November 2011

Investor Relations
This presentation has been prepared by Sterling Bank PLC. It is intended for an audience of professional and institutional

investors who are aware of the risks of investing in the shares of publicly traded companies.
The presentation is for information purposes only and should not be construed as an offer or solicitation to acquire, or dispose

of any securities or issues mentioned in this presentation.

Certain sections of this presentation reference forward-looking statements which reflect Sterling Banks current views with respect to, among other things, the Banks operations and financial performance. These forward-looking statements may be identified by the use of words such as outlook, believes, expects, potential, continues, may, will, should, seeks, approximately, predicts, intends, plans, estimates, anticipates or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Sterling Bank believes these factors include but are not limited to those described in its audited Annual Report for the financial year ended December 31, 2010. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. Sterling Bank undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

1
2 3 4

Macro-economic & Market Trends

Performance Review Business Case for ETB Acquisition Strategic Outlook

Macro-economic & Market Trends

Economic Indices
Bonny Light Spot Prices FOB ($/Barrel)
140.0 120.0 100.0 High: 29 July, 2011 $120.0 Close 30 Sep, 2011 $108.9

Nigeria Consumer Price Index / Inflation Rate

CPI
14.0 12.0

Open: 1 July, 2011 $110.2 Low: 12 Aug, 2011 $108.1

10.0 8.0 6.0 4.0 2.0

80.0
60.0 40.0 20.0 0.0 Mar-10 Mar-11 Feb-10 Feb-11 Jun-10 Sep-10 Nov-10

Jun-11

Jul-10

Jul-11

May-10

May-11

Oct-10

Dec-10

Aug-10

Aug-11

Sep-11

Jan-10

Jan-11

Apr-10

Apr-11

0.0 Jan-11 May-11 Dec-10 Mar-11 Feb-11 Jun-11 Jul-11 Aug-11 May-11 Jun-11 Jul-11 Sep-11 Aug-11 Sep-11 Apr-11

Nigeria Oil Supply: 5-year Range mb/d

2.4
2.3 2.2 2.1 2.0

Nigerian Naira / US Dollar Average Exchange Rate

2010 2011
160 158 156 154 152 150 148

2008

2009

Exchange rate

1.9
1.8 1.7 1.6 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan

146
144 Nov-10 Jan-10 Mar-10 May-10 Jan-11

Dec-10

Aug-10

Mar-11

Feb-10

Sep-10

Feb-11

Jun-10

Apr-10

Jul-10

Oct-10

Apr-11

Funding Ecosystem (Industry)

Central Bank of Nigeria Monetary Policy Rate (MPR)
9.50% 9.00% 8.50% 8.00% 7.50% 7.00% 6.50% 6.00% 5.50% 5.00%
Jan 2011 Feb 2011 Mar 2011 Apr 2011 May 2011 Jun 2011 Jul 2011 Aug 2011 Sep 2011

Nigerian Interbank Offer Rate (NIBOR)

16% 14% 12%

10%
8%

6%
4%

2%
0%
Jan 2011 Feb 2011 Mar 2011 Apr 2011 May 2011 Jun 2011 Jul 2011

Call 7-day 30-day 60-day 90-day 180-day 360-day

Aug 2011 Sep 2011

Deposit Taking & Lending

Inter-bank call rate Savings Deposite Rate Prime Lending Rate Max Lending Rate

Deposit Taking Fixed Deposit

30-day 90-day 180-day 360-day

6% 5% 4% 3% 2% 1% 0%

25.00%

20.00%
15.00% 10.00% 5.00% 0.00%

Jan 2011

Feb 2011

Mar 2011

Apr 2011

May 2011

Jun 2011

Jul 2011

Aug 2011

Sep 2011

Jan 2011

Feb 2011

Mar 2011

Apr 2011

May 2011

Jun 2011

Jul 2011

Aug 2011

Sep 2011

Share Price Chart

Share Price Trend
4.00 3.00 2.00 1.00 0.00

4Jan, 2011 N2.40

1Jul, 2011 N1.84

Low: 28 Sep, 2011 N1.15

30 Sep, 2011 N1.26

Volumes Traded (# Millions)

40.0 30.0 20.0 10.0 -

Number of Trades
200 150 100 50 0

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

2010

2011

Market Movement
Sterling Share Price Movement vs. NSE All Share Index
Sterling Bank All Share Index
50% 40%

