The rating of Sterling Bank Plc as one of the top 100 banks in the world, number three in Africa and the Best Bank in Nigeria by Lafferty Group, an international rating Agency has attracted commendation from customers of the Bank who described it as a recognition of excellent service delivery and support for the growth of the Nigerian economy.
The rating is based on key quantitative and qualitative criteria such as strategy, culture, customer care, brand promise and financial performance.
A cross section of the Bank’s customers who spoke with our reporters in Lagos, noted that the rating would further reinforce their confidence in the Bank as it has become a major player globally in terms of provision of customer oriented products and quality service delivery.
They also noted that the activities of the Bank in the Education sector, Sports, Agriculture, Environment, support to the growth of small businesses to mention a few may have influenced the high rating of the Bank.
A customer who is a major player in the automobile industry but spoke on the basis of anonymity noted that the rating of the Bank among the top global financial institutions and the best in Nigeria did not come to many as a surprise based on the value the Bank has brought to bear on the sustainable growth of businesses owned by their customers.
His words: Since l started banking with Sterling Bank, l have seen a lot of difference in terms of value addition to my business and l was convinced that the Bank will go places. Apart from providing funds, the Bank goes a step further to provide free professional advisory services that is second to none in the industry just to ensure the growth of the their customers’ businesses.”
Another customer who spoke at the Adeola Odeku branch of the Bank stated that with the rating, Sterling Bank has established the fact that provision of quality services is not about size “but on how resourceful your personnel are and what you can bring to the table to support the growth of your customer’s business. Sterling Bank offers personalized services that you cannot get in most financial institutions in the country and l am happy that this has been recognized by an international rating agency. ”
Gbolahan Bello, an entrepreneur who took part in the first Medium, Small and Micro Enterprises, MSME, Workshop organized by the Bank in Lagos noted that, “a Bank that deemed it fit to organize a workshop to train small business owners on how to grow their businesses cannot be ignored because small businesses all over the world are the bedrock of the economy. So the rating is well deserved and Sterling Bank must be commended for this feat.”
Yemi Adeola! managing director/chief executive officer of the bank, while commenting on the rating said: “Our Bank has remained resilient in a turbulent operating environment; and Lafferty Bank Quality Ratings has provided an objective view on the fundamentals of our business, by rating us 10th in the world, top 3 in Africa (after Capitec and Barclays Africa) and the top bank in Nigeria. In spite of both regulatory and macroeconomic headwinds, we have maintained strong capital and liquidity positions. I am pleased that an external and independent party has validated the Bank’s reputation as a well-run, sustainable institution which further lays credence to our valuation in the equities market relative to competition”.
The bank’s MD has also reiterated that the bank will remain committed to building a strong brand with a pervasive culture of innovation, good corporate governance and excellent service delivery.