| SunTrust Bank Nigeria Limited | |
| Type: | Private company |
| Genre: | Banking |
| Founder: | Muhammad Jibrin Barde |
| Location City: | 1 Oladele Olashore Street, Off Sanusi Fafunwa Street, Victoria Island, Lagos, Lagos State |
| Location Country: | Nigeria |
| Area Served: | Nigeria |
| Key People: | Olanrewaju Shittu Chairman Halima Buba Chief Executive Officer[1] |
| Industry: | Finance |
| Services: | Banking |
| Revenue: | Aftertax:₦157.87 million (2017) |
| Assets: | ₦26.56 billion (2017) |
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.[2]
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.[3] 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).
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).[4]
SunTrust was incorporated and founded in 2009 by Chief Executive, Muhammad Jibrin Barde as a mortgage bank and later converted to a commercial Bank. It 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.[5] The bank opened for business to the public on 15 August 2016.[6] It is also the first full-fledged technology bank in Nigeria.[7]
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.[8]
In 2024, the bank was listed by the Central Bank of Nigeria to be among the licensed regional Deposit Money Banks (DMBs) functioning in Nigeria.[9] [10]
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.[11]