMs; 5,000 POS
Ratings Agency
Short Term
Long Term
GCR
A3
BBB
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About Sterling Bank
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 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
+
Indo-Nigerian
Bank
 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
+
NBM Bank
 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
6
+
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
+
Trust Bank
 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 Reloaded
Headquartered in Lagos, Sterling Bank is
one of Nigeria’s leading financial services
organisations, with a strong national
presence.
In 2011, Sterling Bank merged with
erstwhile Equitorial Trust Bank Plc to
emerge a bigger and stronger bank.
Equitorial Trust Bank Plc
The New Sterling Bank
 Incorporated on January
30,1990
as a Limited Liability
Company
 Fast growing network comprising
168 branches and cash centres
spread across the country
 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
 North East:
3.7%;
 North West:
8.6%;
 North Central:
9.1%;
 South East:
13.4%;
 South West:
10.2%;
 South South:
9.1%;
 Lagos :
46.0%
 Growing e-Banking solutions
deployment nationwide
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Corporate Leadership
Vision-led, values-driven and experienced team with track record of delivery
Mr. Adeyinka Adeola
Non-Executive Director
Ms. Tamarakare Yekwe, MON
Non-Executive Director
Mr. Asue Ighodalo
Mr. Rasheed Kolarinwa
Non-Executive Director
Chairman of the Board
Raghavan Karthikeyan
Non-Executive Director
Ms. Olufunmilayo Osunsade
Non-Executive Director
Dr. (Mrs.) Omolara Akanji, MON
Non-Executive Director
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Corporate Leadership
Vision-led, values-driven and experienced team with track record of delivery
Mr. Lanre Adesanya
Executive Director , South
Mr. Devendra Nath Puri
Executive Director , Lagos
Mr. Yemi Razack Adeola
Chief Executive
Officer/MD
Mr. Kayode Mudathir Lawal
Executive Director, North & Corporate
Banking
Mr. Abubakar Suleiman
Executive Director/Chief Financial
Officer
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Senior Management Profile
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. Lanre Adesanya
Executive Director South
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 North & Corporate Banking
Mudathir has over 20 years professional experience spanning
Trade & Manufacturing, Treasury Marketing, Currency Trading,
Inspection and Marketing.
Mr. Abubakar Suleiman
Executive Director/ Chief Financial Officer
Abubakar has over 16 years professional experience spanning
Risk Management, Treasury, Strategy & Communications and
Performance Management.
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Senior Management Profile….
Mr. Yemi Odubiyi
Chief Operating Officer
 Yemi’s banking career spans over 17 years. Prior to his current role, he served as Chief Strategist and
before that, Head of Structured and Trade Finance. He previously served as Chief Operating Officer at
Trust Bank of Africa Limited before its merger into Sterling Bank Plc. in December 2005. He is a graduate
of the Citibank Management Associate program and his professional experience spans Strategy &
Finance, Corporate & Investment Banking as well as Banking Operations.
Mr. Raheem Owodeyi
Chief Compliance and Internal Control Officer
 Raheem’s banking career spans over 18 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. Tunde Adeola
General Manager, Lagos Mainland Division
 Tunde has over 23 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 27 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 & Mission
Our 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.
 Customer focus,
Integrity,
Teamwork,
Excellence
 To be the financial
institution of choice
 One-Customer
 We deliver solutions
that enhance
stakeholders’ value
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Purpose
To our customers, we stand for value –
we promise to solve their problems and
to be fair and just in our pricing.
To our partners, we will be credible and
equitable – we will prioritise long-term
relationships and offer fair terms in our
dealings.
Enriching
Lives
In our communities, we will be known for
support and collaboration – we will work
to improve the lives of the people in the
places where we do business.
To our shareholders, we will strive for
competitive returns without sacrificing
sustainability – we will compete to be the
best but will not compromise the future.
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Core Values
Customer Focus
Integrity
 The customer is “king”
 Fidelity and confidentiality geared
 Holistic understanding of the customer’s
business
towards winning the customer’s implicit
trust
• Creativity in meeting the customers’ needs,
both internal and external
Team Work
Excellence
 Commitment to excellence in all our
 “The success of one is the success of all”
Seamless interface of all parts of the business
engagements
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Product Categories’ Suite
Savings
Accounts
E-Banking
Project
Finance
Current
Accounts
Local & Int’l
Funds
Transfer
Mortgage
Finance
Fixed
Deposit
Accounts
Trade
Finance
Bankers’
Acceptances
&
Commercial
Paper
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Products & Services
Retal Banking
Treasury Services
Ancillary Products
 Key 360
 Interbank Money Market
 DSTV
 Sterling Acquire
 Negotiable Certificates of
Deposit
 PHCN
 I Can Save
 Sterling Choice
 Sterling Plus
 Sterling Recurring Deposit
Account
 Treasury Bills
 Commercial Paper
 Bankers’ Acceptances
 Foreign Exchange
 Sterling Premier
 Sterling SUPA
 Sterling Kia-Kia
 Sterling Arsenal Account
 Sterling Hype
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 Embassy Payments
 AutoReg
 e-Passport
 Customs Duties
 FIRS
Market Focus
Institutional
Corporate &
Govt/Public
Consumer
& Retail
3-Pronged Market Focus Strategy
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Commercial
& SMEs
Strategic Roadmap
2011-2014
2015+
Mid-term (2011-2014)
Long-term (2015+)
 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
 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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Contact
Office: 20 Marina, Lagos, Nigeria
Tel: 234-(01) 2600420-9;
Fax No: 234-(01) 2702310
Website: www.sterlingbankng.com
E-mail: [email protected];
[email protected]
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