The Alternative Bank Limited (Alt Bank), the non-interest banking subsidiary of Sterling Financial Holdings Company Plc, has appointed Gul Khan as its Managing Director and Chief Executive Officer, following approval by the Central Bank of Nigeria (CBN).
Khan succeeds Hassan Yusuf, the financial institution’s founding Managing Director.
The appointment was introduced in a press assertion issued by Alt Bank and seen by Nairametrics.
The financial institution mentioned the management change comes as it continues to strengthen its operations, increase its attain and develop monetary options for customers and companies.
Alt Bank appoints Gul Khan as CEO
Muhtar Bakare, Chairman of Alternative Bank, mentioned the board was assured that Khan would construct on the financial institution’s present basis and broaden its attain.
Bakare highlighted Khan’s expertise in non-interest banking and monetary companies, expressing confidence in his means to guide the financial institution via its subsequent section of development.
- “Gul’s experience in non-interest banking and his management expertise throughout African monetary companies place him nicely to guide Alternative Bank via its subsequent section of development.
- “The Board is confident in his ability to build on the Bank’s foundations and broaden its reach, while maintaining the strong governance and commercial discipline essential to long-term success,” he mentioned.
Bakare added that Khan would work with the board and administration crew to information the financial institution’s subsequent section of development.
Outlining his priorities, Khan mentioned he aimed to make Alt Bank the popular selection for customers and companies in Nigeria.
- “The alternative is to make Alt Bank the popular selection for customers and companies in Nigeria.
- “That means understanding what clients want, whether or not buying productive belongings or rising their companies, and offering options which are related and so they can use with ease.
- “I look forward to working with colleagues to build on Alt Bank’s progress and earn our customers’ continued trust,” he mentioned.
Gul Khan brings 25 years’ expertise
Khan has greater than 25 years of worldwide monetary companies expertise, having labored throughout Europe, America, Asia, the Middle East and Africa.
- Most lately, he served as Chief Executive Officer and Board Director of I&M Bank Kenya. He additionally held the place of Group Head of Products at Airtel Money, the fintech enterprise working throughout 14 African markets.
- His earlier roles embody Global Head of Retail Banking and Wealth Management at HSBC Amanah, the group’s non-interest banking enterprise.
- His profession additionally consists of government management positions at banks within the United Arab Emirates, Egypt and Qatar, giving him expertise throughout established banking establishments and technology-led monetary companies companies.
Meanwhile, The Alternative Bank, a subsidiary of Sterling Financial Holdings Company Plc, met the CBN’s revised minimal capital requirement for nationwide non-interest banks nicely forward of the regulatory deadline.
The financial institution has additionally accomplished its migration to MIZAN, a core banking platform designed for non-interest monetary establishments. Its strengthened capital base and funding in expertise help its capability to finance enterprise development and develop merchandise that meet clients’ wants.
What it is best to know
In February 2026, Sterling Financial Holdings Company Plc confirmed that its core banking subsidiaries, Sterling Bank and The Alternative Bank, had been absolutely recapitalised in keeping with the CBN’s revised minimal capital necessities.
The group mentioned its capital-raising programme was largely accomplished between December 2024 and October 2025, putting it forward of the March 2026 trade deadline.
Group Chief Executive Officer, Yemi Odubiyi, mentioned the recapitalisation had strengthened the group’s capability to help financial development whereas preserving monetary stability.
He famous that absolutely capitalising each Sterling Bank and The Alternative Bank strengthened the group’s dual-bank mannequin, enabling it to serve each typical and non-interest banking segments.
