Home News Sterling Bank emerges tops at Risk Management Award

Sterling Bank emerges tops at Risk Management Award

LAGOS (Sundiata Post) – In recognition of its excellent risk management practices, Sterling Bank was conferred with the award for the Best Bank in Nigeria in the Banking and Investment Services category of the Nigeria Risk Award (NRA) for 2015. The award was presented to the bank at Nigerian Economic & Social Risks Summit which held in Lagos.

Sterling Bank beat other banks, insurance companies and other players in the financial services sector that submitted entries to win the Risk Award.

The bank’s executive director, finance & strategy, Mr. Suleiman Abubakar, assured that the bank would continue to put the necessary structures in place to ensure adequate risk management in the Bank and serve as a reference in risk management practice in the industry.

“Sterling Bank is committed to best practice in risk management. This informs why we have continued to fortify our Risk Management team and provide adequate training programmes to ensure that they are up-to-date in current risk management practices worldwide.”

The award, Abubakar further said, would serve as a morale booster for the Bank to further improve its risk management processes and sustain its leadership position; adding that the Award is based on the Bank’s commendable risk management practices and the entrenchment of a risk management culture within the Bank. “Over the years Sterling Bank has demonstrated its commitment to a sound, safe and stable financial institution through efficient management of risk”, Suleiman noted.

This award came shortly before the bank’s 54th Annual General Meeting (AGM) billed to hold next week Tuesday, April 19, 2016 in Lagos.

According to a statement signed by Sterling Bank’s Company Secretary, Justina Lewa,  a key item on the agenda for the AGM is the proposed dividend of N2.6 Billion which if approved would be paid to the expectant shareholders. The dividend represents a 50 percent increase over the sum approved and paid to shareholders at the end of the 2014 financial year.

The Joachim Adenusi-led Conrad Clark Nigeria (CCN) Ltd, organisers of the event, said the award is the pioneer dedicated risk management award for enterprise risk management activities in Nigeria. The organization which is affiliated with the Institute of Risk Management, United Kingdom was set up to recognise organisations with impressive Enterprise Risk Management practices in the country.
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