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Sterling HoldCo expands Alternative Bank’s presence in Nigeria

Sterling Financial Holdings has recently announced the launch of its non-interest banking subsidiary, The Alternative Bank. The event took place simultaneously in three major cities across Nigeria: Lagos, Abuja, and Kano. The Alternative Bank sets out to create sustainable wealth for all by adopting a unique approach to partnering with its customers.

At the Abuja launch, the Executive Director of The Alternative Bank, emphasized the institution's commitment to doing things differently. Similarly, the Managing Director, stressed the belief that banking should facilitate shared prosperity, where customers are regarded as partners. This vision underlines the journey of wealth creation where profits are shared, and customers receive funds without incurring interest charges.

New Digital Products

The launch event featured the unveiling of digital products designed to drive financial inclusion and sustainable practices. These include AltMall for e-commerce, AltInvest for ethical retail investments, AltPower for renewable energy solutions, AltDrive for vehicle financing, and WasteBanc for the monetization of recyclable waste.

The emphasis on the non-interest banking principle underscores The Alternative Bank's dedication to fostering responsible investments and positive social and environmental impacts.

In a significant move towards innovative retail investments, The Alternative Bank introduced the first AltCoin, offering investors the opportunity to preserve and grow their wealth through gold investments.

The emergence of The Alternative Bank represents a crucial step in the banking sector, signalling a paradigm shift towards sustainable practices and customer-focused banking. With its holistic approach to non-interest banking and innovative product offerings, The Alternative Bank is poised to set new standards for the financial industry, not only within Nigeria but also globally.

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