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CBN okays Sterling Bank’s move to restructure as Holding Company

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In its latest disclosure, Sterling bank noted that the Holding Company gives it the structure to explore its business model further.

It said: “The Holding Company is designed to operate on 3 major premises – Specialization, Partnership and Digitization. The Conventional Bank will focus on building skills and using technology to provide solutions in the areas that are critical to development in the country – Health, Education, Agriculture, Renewable Energy, Transportation .

“The overall business will focus on social impact, corporate responsibility and the highest ethical standards in its dealings. Our Digitization drive will create an enabling environment for both financial institutions to grow while providing services and support to build efficiencies in different ecosystems.”

The bank said execution of its plans is fully dependent on interwoven operating model of agility, specialization and digitization. “Essentially, for us to be successful, we require people who are adaptable and knowledgeable running processes that are simple, quick and tech-led to ensure efficiency,” it said.

 

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