STERLING BANK

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STERLING BANK

Excellence and Innovation in Nigerian Banking

Website: http://www.sterling.ng/
Adjudged as the third best place to work in Nigeria at the 2019 edition of the annual great place to work awards, the sterling bank is one of the leading commercial banks in Nigeria.

Profile and Brand Showcase of Sterling Bank below

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Sterling Bank Plc

Excellence and Innovation in Nigerian Banking

Sterling Bank Plc, the "One-customer bank," stands as a leading full-service national commercial bank in Nigeria, dedicated to providing a comprehensive range of financial solutions. As it transformed into a holding company, Sterling Bank is poised to expand its footprint beyond banking and delve into other sectors, reflecting its commitment to fostering growth and development.

Catering to a diverse clientele including individuals, small and medium-sized enterprises (SMEs), and large corporations, Sterling Bank boasts a robust branch network of 140 locations spread across Nigeria and an assets base of NGN 1.9 trillion as at December, 2022.

The origins of Sterling Bank trace back to its incorporation in 1960 as Nigeria Acceptances Limited (NAL). It emerged as Nigeria's pioneer merchant bank in 1969, contributing significantly to the nation's financial landscape. Following the indigenization decree of 1972, the bank transitioned to full government ownership, forming partnerships with Grindlays Bank Limited, Continental International Finance Company Illinois, and American Express Bank Limited from 1974 to 1992.

In a landmark move to consolidate Nigeria's banking industry, NAL Bank executed a merger in January 2006, joining forces with Magnum Trust Bank, NBM Bank, Trust Bank of Africa, and Indo-Nigeria Merchant Bank (INMB). This amalgamation led to the birth of Sterling Bank, a united entity that has seamlessly operated as a consolidated group since its inception.

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Adapting to regulatory changes, Sterling Bank transitioned from universal banking to operate as a national commercial bank, divesting its holdings in subsidiaries and affiliate companies. In a significant development, the bank acquired the franchise of Equatorial Trust Bank in mid-2011, further solidifying its market presence.

At the heart of Sterling Bank's operations lies its commitment to simplicity and customer-centricity, hallmarks that permeate every facet of its business. With a clear vision to be the financial institution of choice, Sterling Bank relies on its dedicated workforce of 3,043 employees who diligently serve over 3.3 million customers across the nation.

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