Sterling Bank Plc is a Nigeria-based financial institution that engages in universal banking while focusing on trade finance, investment banking, consumer banking, capital market activities.
Sterling bank also provides wholesale banking services. These include savings, current, investment accounts, loans, cards and electronic payments or financial advisory and many others.
The Bank operates as a diversified universal bank with operations the following.
- Investment Banking
- Asset management
- Stock brokerage
- Savings and Loans
- Pension Funds Management
- Insurance Brokerage
- Registrar Services
Sterling bank operates through four wholly owned subsidiaries. These are:
-Sterling Capital Markets Limited
-Sterling Assets Management
-SBG Insurance Broker Limited.
Operations of Sterling Bank
There was a consolidation of the Nigerian banking industry in January 2006, this included NAL Bank completing a merger with four other Nigerian Banks which are Magnum Trust Bank, NBM Bank, Trust Bank of Africa and Indo-Nigeria Merchant Bank (INMB). After the merger, the name ‘Sterling Bank’ was adopted.
The merged financial institutions were successfully integrated and have operated as a consolidated group since then.
However, because the Central Bank of Nigeria annulled universal banking, Sterling Bank currently operates as a national commercial bank and has disposed of holdings in subsidiaries and affiliated companies.
In mid-2011, Sterling Bank Plc acquired the franchise of the one time Equitorial Trust Bank.
Over time, Sterling bank has grown to 160 business offices and 3,800 alternative delivery channels all over the nation.
The Executive Director of Sterling bank is Emefienim Emmanuel
History of Sterling Bank
Sterling Bank Plc was initially incorporated in 1960 as Nigeria Acceptances Limited (NAL).
It was licensed as Nigeria’s first merchant bank in 1969.
Following the indigenization decree of 1972, in 1974, Sterling Bank became fully government owned and was managed in partnership with American Express Bank Limited, Grindlays Bank Limited and Continental International Finance Company Illinois, this went on till 1992.
In 2000, the Nigerian government sold its residual interest in the bank. This fully made it a fully privatized institution.[5]
The consolidation plan of the Nigerian banking industry in January 2006, made the NAL bank form a merger with four other banks and the name Sterling bank was adopted.
Operations of Sterling Bank
Sterling Bank operations and Products are classified into three clusters:
- Consumer-Retail: This deals with several initiatives such as Agent Banking for those referred to as the underbanked/unbanked. Other initiatives include: Micro-credit for youths through Social Lender
- Commercial: This deals with several sectors in the Nigerian economy such as the Agricultural sector and its development
- Corporate: This has to do with other sectors such as Telecommunications, Power and Steel, Food and Beverages and many others
- The Head Office in 20 Marina, Lagos
- 189 branches across the country
- 1,871 POS terminals with several merchants
- 776 ATMs across the country
Specialized services
- Private Banking and Wealth Management
Sterling Bank also caters to individuals with high net worth through their arm of Private Banking and Wealth Management. They offer products such as Philanthropy management, Trust and Fiduciary Services, Investment Advisory and many others.
- Sterling Alternative Finance (Non-Interest Banking)
In 2013, Sterling bank received licensed by the Central Bank of Nigeria to provide non-interest banking services. This was after the bank had met the set criteria.
The alternative banking products are divided into three groups: Financing, Transactional, and Investment.
The Bank has an Advisory Committee of Experts (ACE) who approve of all products of the bank and make sure they are compliant with the rules of Islamic jurisprudence. This is to ensure this arm of the business is in line with global best practices.
STERLING MOBILE APP
- Pay your bills
- Transfer funds between accounts
- View your account balances
- Make deposits
Sterling bank branches in Abuja
Below is a list of Sterling bank branches in Abuja, the Federal Capital Territory, Nigeria
- Sterling Bank
Address: Plot 603, Kashim Ibrahim Way at Wuse 2, Abuja.
Email:
Website: https://www.sterlingbankng.com/
- Sterling Bank
Address: Gateway Plaza, Plot 208, Zakariyahu, Mai-Malari Street, Off Hebert Macaulay Way, Central Business District, Garki, Abuja.
Phone: +234 9 2349714, 2349702, 2349739 Website: https://www.sterlingbankng.com/
- Sterling Bank
Phone: +234 1 2346345, 2346473
Website: https://www.sterlingbankng.com/
- Sterling Bank
Address: Conoil Premises, Kado, Abuja.
Website: https://www.sterlingbankng.com/
- Sterling Bank
Location: Suite 013, New Building, House Of Reps, National Assembly Complex at Asokoro, Abuja.
Phone: +234 9 7830725
- Sterling Bank
Address: Conoil Station, Utako, Abuja.
Phone: +234 (0) 709 810 9036 and 0705 539 3803
Website: https://www.sterlingbankng.com/
- Sterling Bank Plc.
Phone: +234 9 8706132, (0) 702 847 1876
Website: http://www.sterlingbankng.com
- Sterling Bank Plc.
Address: 450, Kontagora Close Area 3, Garki, Abuja.
Phone: +234 9 6723514, 8709994, (0)702 847 1803, 702 847 1768
Email: customercare@sterlingbankng.com
- Sterling Bank Plc.
Location: Block T,16, Samuel Akintola, Boulevard Area 11 at Garki, Abuja.
Phone: ; Fax:
Email: customercare@sterlingbankng.com
- Sterling Bank Plc.
Location: SB 67 National Assembly Complex at Three Arms Zone, Abuja.
Phone: +234 (0) 7028471878
Email: customercare@sterlingbankng.com
Website: http://www.sterlingbankng.com
- Sterling Bank Plc.
Phone: +234 (0) 702 847 1778
Email: customercare@sterlingbankng.com
Website: http://www.sterlingbankng.com
- Sterling Bank Plc.
Address: Eterna Oil filling station at Wuse, Abuja.
Phone: 0819 120 5214 and 0819 120 5215