30%
20% 10%

1Jul, 2011 N1.84 ANSI: 25875.31

High: 1Jul 2011 N1.84 ANSI: 24696.83

Low: 28 Sep, 2011 N1.15 ANSI: 20029.66

30 Sep, 2011 N1.26 ANSI: 20373.00

0%
-10% -20% -30% -40% -50%

Jun 2011

Jul 2011

Aug 2011

Sep 2011

Oct 2011

NSE All Share Index vs. the MSCI Frontier Markets Africa Index
50% 40% 30% 20% 10% 0% -10% -20% -30%

MSCI FM Africa Index All Share Index

Jun 2011

Jul 2011

Aug 2011

Sep 2011

Oct 2011
Source: MSCI

Performance Review

Key Trends
NM Gross Earnings Total Assets Deposits Loans and Advances 314,014
12%

% Change Sep 10Sep 11

279,321

277,111

280,756

295,992

195,721

203,075

201,667

209,057

225,076
15%

103,754 90,540

109,647

124,296

132,950
47%

6,856 Sep 2010

11,197
Dec 2010

9,055 Mar 2011

9,103 Jun 2011

9,880 Sep 2011

44%

10

Income Statement highlights

Comments
Q3 2010 Q3 2011
21%

28,038

Double digit growth in revenues driven by improvement in both interest and non-interest income Growth in operating income boosted by NIM expansion

23,145
32%

18,095
16%

N Millions

37%

13,738
26%

13,802 11,882
-31% 91%

Increase in operating expenses due largely to inflationary pressures Profit before exceptional item grew 91% to N2.9 billion. Decline in PBT largely due to N4.2bn loan recovery that boosted net earnings in 2010. Core earnings excluding exceptional income was N2.9bn.

9,824 7,161 8,271

6,577

5,343 3,680

1,505

2,880

Gross Earnings

NIM

Other Income

Operating Income

OpEx

PBT

PAT

* Before Exceptional Item

11

Balance Sheet highlights

13%

Dec 2010 Sep 2011

10%

Comments
Continuous growth in key balance sheet lines spurred by slightly improved operating conditions Total assets and contingencies rose 14% to N371.9b from N326.0b in Dec. 2010

314,014
277,111

276,706

250,993
N Millions

11%

225,076 203,075
28%

132,950 103,754
43%

Loans and advances grew by 28% despite sale of loans to AMCON. Loans sold to AMCON in the tranche II process at N10.4bn, 9% of gross loans as at Dec. 2010
Growth in capital & Reserves resulted from profit accretion and N7.5bn subordinated note issuance.

37,308 26,118

Total Assets

Loans & Advances

Total Liabilities

Deposits

Capital & Reserves

12

Key Financial Ratios

Q3 2010 Q3 2011 Dec 2010 Sep 2011 108% 86%

Comments
Return on Average Equity stood at a competitive level of 18% Net Interest Margin rose to 51% feeding from a 28% improvement in interest income Strong improvement in liquidity ratio despite tighter monetary policy measures

85%

76%
58%

47% 30% 18%

2% 2%

51%

47%

13% 16%

12% 4%

Improvement in capital adequacy ratio to support business growth NPL ratio at 3.9% in line with our medium term goals

ROAE

ROAA

Net Interest Margin

CostIncome Ratio

CAR

Liquidity Ratio

NPL Ratio Coverage Ratio

Coverage ratio stood at 108%

13

Revenues
Revenue Mix NM Q3 2011
Interest Income Fee-based Income

11,349 7,479 299

319

320

5,000

414

1,411

1,446

8,271

28,037

19,766

28,037

21%

Q3 2010

9,024 4,261 1,650

322

1,312

3,174

58

2,178

1,167

6,577

23,146

16,569

23,146

Placements Inv. in Govt Loans & Sec. Advances

Finance Lease

Write-back

Fees & Comm.

Forex

Investment Inc.

