By Olumide Iyanda
Managing Director and Chief Executive Officer of Sterling Bank Plc, Mr. Yemi Adeola, was at the weekend rewarded for his sustained efforts aimed at positioning the bank as a reference financial institution in the country and as a major player in the Nigerian Stock Exchange (NSE) as he was conferred with Outstanding CEO Award.
The award was instituted by BuisnessDay Media Limited last year to identify, reward and celebrate chief executives behind the success stories recorded by their institutions in the Nigerian economy.
Twenty-four other chief executives of companies quoted on the NSE were also conferred with the award at an elaborate event held at the Wheat Baker Hotel, Ikoyi, Lagos at the weekend.
The organisers in a statement signed by its chief executive, Mr. Frank Aigbogun, explained that despite the lull in the economy especially in the 2014 financial year, the chief executives of the companies recognised, added over N333 billion to shareholders funds and realized N107.1 billion as profit after tax as at the end 2014 compared with N66.8 billion realized in the corresponding period of 2013.
“It is to this effect that we celebrate these men and women who have contributed to the successes recorded by their companies and the Nigerian economy in general in 2014,” the company noted in the statement.
In his vote of thanks after receiving the award, the Sterling Bank boss commended the organisers for instituting the award and commended them for taking the pains to analyse the financials of the companies assessed and for coming up with the list of winners who have indeed contributed to the growth of their institutions and the economy by extension
Mr. Adeola who was represented at the ceremony by the Bank’s Executive Director, Commercial & Institutional Banking, Mr. Lanre Adesanya, assured that Sterling Bank will continue to sustain its growth pattern through the adoption of the right strategy and leverage on its highly skilled workforce to continue to deliver quality products and services to its increasing customer base.
The Sterling Bank story is one that is characterised by institutional resilience and bold steps. From its emergence as the pre-eminent investment bank in the country in 1960, through the 2006 banking industry consolidation exercise and the acquisition of the business interest of the defunct Equitorial Trust Bank in 2011, the Bank has consistently demonstrated its capacities to withstand regulatory and macro-economic headwinds. The Bank continues to deliver double digit growth (above industry average) along key financial metrics.
