Sterling Bank Plc has announced the appointment of Folasade Kilaso and Michael Onochie Ajukwu as Non-Executive Director and Independent Non-Executive Director respectively. The bank disclosed this in a notice to the Nigerian Stock Exchange (NSE).

MS Kilaso is the managing partner at Berkeley Legal and Managing Director at Berkeley Training Recruitment and Services Limited.

She has over 25 years experience in Legal, Compliance, Company Secretariat, Human Resources and General Management.

From July 1993 to December 1993 she was the in-House Counsel at General Portfolio Group Plc. She then moved to Gartmore Investment Management (A subsidiary of Natwest Bank Plc).

Folasade Kilaso also worked in Standard Chartered Bank where she held different positions culminating in her appointment as the Executive Director, Human Resources in December 2007.

She graduated from the University of Kent, with a BA in Law and the University of Cambridge with an LL.M in International Corporate Law and Finance.

Michael Ajukwu worked for 21 years in the Nigerian banking industry before retiring from the United Bank of Africa (UBA) Plc as an Executive Director. He holds a B.Sc in Finance from the University of Lagos and a Masters in Business Administration (MBA) from the New York University.

Ajukwu has been on the boards of Tiger Brands Limited since 2015, and was last month appointed to the board of International Breweries Plc following its merger with Intafact Beverages Limited.

Sterling Bank is currently trading at N1.46 in today’s NSE trading session. Year to date, the stock is up 35.19%.

Results for the first quarter ended March 2018 show interest income increased from N25.3 billion in 2017 to N31.8 billion in 2018. Profit before tax rose from N2 billion in 2017 to N3.1 billion in 2018. Profit after tax also increased from N1.8 billion in 2017 to N3.1 billion in 2018.

The bank in May this year unveiled its 2017-2021 strategic plan.

About Sterling Bank

Sterling Bank Plc, (formerly known as NAL Bank Plc) was the pioneer merchant bank in Nigeria. It was established on 25 November 1960, as a private limited liability company, and was converted to a public limited liability company in April 1992.

NAL Bank Plc, NBM Bank Limited, Magnum Trust Bank Plc, Indo Nigeria Bank Limited and Trust Bank Limited combined their businesses to form Sterling Bank in response to the banking consolidation.

The combined entity was listed on the Nigerian Stock Exchange (NSE) on the 13th of September 2006.

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