Others

Total

Grand Total

Fee-based Income Mix

Fees & Commission Forex Investment Others

Interest Income Mix

18%

17% 48% 61% 17% 26% 8%

10%

Loans & Advances Finance Lease Inv. in Govt Securities Placements Write-back

55%

2% 2%

33%
14 Q3 2010

38% 5% 1%
Q3 2011

57%

2%
Q3 2010

2%

Q3 2011

Operating income
Operating Income NM
Q3 2011
9,824 5,000 414 1,411 1,446 18,095

Q3 2010

7,161

3,174

58

2,178

1,167

32%

13,738

Net Interest Margin

Fees & Commissions

Forex

Investment Income

Others

Total

Operating Income Mix

8% 0.0% 52% 8% 2% 54%

8%

NIM Fees & Commission Forex Investment Others

23%
Q3 2010

28%
Q3 2011

15

Operating Efficiency
16% -12%

13,802 11,882
N Millions

19%

Q3 2010 Q3 2011

Comments
Funding costs impacted by high interest rates resulting from tight monetary policy measures of the CBN. However, weighted average cost of funds remained relatively stable at 5%

86% 9,622

8,094

76%

Operating Expenses

Funding Costs

*excl. allowances for risk assets

Staff Cost Other Expenses

Cost to Income

Reduction in cost to income ratio reflecting improvement in revenues

Operating Expenses Breakdown

30% 30%

Efficiency will improve significantly as we tap cost and revenue benefits from economies of scale and operational synergies arising from business combination with ETB

70% 70%

16

Q3 2010

Q3 2011

Net Earnings
Profit /(Loss) Before Tax NM
41% 108%

Comments
The Group recorded steady growth in net earnings quarteron-quarter. However, the momentum slowed in the third quarter In the final quarter of 2011, we are optimistic that the performance in preceding quarters will be sustained and surpassed To achieve this we would continue to focus on:

3,941 2,804 1,351

Profit /Loss After Tax NM

41% 123%

3,680

2,606 1,169

Earnings / (Loss) per Share (kobo)

38%
133%

Growing quality risk assets - 28% growth achieved as at 3Q 2011 Deepening retail penetration for low cost deposit mobilization

29 21 9
Q1 2011 Q2 2011

Q3 2011

17

Asset Decomposition
8% 28%

142,105

154,001 132,950 103,754

Dec 2010 Sep 2011

N Millions

-17% 10%

26,725 4,527 Liquid Assets Loans & Advances

22,084

4,979
Other Assets
Liquid Assets Loans & Advances Fixed Assets Other Assets

Fixed Assets

Asset Mix
10% 2% 51% 2% 7% 49%

37% 42%
Dec 2010 18 Sep 2011

Assets Funding Mix

11%

203,075

225,076

Dec2010 Sep 2011

Comments
Diversified funding base with deposits as the major funding source Deposits funded 73% of total assets, while capital funded 12% Long-term borrowing consists of facilities from Citibank and Bank of Industry (under the CBN intervention fund).

N Millions

7%

9%

43%

25,058 26,730

22,860 24,900

26,118

37,308

Deposits

Long-term Borrowing

Other Liabilities

Capital & Reserve

Asset Funding Mix

9% 12% 8% 9% 73% 72%

Deposits Long-term Borrowing Other Liabilities Capital

8%
9%

Dec 2010 19

Sep 2011

Deposits
Deposit breakdown NM
Sep 2011
106,766 11,381 73,941 16,392 16,596 225,076

38,965 9,580 71,884 15,499

203,074

11%

Dec 2010

67,146

Time

Savings

Demand

Domiciliary

Interbank

Total

Deposit Mix
7%
19% 33% 8% 7% 47%

Time Savings Demand Domiciliary Interbank

33%
35%
Dec 2010 20

5%

5%
Sep 2011

Gross Loans by Type

Loans & Advances
NM
100% = 114,765 3,113 22,303 61,745 41,610
21%

100% = 138,887 3,781

Overdraft Term Loan Others Finance Lease

52,623

27,597
Dec 2010

40,873
Q3 2011
Overdraft Term Loan Others Finance Lease

Loans & Advances by Type

3% 19% 24% 30% 3% 29%

21

54% Dec 2010

38% Sep 2011

Gross Loans by Sector

% of Total: Sep 2011 (Dec. 2010)
NM 5% 2% 10,457 2% 4% 2% 5% 15,574 7%
Agriculture 1.4% (0.5%) Capital Market 2% (2.5%)

Finance & Insurance 4.3% (4.1%)

General/Others 2.4% (1.6%) Government 4.8% (1.8%) Indiv. & Professionals 11.4% (11.3%) Manufacturing 7.1% (11.6%)

24%

30%

Oil & Gas 29.6% (16.9%) Real Estate & Construction 24.4% (33.6%) Telecoms & Transportation 4.9% (3.7%)

Oil & Gas Exposure Split

3%
47%

Trading & Gen. Commerce 7.7% (12.5%)

