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Tag: Sterling Bank

Sterling Bank raises salaries again amid intense talent war in banking sector
News

Sterling Bank raises salaries again amid intense talent war in banking sector

Sterling Bank has announced a significant salary increase for its over 3,000 employees, with entry-level staff—executive trainees—now earning a net monthly salary of ₦528,000, up from around ₦320,000. This represents a pay rise of more than 35% across multiple roles, following a modest 7% salary adjustment in January that left many employees dissatisfied. The move […]

Sterling Bank increases salaries by 7%
News

Sterling Bank increases salaries by 7%,

Sterling Bank has implemented a salary raise for its over 3,000 employees to address the rising cost of living and inflation. Sources confirm the adjustment, approximately 7%, was announced via an internal memo in early January 2025. This development aligns with a broader trend in Nigeria’s banking sector, where institutions are reviewing compensation structures to […]

Business

Sterling Bank, SMEDAN partner to launch data platform

Sterling Bank and the Small and Medium Enterprises Development Agency of Nigeria have developed Databanc, a website that provides data on Nigerian businesses as well as a single-digit loan scheme worth N5 billion. This disclosure was made in a statement by the bank on Wednesday stating that Databank delivers insights that will be used by […]

SMEDAN, Sterling Bank launch N5bn loan scheme for small businesses
News

SMEDAN, Sterling Bank launch N5bn loan scheme for small businesses

The Small and Medium Enterprises Development Agency of Nigeria and Sterling Bank Ltd. have launched Databanc, a N5 billion program to help small enterprises bridge financial gaps. This was disclosed on Monday by SMEDAN’s at the event themed “Building with Data: Promoting Economic Growth through Data-Driven Insights,” according to Nairametrics. The program, which aims to […]

Sterling GMD, directors acquire N514m new shares
Banking

Sterling GMD, directors acquire N514m new shares

The Sterling Financial Holdings Company Limited’s directors have persisted in buying up their shares, demonstrating their belief in the financial institution’s ability to survive. The Punch reported that the most recent insider trading transactions made by four of the Holding Company’s directors, including the  Group Managing Director and Chief Executive Officer of Sterling Financial Holdings Company Plc, […]

Odubiyi acquires 100m shares of Sterling Holdco
Banking

Odubiyi acquires 100m shares of Sterling Holdco

The Group CEO of Sterling Financial Holdings Company Plc, Yemi Odubiyi, has acquired an additional 100 million shares in the company worth N354 million. This information can be found in a notice of director’s dealings sent to the Nigerian Exchange Limited and signed by company secretary Temitayo Adegoke. 100 million shares were purchased, or 0.35 percent […]

Sterling Bank CEO acquires 50m additional shares
Banking

Sterling Bank CEO acquires 50m additional shares

The chief executive officer of Sterling Bank, Abubakar Suleiman, has bought N168 million for 50 million shares of Sterling Financial Holdings Company Plc. The Punch reported that this information was provided in a corporate notice on directors’ transactions that was submitted on Friday to the Nigerian Exchange Limited. Suleiman, a non-executive director of the HoldCo, purchased […]

Sterling GMD, directors acquire N514m new shares
Business

Sterling Bank, LASHMA expand healthcare coverage in Lagos

As a result of the partnership between the Lagos State government and Sterling Bank, residents of Lagos will soon be able to access high-quality healthcare services close to home. In order to facilitate easy access to healthcare services for the city’s busy citizens, the financial institution is supporting the construction of a few Ilera Eko Virtual Booths […]

Banking

10 banks raked in N1.57tn interest income in 2021 – Reports

Ten Deposit Money Banks in Nigeria earned a total of N1.57tn in net interest income last year, up from N1.49tn as of December 31, 2020. They are Union Bank Plc, Stanbic IBTC, Fidelity Bank Plc, Sterling Bank, Wema Bank, First City Monument Bank, Access Bank Plc, Guaranty Trust Bank, United Bank of Africa and Zenith […]

Banking News

10 banks lend customers N2.9tn in 12 months

Between December 2020 and December 2021, the combined loan portfolio of 10 Deposit Money Banks in Nigeria rose by N2.9tn, data collated from their audited financial statements show. The banks are Stanbic IBTC, Fidelity Bank Plc, Sterling Bank, Wema Bank, First City Monument Bank, Access Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa […]