It’s a new year and a new logo for Sterling Bank

Sterling Bank new logo, BADEA

It’s a new year and again Sterling Bank Plc has made a controversial move. The commercial bank has changed its logo from ‘aiming for moon’ to ‘rising sun’. This new logo, though cycles, is similar to GTBank’s logo where there is a small square at the top right inside a bigger square.

This bank’s change of logo was announced in a series tweets on Sterling Bank’s Twitter handle.

Bua group

In a statement made available to the public, Sterling Bank said the logo evolution is to align the brand with the current strategic positioning of the bank.

Following the unveiling of its new logo, Sterling Bank was suspected to have made another controversial move which awaits to set both the media space and financial sector on fire.

What Nigerians are saying

Some social media users have taken to Twitter to express their thoughts on the move to change logo by Sterling.

Revealing the rationale behind the new logo, Sterling Bank said the new logo reflects its progression from traditional banking to a new and agile force that delivers forward-moving disruptive solutions.

According to the bank, it also represents its journey from “Aiming for the Stars” to becoming “The Rising Sun”.

Prior to this, Sterling Bank had ignited a ‘tweet war’ with rival Nigerian banks. The tweet ignited tweet responses from rival banks and had engulfed twitter Nigeria with many seeing the fun side of the banter.

The tweet read, “Shoot for the moon, become a star – it’s the least you deserve.”, including graphics showing a person, perhaps a customer, on a spaceship shooting for the moon. In this case, the moon is a Sterling Bank logo.

Sterling Bank, however, apologised for the subtle banter tweet. In a tweet posted, the bank “tendered its unreserved apology to all banks the likeness of whose logos and buildings featured in the referenced tweet.”

Meanwhile, Sterling Bank has been able to record significant growth in recent times. According to its financial statement for the third quarter of 2018 period ended September 31st, revenue grew from N95 billion to N115 billion; representing a 21.09%.

In the same vein, profit after tax increased by 38.1% from N5.9 billion in 2017 to N8.2 billion.

Sterling Bank Plc’s stock is currently trading at N1.97 on the Nigerian Stock Exchange (NSE).

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