Sterling Bank Plc is a Nigerian commercial bank popularly known for its slogan, ‘Your one-customer bank’. Sterling bank provides full financial services in Nigeria.
Sterling bank has been in operation for over 50 years. It used to be called NAL Bank. The bank has now evolved from an investment bank to a fully-fledged commercial bank. It has also successfully merged with 4 other banks in the course of its operations. The merge was a part of the 2006 consolidation of the Nigerian banking industry.
The banks Sterling bank merged with are:
Indo-Nigeria Merchant Bank
Magnum Trust Bank
NBM Bank
Trust Bank of Africa.
History of Sterling Bank
1960 – Establishment
In 1960, Sterling Bank began operations in Nigeria, under the name ‘NAL Bank’. NAL Bank was one of the most outstanding investment banking institutions in Nigeria.
1969
NAL bank was licensed as Nigeria’s first merchant bank.
1972 – Nationalization
Following the Nigerian Indigenization Decree of 1972, Sterling bank became a government-owned institution.
1974 – Partnership
In 1972 – 1992, Sterling Bank was in partnership with four other banks, which are: Grind lays Bank Limited, Continental International Finance Company Illinois and American Express Bank Limited
1992 – NSE Listing
In 1992, Sterling Bank was partly privatized and listed as a public company on the Nigerian Stock Exchange (NSE)
2000 – Privatization
In 2000, Sterling bank became fully privatized as the government sold its residual interest in the bank.
2006 – First Merger
In January 2006, as part of the consolidation process of the Nigerian banking industry by the Central Bank of Nigeria, NAL Bank was successfully merged with four other Nigerian Banks which are; Magnum Trust Bank, NBM, Trust Bank of Africa and Indo-Nigeria Merchant Bank (INMB).
These four banks were merged successfully and operated as a consolidated group under the name Sterling Bank.
2012 – Second Merger
In 2012, Sterling bank had a second merger wherein in the bank assimilated the entire business interest of Equatorial Trust Bank (now defunct). This merge effectively enhanced the position of Sterling bank in the hierarchy of respectable players in the Nigerian banking industry. Sterling bank became a key competitor and began to be ranked with other top banks in the financial sphere.
After the Central Bank of Nigeria repealed universal banking in the country’s banking sector, Sterling Bank began operating as a national commercial bank. It thus disposed of holdings in subsidiaries and affiliate companies.
Sterling bank trades its shares on the Nigerian Stock Exchange with the symbol STERLNBANK.
On Reuters and Bloomberg terminals, Sterling bank trades under the names, STERLNB.LG and STERLNBA: NL respectively. Sterling bank provides services to all sectors that is individuals, small businesses (SMEs) and large corporations.
As of December 2018, Sterling bank’s branch network were numbered at 179, distributed throughout the country. The bank’s total assets were valued in excess of NGN1 trillion and shareholders’ equity estimated at about NGN97.8 billion.
Operations of Sterling bank
The Bank’s operations and products are grouped in four categories, which are:
Retail & Consumer Banking: under these are several initiatives such as Agent Banking
Micro-credit: This product is targeted towards youths
Specta: an automated retail lending platform
Commercial Banking: Sterling bank offers commercial services in various sectors
Institutional Banking: Offering advisory & collection services for government parastatals
Corporate banking which covers several sectors including Telecommunications, Power and Steel, Food and Beverages among others.
Currently, Sterling bank operates from its Head Office located at Number 20 Marina, Lagos. Sterling Bank has a total of 7,853 POS terminals and about 847 ATMs across the country
Specialized services
Private Banking and Wealth Management
Sterling Bank offers specialized services to High Net Worth individuals through their Private Banking and Wealth Management arm. Products under this category include Trust and Fiduciary Services, Philanthropy Management, Investment Advisory.
Sterling Alternative Finance (Non-Interest Banking)
In 2013, Sterling Bank was licensed by the Central Bank of Nigeria to provide non-interest banking services after it had met with the set criteria. Banking products under Sterling Non-interest banking are: Transactional, Investment, and Financing
Social responsibility
The Bank carries out corporate social responsibility in various areas, such as: education, environment, health, empowerment, sports development, capacity building.
This article covers a list of Sterling Bank branches located in Abuja, the Federal Capital Territory. Read on below:
List of Sterling Bank Branches in Abuja.
Sterling Bank Wuse branch
Address: Plot 603, Kashim Ibrahim Way at Wuse 2, Abuja.
Phone: +234 9 5237535, 5238890, 5233461
Website: https://www.sterlingbankng.com/
Sterling Bank Garki Branch
Address: Gateway Plaza, Plot 208, Zakariyahu, Mai-Malari Street, Off Hebert Macaulay Way, Central Business District, (CDB) Garki, Abuja.
Phone: +234 9 2349714, 2349702, 2349739
Website: https://www.sterlingbankng.com/
Sterling Bank Garki II Branch
Address: Plot 21/11 on Emeka Anyaoku Street, Area 11, Garki, Abuja.
Phone: +234 1 2346345, 2346473
Website: https://www.sterlingbankng.com/
Sterling Bank Kado branch
Address: Conoil Premises, Kado, Abuja.
Phone: +234 9 7818467
Website: https://www.sterlingbankng.com/
Sterling Bank Asokoro Branch
Address: Suite 013 at New Building House of Reps, National Assembly Complex, Asokoro, Abuja.
Phone: +234 9 7830725
Website: https://www.sterlingbankng.com/
Sterling Bank Utako Branch
Address: Conoil Station, Utako, Abuja.
Phone: +234 (0) 709 810 9036, 705 539 3803
Website: https://www.sterlingbankng.com/
Sterling Bank Plc.
Address: Plot 700, Seda Close, Off Tafawa Balewa Way at Area 8, Garki, Abuja.
Phone: +234 9 8706132, (0) 702 847 1876
Email: customercare@sterlingbankng.com
Website: http://www.sterlingbankng.com
Sterling Bank Plc.
Address: Number 450, Kontagora Close Area 3 at Garki, Abuja.
Phone: +234 9 6723514, 8709994, (0)702 847 1803, 702 847 1768
Email: customercare@sterlingbankng.com
Website: http://www.sterlingbankng.com
Sterling Bank Plc.
Address: Block T,16, Samuel Akintola Boulevard at Area 11, Garki, Abuja.
Email: customercare@sterlingbankng.com
Website: http://www.sterlingbankng.com
Sterling Bank Plc.
Address: SB 67 National Assembly Complex on Three Arms Zone, Abuja.
Phone: +234 (0) 7028471878
Email: customercare@sterlingbankng.com
Website: http://www.sterlingbankng.com
Sterling Bank Plc.
Address: Number 5, Adetokunbo Ademola Street, Wuse, Abuja.
Phone: +234 (0) 702 847 1778
Email: customercare@sterlingbankng.com
Website: http://www.sterlingbankng.com
Sterling Bank Plc.
Address: Eterna Oil filling station, Wuse, Abuja.
Phone: +234 (0) 819 120 5214, 819 120 5215
Email: customercare@sterlingbankng.com
Website: http://www.sterlingbankng.com