OUR PHILOSOPHY AND COMMITMENT
As a financial service provider with an obligation to comply with international best practices, Keystone Bank Limited has continued to ensure that its business operations and activities comply with applicable national environmental and social regulations.
In line with our business strategy in adopting sustainability principles, our operation is anchored on providing financial services in a responsible manner that is consistent with global sustainable practices without compromising shareholders’ value whilst impacting positively on the lives of our employees, customers and host communities.
Our commitment to exceptional service extends beyond providing traditional
banking services. It includes giving back to the communities in which we operate to make a lasting difference through our four main Corporate Social Responsibility pillars: Health, Education, Women & Youth Empowerment and Employee Volunteer Scheme not neglecting the environment in which we operate.
Demonstrating our commitment to Corporate Social Responsibility is a deliberate strategy for Keystone Bank that aligns our business values, purpose and trust with the social and economic needs of stakeholders, whilst entrenching responsible and ethical business policies and practices in all our activities.
Keystone Bank has continued to develop an approach that promotes accessible and affordable financial products and services to disadvantaged groups who are either not served by the formal financial sector in line with the CBN’s financial inclusion strategy. For Nigeria’s economic and social development, financial inclusion is a critical instrument for achieving key objectives such as: reducing extreme poverty; reducing barriers to economic participation by women and disadvantaged groups; improving financial education and financial literacy for all. Available statistics shows that about 41.6% adult Nigerians do not have access to financial services. Factors that account for those levels of financial exclusions include awareness, illiteracy, unemployment, distance and low level branches and cumbersome account opening requirements/procedures. In line with these, the bank is addressing the financial inclusion gaps from the areas below:
In demonstration of our commitment to promoting fitness and healthy living amongst Nigerians, Keystone Bank flagged off 2019 with the Orange Island/Keystone Walk themed ‘Invest in your Health’. The event was in collaboration with the Orange Island Development Company.
The bank recognises the importance of health and well-being to economic development, leading over 600 participants to cover a distance of 5km around the island. Apart from the walk there were warm up sessions by popular OAP Kaylah Oniwo and celebrity fitness coach Maje. We strive to continually promote advanced healthcare in Nigeria.
Keystone Bank recognises education as the bedrock of sustainable development, accelerating progress and positive change in the society at large. Education is one of our core CSR pillars, as we strive to impact the leaders of tomorrow.
In keeping with the Bank’s commitment to promote qualitative education and advanced healthcare in Nigeria, Keystone Bank Limited has handed over a renovated and fully equipped Sick Bay to Dodan Barracks Primary School, Obalende, Lagos to provide adequate healthcare for its pupils.
This intervention is aimed at improving the learning and teaching environment in schools, thereby raising the standard of education and healthcare in places where they are most needed in the country.
At Keystone Bank, we believe health is an integral aspect of the country's economic development. The Keystone Bank CSR health initiative tagged, "Think Road Safety, Save Lives" launched on November 21, 2013 to provide health screening and teach preventive health measures to road transport workers. This is in line with the FRSC projection to reduce road traffic accidents by 50% by 2015 and mitigate the 90% of road accidents attributed to human factor. Similarly, it aligns with the United Nations General Assembly resolution of 2010 calling for a Decade of Action for Road Safety from 2011 to 2020.
Major partners of this project include The Eye Foundation Hospital, Public Health Partner and Federal Road Safety Commission (FRSC) with the amiable comedian, Saka, appointed as the project ambassador for this initiative.
Keystone Bank identified that interstate drivers accounted for majority of the mass transportation in Nigeria. Thus, the Bank set out to educate drivers and refocus their perceptions about their health with regular health checks to promote a safer society.
