The management of SunTrust Bank Limited, one of the recently licensed commercial banks in the country officially opened its doors to customers on Monday 15, August 2016. The bank has a regional banking licence.
Speaking at the opening ceremony which attracted top government officials, politicians as well as traditional rulers in Lagos, the Chief Executive Officer of the bank, Mr. Muhammad Jibrin, said the bank was the first fresh banking licence to be issued by the Central Bank of Nigeria (CBN) since 2001.
Jibrin said SunTrust Bank started about six years ago as a mortgage bank, adding that the board and management were able to grow its balance to a reasonable size before they decided to pursue a commercial banking licence from the CBN which they got in September last year.
He said the bank would be a financial technology institution that would focus electronic channels by offering telephone, mobile and internet banking services.