50%

Crude oil refining Oil - downstream Oil & Gas Services

22

Loan book classification

Loans by Performance
12.0% 4.0%

Performing Non-Performing

88.0%

96.0%
Sep 2011

Dec 2010

-57%

Dec2010 Sep 2011

NPL Breakdown
NM
-53%

12,888

8,904
-38% -85%

4,211 1,485 2,499 915 375

5,501

Sub-standard

Doubtful

Lost

Total NPLs

23

Asset Quality
26%

107.9%

Dec 2010 Sep 2011

85.4%

-68%

-57%

11.5% 3.9%
NPL Ratio Coverage Ratio

10.0%

4.3%

Provision to Gross Loans

Comments
NPL ratio reduced to 3.9% of total loans driven by AMCON purchases. As at September 2011, total NPLs sold to AMCON stood at N10.35b representing non-margin facilities

The Bank has made adequate cover for non performing loans with coverage ratio of 108%.
Cost of risk reduced to 4% from 10% in December 2010.
24

Liquidity Profile
Liquid Assets breakdown NM

106,530
Sep 2011

154,001

17,305 17,744 12,422

104,322 Dec 2010

142,105

8%

6,660
Cash

6,024
Treasury Bills

25,099

Interbank

Investment Securities

Total

25

Strong Liquidity position

-4%
23%

Dec 2010 Sept 2011 64%

Comment
Liquidity ratio stood at a healthy level of 58%

58% 47%

63%

Liquidity Ratio

Loan-to-deposit ratio

Liquid Assets Split

5% 18% 12% 8%

Cash Interbank Treasury Bills Investment Securities

69%
73% 4% 11%

26

Dec 2010

Sep 2011

Business Case for ETB Acquisition

27

Deal Highlights
AMCON injects Financial Accommodation Amount (FAA) of N64.45 billion to bring the Net Asset Value (NAV) of ETB to zero as a precondition for the acquisition. In exchange AMCON receives 785,193,222 units of ETB shares subsequent to ETBs capital reorganization Existing ETB shareholders re-capitalize the institution up to N8.5 billion from zero Sterling Bank issues 3,140,772,888 in exchange for the assumption of all assets and liabilities of ETB with impact as follows on its ownership: AMCON: 1,570,386,444 units (10%) of total Sterling shares in issue ETB legacy shareholders: 1,570,386,444 units (10%) of total Sterling shares in issue Legacy shareholders of Sterling Bank retain existing holding, which total 80% of the enlarged Sterling Bank Total Sterling Bank shares in issue increases by 25% to 15,703,864,432 ordinary shares of 50 kobo each.
28

Key Facts
Recapitalization funding to be provided by legacy ETB shareholders
Sterling Bank Plc shares to be issued to legacy ETB shareholders

N8,500,000,000

3,140,772,888

Per share value of ETB shareholder holding

N2.71

Valuation
Market Value 10 Oct, 2011 June 30 Pre deal Book value 2.29 18%

Sterling Bank Valuation

Premium/ Discount Per share

1.43 90%

Transaction Dynamics
Pre-acquisition Acquisition & Capitalization Restructuring & Integration

Execution of Transaction Implementation Agreement (TIA) Capital re-organization of ETB

Injection of the Financial Accommodation Amount by AMCON to facilitate the acquisition

Integration implementation planning Divestment from subsidiaries and associate business not within the scope of the new banking license Integration of ETB into SBP Repositioning of the merged SBP for effective market penetration

Recapitalization of ETB up to N8.5b by existing shareholders

SBP absorbs the newly capitalized ETB and issues its shares in favour of AMCON and ETB existing shareholders

29

Pro Forma Capital Position

Pre-acquisition ETB (97%)

14%

AMCON Intervention14%

ETB Recapitalization

Sterling Bank Post-deal CAR

Sterling

15.3%
0%

15.3% 0%

16.7% 15.7%

17.6%

97%

Current Capital Adequacy Ratio of the Combining Banks

30

AMCON FAA brings ETBs net asset value (NAV) to zero

ETB recapitalized by legacy shareholders

Capital adequacy ratio as at 3Q 2011

31

711

UBA

611

First
570 Ecobank + Oceanic 491 Access + Intercontinental Union FCMB + Finbank Zenith 349 333 315

