Nigeria’s first full-fledged technology bank, SunTrust Bank Nigeria Limited (STBNL) has promoted 25 per cent of its workforce and implemented salary increases of between 25 per cent and 75 per cent for all employees as part of efforts to strengthen staff welfare and reward performance.
In a statement on Thursday, the bank said the promotions were designed to recognise employees’ contributions, encourage professional development and provide career advancement opportunities within the organisation.
It added that the salary adjustments reflected its commitment to improving employees’ welfare, enhancing their purchasing power and recognising the role of its workforce in driving the bank’s growth.
According to the lender, the initiatives form part of its broader investment in human capital to build a skilled and motivated workforce capable of supporting its strategic objectives and long-term ambitions.
“At SunTrust Bank, people remain central to the organisation’s vision and success. The initiative reflects the bank’s commitment to creating an environment where employees feel valued, supported and empowered to contribute meaningfully.
“By investing in our people, we have continued to demonstrate that building a stronger institution begins with taking care of the people who make it possible,” the bank said.
The lender also announced plans to commence recruitment for 2027, providing opportunities for new employees to join the organisation.
It said the recruitment exercise would complement its internal career advancement initiatives by attracting fresh talent to strengthen its operations and support its future growth plans.
SunTrust Bank was incorporated in 2009 as a mortgage bank before transitioning into a commercial bank.
In November 2015, the Central Bank of Nigeria (CBN) granted the bank a regional commercial banking licence, paving the way for it to commence operations on August 15, 2016.
