• Sunday, February 25, 2024
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BusinessDay

Sterling Bank gets risk award

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For efficiently and consistently managing its risks, Sterling Bank plc has been honoured in the Banking and Investment Services category of the prestigious Nigeria Risk Award (NRA).

The award, according to a statement from the bank, is organised by Conrads Clark Nigeria (CCN) Limited, a UK affiliated institution in conjunction with Institute of Risk Management UK to reward organisations with impressive Enterprise Risk Management practices in Nigeria.

The umpire affirmed that ‘Sterling Bank was being honoured with the award based on its upscale risk management practice. This, according to the institution, has led to significant contribution to the entrenchment of a risk management culture within the bank and a commitment to a sound, safe and stable financial institution.

The lender said it was issued the Payment Card Industry Data Security Standard (PCIDSS) certification on February 8, 2013. According to the Qualified Security Assessor (QSA), Sterling Bank remains the only bank that has achieved the fastest turnaround time between the project commencement and obtaining certification. This, according to the statement, is achieved within a remarkable six-month period.

“This certification attests to the security of card related transactions of Sterling Bank as one of the safest in the banking industry,” the statement noted.

According Joachim Adebayo Adenusi, managing director, CCN, who spoke at the presentation of the award, the medal process was very rigourous, transparent and professionally handled by eminent risk managers selected from different parts of the world.

Sterling Bank is one of the leading and fastest growing commercial banks in Nigeria.