Skye
Unity Diamond Mainstreet Keystone Sterling + ETB

Market Share by Branches

#13

GTBank
Fidelity StanbicIBTC Wema Enterprise Sterling

249 223 215 206 201 189 186 184 181 154

120
#19

96

93

ETB
StanChart Citibank 26 13

32 First Zenith UBA Access+Intercontinental 8.7% Ecobank+Oceanic 6.6% GTBank 5.6% Union FCMB+Finbank Skye Diamond Keystone Sterling+ETB Fidelity Mainstreet Unity Citibank Sterling Enterprise

FY 2010, %

12.7% 11.5% 11.1% 10.2%

4.7% 4.1% 3.6% 3.4%

Market Share by Deposits

#12

2.9% 2.9% 2.5% #17

StanbicIBTC
StanChart ETB Wema

1.9% 1.8% 1.8% 1.7% 1.6% 1.3% 1.2% 1.1%

33 13.9% First 11.5% Zenith 9.8% UBA 9.2% Access+Intercontinental 8.7% Ecobank+Oceanic 7.0% GTB Union FCMB+Finbank Skye Diamond Bank Fidelity Keystone Sterling+ETB StanbicIBTC Unity

FY 2010, %

6.1%

Market Share by Assets

4.4% 4.3%
3.6% #13

2.9% 2.7% 2.5% 2.3%

#16

Sterling
Mainstreet Citibank Standard Chart Enterprise Wema ETB

1.8% 1.7% 1.6% 1.6% 1.4% 1.3% 1.2% 0.8%

Global Stakeholder Benefits

Customers
Enhanced institutional capacity to meet clients business requirements Array of financial products and services to a growing and discerning customer base The combined bank will initially have a network of 189 branches present in majority of the states. The footprint will bring the Bank within reach of its enlarged customer base, engendering banking convenience

Employees
Greater and promising career opportunities within a fast growing and more diversified organization Improved training and career development capacity Greater ability to attract and retain valuable human capital and senior talent

Shareholders
Tap cost and revenue benefits from economies of scale and operational synergies to achieve optimization Instant leap into Tier 2 banks category with greater stock market liquidity and lower risk perception Increased financial strength and capital position to support future growth Value creation through revenue and cost synergies, Leadership by established management team and knowledge sharing of best practices across both institutions

Unmatched value, superlative service

34

Excellent personal and professional development opportunities

Sustainable value creation

Key Transaction Timelines

Event
Last date for lodging proxy forms for Court-Ordered Meetings ETB Court-Ordered Meeting SBP Court-Ordered Meeting File resolutions obtained at the Court-Ordered Meeting and obtain CAC certified documents Apply for CBN/SEC final approval of the Scheme Receive CBN/SEC final approval of the Scheme Obtain Court sanction of the Scheme (Effective Date) Obtain CTC of Court sanction of the Scheme Obtain CTC of Court sanction with CAC File CTC of Court sanction with CBN/SEC and NSE and apply for registration of the Scheme shares File post merger documentation with CBN/SEC Publish copy of Court sanction in at least two national newspapers Submit copy of Court sanction for publication in the Gazette Obtain SEC approval for the registration of the Scheme Shares File Court-sanction / newspaper advert with the NSE Dispatch Sterling Bank share certificates to ETB existing shareholders/ credit CSCS accounts of ETB existing shareholders

Date
Sep 26, 2011 Sep 28, 2011 Sep 28, 2011 Sep 29, 2011 Sep 29, 2011 Sep 29, 2011 Sep 30, 2011 Sep 30, 2011 Sep 30, 2011 Sep 30, 2011 Sep 30, 2011 Oct 3, 2011 Oct 3, 2011 Oct 5, 2011 Oct 5, 2011

Status
Done Done Done Done Done Done Done Done Done Done Done Done Done Done Done

Oct 7, 2011 Oct 7, 2011

Done In Process

Listing of Scheme shares on the NSE

35

Consolidated Balance Sheet 3Q 2011

Indicators (N in Millions) ASSETS
Cash & Short Term Investments Due from other Banks Loans & Advances Investment Securities Other Assets Fixed Assets
TOTAL ASSETS