The CSR event was divided into three action-packed days, beginning with an interactive road show on November 20, 2013 to communicate to commercial drivers the importance of eye screening tests and relay the benefits of the Keystone Bank project. The launch of the CSR event was held at Transcorp Hilton, Abuja on November 21, 2013 with the aim of promoting a “health-check culture” among commercial bus drivers in Nigeria. Screening of drivers also commenced that day at Jabi Motor Park involving: testing and identifying their visual acuity; verifying the accuracy of the blood group listed on their driver’s license; providing corrective glasses; and offering health screenings (body mass index, blood pressure readings, fasting/random blood sugar levels and blood lipid profile levels). The last day of the event witnessed screening at Edegbe Park Line on November 22, 2013. In total, the Bank and its partners screened over 200 mini and luxurious bus drivers. After receiving positive responses and results from the Abuja event, the Bank continued the Health and Eye Screening project in motor parks in Lagos and Port Harcourt in 2014 with plans to extend the health and eye screening tests in all 6 geo-political zones from 2015.
We acknowledge education as an essential aspect of the development of any society, and advocate providing easy access to first-level healthcare in schools.
The importance of knowledge and learning has been recognized since the beginning of time. Plato wrote: “If a man neglects education, he walks lame to the end of his life.” Achieving primary education is listed as one of the millennium development goals by the United Nation following the global state of educational system in most countries. Although Government bodies continue to strive in meeting the educational demands of its citizens, a huge gap still stands out in this sector which needs to be urgently bridged to achieve significant socioeconomic development. Keystone Bank shares a similar vision for national and economic development, hence we are consistently devising initiatives and seeking out various opportunities for collaboration with the government to enhance the educational output of the communities wherein we operate. In 2018 the bank embarked on an educational campaign tagged “the future today” in public primary and secondary schools across the federation. The campaign focused on the following:
• Financial Literacy
• Provision of Educational materials for enhanced learning
• Mentorship and life coaching
• Educational debate
Through this campaign thirty schools were impacted with a reach of over five thousand students.
NATIONAL SCHOLARS SCHEME
Keystone Bank National Scholars Scheme Background
The Keystone Bank National Scholars Scheme focuses on the proactive orientation and training of the next generation to create constructive change in the society.
We partner with accomplished role models, who embody requisite values, from all walks of life to speak with young audiences to propagate and evaluate positive choices.
Target Audience: The primary target audience is secondary school level youth who possess impressionable minds, with expected trickle-down effects on parents and the larger community.
Structure: Branches take on and mentor students in schools closest to them.
Duration: This is a lifetime project.
The programme has three facets:
* Motivational Series
* Mind Development
* Mentoring Scheme
The Motivational Series
The motivational series engage accomplished national figures who model positive values to spark productive ambition in the youth.
These sessions are held in their natural environments – schools, neighbourhoods and youth groups – where inspirational experiences are shared and questions are sincerely treated to drive positive change in the lives of numerous Nigerian youth.
We have extended our school footprint to build the requisite knowledge and intellectual capabilities of our scheme beneficiaries through our interventions with libraries.
This is the second facet of the Keystone Bank National Scholars scheme. From building comfortable libraries to stocking up new books, Keystone Bank National Scholars Scheme will continuously seek to shape the minds of the new generation.
The Mentoring Scheme
We understand the challenges indigent youth face with accessing role models in their community beyond motivational sessions. The mentoring programme utilizes the twin approaches of inspiration and practical provision, encouraging willing staff members to mentor students within their immediate localities. A broad range of mentoring activities including discussions, counseling, teaching, picnics, book gifts, industrial visits, etc. are executed to change students’ lives for the better.
The Scheme was officially launched on Wednesday, February 11, 2004 with 100 indigent students in five public schools - Eko Akete Grammar School, Victoria Island Secondary School, Government College Maroko, Ikeja High School and Agboju Secondary School as beneficiaries. The Bank pays all levies and exam fees for these students, provides them with uniforms, sandals and school bags, in addition to monthly stipends to ensure that they are not distracted from academic pursuit due to unavailable finances. Modern libraries, each with a seating capacity of over seventy students, have been re-constructed under the Mind Development series in each of the five schools benefiting from the pilot scheme. In addition to stocking the libraries with books on key subjects, books for all subject areas have been purchased and distributed to benefiting students.
The choice of public schools is a direct response to their parlous state and will reinvigorate a reading culture.
