The Alternative Bank Limited (Alt Bank), a 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 bank’s founding Managing Director, as it prepares for its next phase of growth in Nigeria’s non-interest banking market.
He brings more than 25 years of international financial services experience, having held senior leadership positions across Europe, America, Asia, the Middle East and Africa.
Before his appointment, Khan served as Chief Executive Officer and Board Director of I&M Bank Kenya. He also previously served as Group Head of Products at Airtel Money, overseeing the fintech business across 14 African markets.
His experience includes serving as Global Head of Retail Banking and Wealth Management at HSBC Amanah, the group’s non-interest banking business. He has also held executive positions with financial institutions in the United Arab Emirates, Egypt and Qatar.
Commenting on the appointment, Muhtar Bakare, Chairman of Alternative Bank, said Khan’s expertise in non-interest banking and leadership experience across African financial services made him well positioned to lead the institution’s next growth phase.
He expressed confidence in Khan’s ability to build on the bank’s existing foundations, expand its reach and maintain strong governance and commercial discipline.
Khan said his priority would be to position Alt Bank as a preferred financial services provider for Nigerian consumers and businesses by developing solutions that address their needs.
He noted that the bank would focus on providing accessible financial products that support individuals in acquiring productive assets and businesses in expanding their operations.
He added that he looked forward to working with the board and management team to strengthen the bank’s performance and sustain customer confidence.
The appointment comes as Alternative Bank strengthens its financial and technological capacity to expand its operations.
The bank said it had met the CBN’s revised minimum capital requirement for national non-interest banks ahead of the regulatory deadline.
It has also completed its migration to MIZAN, a core banking platform designed specifically for non-interest financial institutions.
The strengthened capital base and technology investments are expected to support the bank’s capacity to finance business growth, improve service delivery and develop financial products tailored to customers’ needs.
Alternative Bank is part of Sterling Financial Holdings Company Plc, a diversified Nigerian financial services group. The institution focuses on expanding access to non-interest financial solutions for individuals and businesses across the country.
