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Old July 4th, 2016, 02:16 PM
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Old May 20th, 2017, 11:55 AM
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Hi I would like to have the profile of the Standard Chartered Bank Nigeria as well as the important points of the bank as well as the Board of Directors?
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Old May 20th, 2017, 11:57 AM
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In 1965, the Standard Bank of South Africa converged with the Bank of West Africa securing organizations incorporating a keeping money operation in Nigeria, which gone back to 1894. The name was then changed to Standard Bank of West Africa. Four years after the merger, Standard Bank Nigeria was fused locally to assume control over the business in Nigeria.

Standard Chartered re-entered Nigeria in 1999 and opened to clients on 15 September 1999 as a completely claimed auxiliary of Standard Chartered Bank Plc, headquartered in United Kingdom.

Today, the Bank offers an extensive variety of items and administrations in Retail; Wealth Management; Commercial; Corporate and Institutional; Private and Transaction Banking business. Standard Chartered utilizes more than 905 staff and considers Nigeria to be a development focus. There are around 40 branches, with ATMs in each branch, situated in Lagos, Port Harcourt, Abuja, Ibadan, Kano, Kaduna, Ota, Aba, Onitsha and Onne. The new ultra-present day Nigeria Head Office was opened in 2014.

Proof Points

Nigeria is a very attractive and fast growing market for Standard
Chartered Bank Nigeria (SCBN)

Banking sector reforms are a core part of Nigeria’s broad economic
restructuring programme. In Q4 2005, the Standard Chartered Group injected
US$147m in new equity to meet the minimum capital requirement of
US$185m – recognition of the importance of SCBN to the Group franchise

The organic growth strategy of SCBN is delivering substantial growth in
profitability. Despite the challenges in the external environment, SCBN has
consistently achieved stunning results due to best-in-class cost management
and strong asset book management

The Bank is committed to achieving profitable growth in its core
businesses which include Corporate and Institutional Banking (CIB), Retail
Banking (RB) and Commercial Banking (CB)The Corporate and Institutional
Banking (CIB) business in Nigeria consists of the Relationship Management
and Client Coverage teams, supported by the Client and On-Boarding
Management (COBAM) team and product partners in Transaction Banking,
Financial Markets, Corporate Finance and Capital Markets.

CIB business leverages on the bank’s international footprint in offering
tailored products to meet clients’ needs. These include trade, cash
management and custody which are available on the Bank’s robust
Straight2Bank platform. The business also has a strong reputation for
providing best-in-class FX and derivative solutions.

CIB capitalizes on local knowledge and product expertise to deliver
Corporate Finance and Capital Market solutions. Leveraging on our core
capabilities, notable transactions have been in executed in key sectors of the
economy including Oil and Gas, Telecoms and FMCG as well as Financial
Institutions. This has strategically positioned the Bank to deepen
relationships with core clients and contribute towards the development of key
sectors of the economy. We continue to be Here for Good and Here for
Africa.

The Commercial Banking (CB) team commenced in-country operations in
the second half of 2015 and offers trade, cash, FX and lending solutions to
mid-sized companies of annual turnover of between $10million and
$1.5billion. The CB business is a combination of Local Corporates, Middle
Markets and SME businesses.

Key focus sectors of the CB business are manufacturing, oil services,
telecoms, information technology, trading companies/distributors and
exports.

CB manages the Banks Ecosystem penetration initiatives and strategically
covers key Nigerian cities with teams of relationship managers.

In conjunction with the Corporate finance team, CB is able to provide
tailor made debt or equity solutions to her client mix

Retail Banking’s (RB) strategy is to Bank all our individual clients
throughout their life journey, from college loans and mortgages to wealth
management and retirement. For Business Clients, we are supporting their
journey from lending and cash management to trade.

RB’s business drive along its various segments: Business Clients, Priority
Clients and Personal Clients continues trend at an upward trajectory.

While the majority of the Bank’s Trading Profit is generated by CIB,
momentum in our other businesses is excellent and continues to grow.

Standard Chartered Mobile - our mobile banking app continues to provide
our customers with convenient, secure, anytime, anywhere Banking

We have maintained strong cash management capabilities to ensure that
this critical aspect of our clients’ businesses is met effectively in what
remains essentially a cash based and cash driven society

We continue to lead the way in the upstream oil industry, having led and
advised on most of the major upstream deals in the market in the past three
years.

We believe in the development of the Financial Services Industry and
actively support our regulators and the government. We participate in the
Nigeria Bankers’ Committee Sub-Committee on Economic Development which
is working with stakeholders to increase the contribution of banks to the
development of the real sector of the economy

ISO Certification – we were one of the first banks in Nigeria to get
certified

SCBN takes pride in its successful mentoring programme for staff and
aggressively manages talent using a whole raft of initiatives which include
cross-functional moves, internal job watches, organization learning
interventions and attachments within and outside of Nigeria. We continue to
invest in our people, massively multiplying our leadership capacity which has
culminated in key leadership positions across the Group being occupied by
local talent.

We have also developed a ‘pay for performance’ culture and for the last
few consecutive years, enjoyed one of the lowest critical staff turnovers in
the industry - a testament to our staff engagement culture. By combining
global capability with deep local knowledge and creativity we are positioned
to outperform our competitors

SCBN has created a significant presence in Nigeria where we are one of
the country’s most respected financial institutions. We consistently
strengthen our operational risk framework which has reduced operational
losses to record lows in the past few years

We continue to balance the pursuit of our growth with firm control of costs
and risks


Board of Directors

Sir Festus Oluremi Omotoso (MFR) - Chairman

Bola Adesola - MD/CEO, Nigeria

Alhaji Muhammed Imam Yahaya (OFR)

Yemi Owolabi - Executive Director, Finance

Sola Adepetun - Independent Non-Executive Director.

Sunil Kaushal - Regional Chief Executive, Africa and Middle East, Standard Chartered Bank

Louise Vogler - Regional Credit Officer, CIB & CB Africa

Mansa Nettey - Executive Director and Head, Financial Markets, Ghana

Seye Kosoko - Head, Legal and Company Secretary

Contact:


Standard Chartered Bank
Head Office
142 Ahmadu Bello Way, Victoria Island, Lagos State
Tel: +234-(0)1-270 0025, 270 4600
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