NIB Overview

From the inception of SunTrust Bank Nigeria Limited, a 5-year strategy anchored on two new focal pillars was developed to drive future growth and create superior value for shareholders. These two focal strategic pillars are:

  1. Tapping into the huge Non-Interest Banking (NIB) market with the launch of its non-interest Banking window.
  2. Leveraging Financial Technology Solutions to drive efficiencies and unlock new possibilities.

Thus, SunTrust Bank Nigeria embarked on its journey to establish its FinTech Non-Interest Banking Window, building on a synergistic mix of both strategic pillars. And on February 18, 2019, the Bank obtained its final license to operate the NIB.
SunTrust Bank Non-Interest Banking Window is poised to create value for its customers by leveraging competencies and team of highly motivated staff that work tirelessly to develop and provide a broad range of unique financial services and products for consumers, small businesses, corporations, governments institutions and agencies, which positively impacts their business operations and meets their intrinsic needs.

The NIB caters to diverse ethical needs and engagements of both the customers and prospects. This helps create the best outcomes for our customers with financial ingenuity that leads to solutions that are simple, creative, responsible and in line with the Islamic commercial jurisprudence. The Window focuses its lending activities on SME Finance, Retail/Consumer Banking, medium to large Corporate Finance and explores other specialized Development/Infrastructure financing activities and offers it transactional deposit products (savings and current accounts) using digital distribution channels such as Card services, ATM, POS, Mobile App, Internet Banking, telephone banking, USSD code etc. It offers a viable alternative to the conventional banking offerings.

Our Shari’ah-compliant Products

The products have been branded as Ihsan – Savings, Current, Murabaha and Ijarah are all Shariah-compliant end-to-end having passed through our Shari’ah governance process. Our Ihsan branded Savings, Current, Investment, Murabaha and Ijarah accounts are all Shariah-compliant end-to-end having passed through our internal Shari’ah governance processes and certified by the Central Bank of Nigeria Financial Regulation Advisory Council of Experts (FRACE). Our deposits (transactional) account allows the use of our modern e-banking solutions such as our omnichannel internet and mobile banking platforms, USSD/telephone banking, card services, email and SMS alert services.

Welcome to SunTrust Bank

Our Vision

To be the retail Bank of Choice.

Our Mission

To serve as a trusted partner to our clients.
A mission of growth and progress.

Our Values

Openness: Our goals, our tools, our processes and our results shall be open as much as is practical. Our team members are encouraged to speak openly and communicate freely both internally and externally.

Respect: We treat everyone with respect, recognizing the importance of their contributions: team members, customers, partners, suppliers and competitors.

Innovation: We encourage a culture of experimentation and research, to create, with financial ingenuity, products and solutions that are simple, creative and responsible where entrepreneurship and prudent risk-taking are encouraged, rewarded and incorporated.

Integrity: We employ the highest ethical standards, demonstrating honesty and fairness in every action that we take.

Learning: Education is the foundation of making the world a better place.

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