Sterling to partner microfinance banks on agent banking

In addition to this, the bank plans to open about 200 new bank branches and cash centres across the county this year. This should progress steadily in the coming years.
The bank says these investments are targeted towards getting a sizeable number of the unbaked adult population into its fold.
“All areas with potential commercial activities are potential targets for our agent locations. We will also partner with strong micro finance banks in locations where we do not have presence to drive our agent banking scheme,” the Group Head, E-Business of the bank, FataiAmoo, told journalists in Lagos.
He also said this will ensure that the bank’s customers do business with ease and convenience. “When we take agent banking to our customers, they will be able to do transactions at cost effective rate and conveniently too. Our agent customers will also have access to small credits,” he said.
He also said adequate measures have been put in place to make sure agents transact safely and securely.
Also speaking, the Executive Director of Sterling Bank, DavendraPuri, said the bank is positioning to corner 10 percent (3.5 million) of the 35 million unbanked Nigerians in its financial inclusion drive.