SunTrust Bank Nigeria Limited
# SunTrust Bank Nigeria Limited

SunTrust Bank Nigeria Limited (STBNL), is a Nigerian financial services provider, licensed as a commercial bank, by the Central Bank of Nigeria, the central bank and national banking regulator.

## Location

The headquarters and main branch of this bank are located at 1 Oladele Olashore Street, Off Sanusi Fafunwa Street, on Victoria Island, Lagos, Lagos State, Nigeria. The geographical coordinates of the bank's headquarters are: 06°25'50.0"N, 03°25'38.0"E (Latitude:6.430556; Longitude:3.427222).

## Overview

As of 31 December 2017, SunTrust Bank Nigeria Limited had total assets of ₦26.56 billion (approximately US$74.24 million), with shareholders' equity of ₦10.61 billion (approximately US$29.7 million).

## History

SunTrust was incorporated and founded in 2009 by Chief Executive, Muhammad Jibrin Barde as a mortgage bank and later converted to and was granted a regional commercial banking license by the Central Bank of Nigeria in November 2015, being the first commercial bank to receive a banking license since 2001, bringing the total of licensed commercial banks in Nigeria, at that time, to twenty-three. The bank opened for business to the public on 15 August 2016.

In April 2018, STBNL was awarded the ISO/IEC 20071:2013 Certification by the Professional Evaluation and Certification Board (PECB), a Canadian certification body. At the same time, it was awarded the Payment Card Industry Data Security Standard (PCIDSS), by Digital Jewels, an IT consulting firm, focusing on IT governance, risk & compliance in Information Security, Information Assurance and Project Management.

## Branches

As of August 2016, the bank maintained brick-and-mortar branches and automated teller machines in Lagos, Abuja, Uyo and Port-Harcourt. At that time, 90 percent of the bank's customers transacted business on digital platforms, without visiting any physical branch.