Sterling Bank

ETB

Consolidated

30,166 17,305 132,950 106,530 22,084 4,979 314,014

25,795 13,000 31,385 123,722 12,056 3,932 209,890

55,961 30,305 164,335 230,252 34,140 8,911 523,904

LIABILITIES
Customers' deposits Borrowings Other Liabilities
TOTAL LIABILITIES

225,076 26,730 24,900 276,706

29,808 7,500 37,308

149,526
47,532 197,058 12,832 12,832

374,602 26,730 72,432 473,764

42,640 7,500 50,140

CAPITAL
Tier I Capital Tier II Capital Capital & Reserves

Contingencies
Balance sheet size
36

57,882 371,896

31,582 241,472

89,464 613,368

Financial Forecasts: Balance Sheet

(N in Millions) ASSETS
Cash in hand and balances with CBN Treasury bills Due from other banks Loans and advances to customers Advances under finance lease Investment securities Investment in associates Investment properties Other assets Deferred tax assets Property and equipment 41,113 17,000 53,778 157,327 3,812 233,903 106 9,115 31,100 4,257 10,146 561,657 37,617 15,554 49,204 228,117 16,981 285,375 4,557 34,788 1,757 10,526 684,478 40,023 16,549 52,352 295,878 22,067 341,456 39,030 7 10,932 818,294

2011E

2012E

2013E

TOTAL ASSETS

LIABILITIES
Customers' deposits Due to other banks Current income tax payable Other liabilities Defined contribution obligations Deferred tax liabilities Long-term borrowing
37

TOTAL LIABILITIES NET ASSETS

419,283 2,868 (111) 61,733 3,743 12 26,915 514,443

503,140 2,624 415 73,207 3,743 12 26,915 610,055

603,768 2,792 2,853 87,284 3,743 12 26,915 727,367

47,214

74,423

90,927

Financial Forecasts: Capital & Reserves

(N in Millions) 2011E 2012E 2013E

DEBT CAPITAL
13% subordinated unsecured Non-convertible stock 7,500 7,500 7,500

CAPITAL AND RESERVES

Share capital Share premium Share reserve Retained earnings Other reserves Capital and Reserves 7,852 19,244 5,276 1,836 5,506 47,214 10,346 31,749 5,276 9,466 10,086 74,423 10,346 31,749 5,276 19,782 16,274 90,927

38

Financial Forecasts: Profit & Loss

(N in Millions)
GROSS EARNINGS Interest and similar income Interest and similar expenses Net interest margin Fee and commission income Fee and commission expenses Net fee and commission income

2011E
45,703 30,849 (14,029) 16,820 8,501 8,501

2012E
89,682 60,146 (22,978) 37,168 18,784 18,784

2013E
115,209 75,860 (26,129) 49,731 25,134 25,134

Income from investments Other income Operating income

Operating expenses Loan loss expenses Diminution in value of other risk assets PROFIT/(LOSS) ON ORDINARY ACTIVITIES PROFIT/(LOSS) BEFORE TAXATION

1,674 4,680 31,674

(25,123) (138) (804) 5,610 5,610

1,065 9,687 66,704

(46,972) (2,649) (1,353) 15,731 15,731

1,254 12,961 89,080

(61,694) (2,553) (1,556) 23,277 23,277

Taxation

272

(471)

(2,646)

PROFIT/(LOSS) AFTER TAXATION

39

5,881

15,260

20,632

Strategic Outlook

40

The acquisition of ETB by Sterling Bank is supported by a compelling business case

Increased critical mass in the retail banking space
Business model scalability at an appealing price Strong corporate banking proposition Attractive opportunity for growth and enhanced profitability

to deliver our long term strategic goals

41

Strategic Goals
Mid-term (2011+3)
3-5% market share measured by assets Leading consumer banking franchise (bank of choice for customers in our target markets) Low single digit cost of funds Diverse retail funding base <5% in non-performing loans Diversified income streams with top quartile position in all our operating areas Double digit revenue growth Y-o-Y

2011

2012

2013

2014

Long-term (2015+)
Globally competitive financial services franchise Fully scaled business model with institutionalized processes beyond the stewardship of current owners and managers Systemically important operator materially impacting all our sectors of business participation

2015
42

2016

2017

2018

2019+

Contacts
Office
20 Marina, Lagos, Nigeria Tel: 234-(01) 2600420-9; Fax No: 234-(01) 2702310 Website: www.sterlingbankng.com

Investor Contacts
Yemi Odubiyi
Chief Strategy Officer +234 803 535 0991 yemi.odubiyi@sterlingbankng.com

Abubakar Suleiman
Group Treasurer / Financial Markets Head +234 803 535 1172 abubakar.suleiman@sterlingbankng.com

43