Sunday, November 2, 2014 3:35 pm
Sterling Bank has opened 10 new branches nationwide and embarked on the remodeling of about 40 to reflect its retail positioning and tush up its operations. The new branches are located in Festac Town, Owode Onirin, a retail market that deals with motor spare parts along Ikorodu Road, Itire, and Awoyaya all in Lagos. Others are the NNPC Depot in Mosimi in Ogun State, Eziukwu in Abia, Birin-Kebbi in Kebbi, Rumuola and Onne in Port Harcourt, Rivers State and Bank Road in Ekiti.
Mr. Shina Atilola, the bank’s Group Head, Strategy and Communications said the new branches are additions to the bank’s expanding branch network in the country just as more locations will be added in the coming months to enable it achieve its 200 mark before the end of the 2014 financial year. The Bank’s total branch network currently stands at 175.
He added that the bank’s on-going branch expansion is part of its strategy to expand its operations and branch network across the country to enable the bank deploy its services to all parts of the country and leverage on this to successfully increase its share of the retail end of the market.
The new branch locations, according to Atilola will serve both retail and wholesale banking customers with a comprehensive range of products including the traditional banking products and services with an emphasis on technology driven products/services delivered through an on-line real-time technology platform already put in place by the Bank.
The Bank’s Chief Strategist said that the Bank planned to develop a robust service delivery network comprising the traditional “brick and mortar” branches and alternative delivery channels like the ATMs. He expressed his confidence that the Bank would achieve the 200 branch network target it has set for 2014.
He said: “Our intention is to have in place by the end of this year about 200 functional branches spread across the country to enable us to adequately reach our customers. The business locations also have adequate ATMs to ensure that customers are well served without delay by providing an “all day” service availability”.
He explained that just like other business locations, the opening of additional branches by the Bank would be based strictly on perceived customer-centric demands and financial aspirations that would meet the banking needs of our numerous clients and prospects across the country. These branches are also equipped with state-of-the-art technological resources to create an online real-time banking environment.
He added: “With the sharp increase in the volume of the Bank’s customer base its retail drive and enhanced corporate and commercial banking services, the opening of vital channels by way of branches has become necessary and will remain a continuous process as the bank targets market leadership through symbiotic partnerships with her numerous customers