Home Business & Economy Sterling wins agric bank of the year award

Sterling wins agric bank of the year award

Barely three months after it was conferred with an award as the Best Bank in Commercial Agriculture Credit Scheme (CACS),Sterling Bank said that it has bagged yet another award in the Agriculture sector as it received the “Agric Bank of the Year 2014 in Nigeria” award.
The award which was powered by the Agriculture Policy Research Network (APRNet) and AgroNigeria Limited was presented to the bank at a dinner and conferment ceremony where President Goodluck Ebele Jonathan also received the award of the grand Transformer of Nigerian Agriculture.  
According to a member of the Organizing Committee for the awards, Richard-Mark Mbaram, Sterling Bank was conferred with the award in recognition of its critical role in the dispensing of financial services to actors in the Nigerian agricultural value chain.
Managing Director/ Chief Executive of the bank, Mr. Yemi Adeola while speaking at the event thanked the organizers of the award for recognizing the various contributions of the bank to the continuous growth of the Agriculture sector in the country.
Mr. Adeola who was represented at the event by the Bank’s Group Head, Agriculture Finance, Mrs. Bukola Awosanya said “Sterling Bank is particularly delighted to receive this Award as the Best Agric Bank in Nigeria in recognition of its commitment to the growth of the Agric Sector. Let me assure all that the Bank will continue to support the sector to ensure that it takes its pride of place in the nation’s economy.
According to him, the commitment of Sterling Bank to the growth of agriculture in Nigeria is legendary. He said, despite the fact that the bank ventured into agriculture finance barely three years ago, it has received a lot of accolades for its involvement in the sector, where it currently ranks among the top three banks.
Sterling Bank Plc has continually restated its commitment to the strategic growth of the Agricultural Sector by providing adequate funding in alignment with the ongoing reforms in the sector aimed at repositioning it as an attractive business proposition, an input provider for the manufacturing sector and a key foreign exchange earner.
To demonstrate its commitment to the growth of the sector,  Sterling Bank in 2014 devoted five percent of its loan portfolio to the sector with a plan to increase this to 10 percent in the coming year. The Bank’s portfolio cuts across the whole agricultural value chain.
The presentation of the Award as the Best Bank in Commercial Agriculture Credit Scheme (CACS) to the Bank by President Ebele Jonathan earlier in the year is a confirmation of its soaring pedigree in the business of agriculture finance in the country.

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