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Afrinvest (West Africa) Limited, a financial service holding company with a focus on West Africa, has named Sterling Bank Plc as the overall winner of the 2022 Nigerian Banking Sector Survey. 

This honor follows the bank’s recent triumph at the Nigerian Fintech Awards, where Abubakar Suleiman, the bank’s CEO, was awarded the Special Leadership in Innovation Results award. It emphasizes the outcomes of Sterling’s recent efforts toward customer-focused innovation and excellent service delivery, chronicling the bank’s continuing rise as evidenced by her ranking in the top two for individual and SME banking customer experience.

According to a statement from the lender, Sterling Bank received 46.0% of the survey respondents’ votes, making it the best bank in Nigeria for 2022. Guaranty Trust Company (GTCO), which had been named the best bank for five years running, came in second with 20.2%. 

According to the research, respondents to this year’s survey gave Access 8%, Zenith 4%, and FBN Holdings 4% each, while UBA received ratings of 3.7% and Standard Chartered received ratings of 3.3% to place among the top seven most highly rated banks. 

“The majority of respondents were millennials and generation X who have attained at least a Master’s degree, full-time employment, and currently occupy the portion of the income pyramid with earnings between N100,001 – 500,000.”

Additionally, they noted that while male respondents made up 53.0 percent of the total, they were more engaged than female respondents, who made up 24.7 percent of Generation X and 60.0% of millennials respectively. 

The demographics of the respondents, it continued, “reflect the youthful population and income disparity dynamics in the Nigerian economy. “Overall, customers were satisfied with their banking experience highlighting service quality, convenience, and digital efficiency as key factors for maintaining a relationship with their current bank(s).”

The poll, which was performed by Afrinvest analysts as part of the annual Banking Sector Report to assess the Nigerian banking experience, yielded a total of 1,946 responses from all over the nation, according to the analysts, providing a diversified experience. 

Investment banking, dealing in securities, asset management, fund trust, and investment research and consultancy are the five main business segments of Afrinvest (West Africa), a financial services holding firm with a concentration on West Africa.



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