How Sterling Bank expands reach for more retail depositors

 Sterling Bank has began expansion with the opening of new branch at the Adeola Odeku axis of Victoria Island, Lagos, in its determination to enlarge its coast and get more customer to its banking space.

In order to have a smooth expansion drive, it has empowered its fast performing customers, with the most performer getting a brand new SUV reward with others getting some household items, to further push its brand into the larger populace.

Mena Sidahome, regional channel co-ordinator, Lagos Island, believes that the new branch is part of the achievements recorded in the promotional scheme meant to sensitise the customers that “we are here for them and we are here to serve them,” saying the bank plans to have more hobs like the new branch at various strategic places across the network.

“We are looking at about 40 of them in the nearest future within the year. We are looking at taking the bank to the next level, to make it glare, more customer friendly and to make the products more enchanting and attractive to customers. That is what the focus of today’s branch is and every other branch in Sterling Bank, being a one customer bank,” she says.

However, the bank last week at the branch opening presented a SUV to Homa Amadi-Nna, an employee of West Africa Container Terminal Nigeria Limited, Onne, Rivers State, for emerging the winner of the star prize in the just concluded Sterling Bank Savers promo.

According to the star prize winner, “I feel highly favoured. Sterling Bank has shown that it is a good bank. This has confirmed it and I am happy to be a loyal customer. I will promote the bank. I will tell people that if they are loyal they will receive a reward.”

Speaking with journalist immediately after the presentation ceremony, John Akingbade, group head, Bancassurance, said, “Some customers have been with the bank for about 20 to 30 years. They bank with us. They trusted us. We needed to find a way to reward their loyalty for that. We also feel that there are so many people out there who have never had access to banking service and we thought that using this promo we will be able to onboard them on our platform to enable them have access to quality banking service.

“We are delighted today that the winner of the star prize is a new customer and she is excited. We are also happy that she trusted the bank and she banked with us for her to get this grand prize. We also have other customers across the geographical spread of the nation who by this cash prizes take themselves up in various businesses. We are glad to say that we have empowered a number of people. And that is what we also stand for. We stand for empowerment, we stand for supporting people, building people and that is what we have done. And we also pledge that from this you will begin to see more customer loyalty.”

Emmanuel Ekpenisi, regional business executive, South South 2 of the bank, said the whole idea was to encourage customers to save, imbibe the saving culture and also reward them for their patronage and support all the years.

“Incidentally, the winner is from my region, and within the Port Harcourt axis we have enjoyed a very high level of patronage from customers. I am also happy that even though the winners have been spread across geographical locations, that somehow on this occasion we have the winner coming from South South 2. It is something that is encouraging and I think it is the right step in the right direction. For Sterling Bank, it is also good for our image because on all indices, things are looking up for the bank and it can only get better,” he said.