For many students, tertiary education is a tall dream. Keystone Bank National Scholars Scheme equalizes opportunity for those who would otherwise be excluded. Indeed, two years into full implementation of the Keystone Bank National Scholars Scheme, it is already impacting positively on the lives of the beneficiaries.
For instance, Issa Wasiu recently gained admission into University of Ilorin. When the scheme was launched in 2004, Issa, the Head Boy of Agboju Secondary School was in SS 3, final year. Born of an indigent carpenter father, Issa had no textbooks to read in preparation for the Senior Secondary School Certificate Examination (SSCE) and could not afford the N5,000 NECO fees.
Keystone Bank came to his rescue, donating books and covering the exam fees. Of the nine subjects enrolled for in the SSCE, he recorded distinctions in Mathematics, Agricultural Science, Biology, Chemistry, Physics, and Yoruba language and credit passes in the others. He exceeded the JAMB cut-off and now studies Engineering at University of Ilorin, on a five-year scholarship, sponsored by Keystone Bank National Scholars Scheme.
Keystone Bank is setting the pace for CSR efforts across organisations and is becoming the model of innovative commitment to our common good.
ICT CENTRE PROJECTS
In a bid to eliminate computer illiteracy and create an opportunity for pupils to better compete in the constantly changing technological landscape, Keystone Bank invests in ICT centres for students.
Keystone Bank partnered with the Inoyo Toro Foundation (ITF), an NGO; leading education foundation in Nigeria: Headstart IT, a Curriculum Developer with the NCC of Britain; and other project partners to expand the National Scholars and National Library Schemes to include ICT Centres, with the aim of progressively educating pupils on IT over the next 5 years.
The pilot programme, inaugurated in partnership with the Akwa Ibom State Government covered four schools with Keystone Bank Libraries namely: Cornelia Connelly College, Afagha Oku; Independence High School, Ikot Ntuen; Methodist Boys High School, Oron and Salvation Army Secondary School, Akai Ubium. Each school was provided with 30 computers, internet service, generators and recommended NCC Curriculum for over 1,000 pupils in Akwa Ibom State.
SCHOOL LIBRARY PROJECTS
Keystone Bank designed the National Schools Library Scheme to catalyze positive change and revive a reading culture through the donation of fully stocked libraries for students. The contribution of the best educational tools aims to boost innovation, flexibility and responsiveness in beneficiaries. Some of the benefits of the National Schools Library Project include:
1. Construction of School Library
2. Stocking of the library with textbooks in line with the National/State Curriculum.
3. Advocacy and community engagement for support of the project initiatives.
4. Award of scholarships to students in the schools based on set criteria.
5. Sponsorship of capacity building initiatives including seminars, excursions and training.
The role of employee volunteering will continue to remain critical for businesses to achieve success and a competitive advantage. As a Bank we have moved beyond the norm of cash-only contributions towards innovative solutions to engaging our employees to give back and serve in the communities where they operate. This is one out of the many strategies the Bank is utilizing to think outside the paradigm of community relations and involvement.
These are some of the ways our employees volunteer within the scheme:
Every quarter business unit and branches are given a theme as a guide to creatively execute community impact project, winners are given awards to encourage healthy competition.
Employees are able to give regular time, about one or two hours per week or month. Activities include mentoring, sports administration, catering for the elderly and orphans.
Skills Based Volunteering:
Employees deploy their skills voluntarily for business support including financial or legal services, business planning, marketing or IT support.
Help to raise funds for voluntary organizations.
In Kind support
Providing a free service to a voluntary organization including use of facilities for meetings, limited agreed use of computers or photocopiers. This approach complements business goals and value as it builds the morale of our work force. It creates an enabling environment for team building and leadership activities and opportunities. More importantly help to alleviate community development challenges as our employee inspired initiatives are mutually beneficial.
CHEERFUL GIVING PROJECT
At Keystone Bank, we believe in sharing and showing kindness to everyone around us. This inspired our Cheerful Giving Project, tailored to each season of the year. This is one of the avenues to ensure our employees contribute positively to the communities around us by pooling resources together to make charitable donations to selected homes and institutions.
The theme of Christmas 2017 was tagged ‘Act of Kindness’. We shared the holiday spirit by visiting a few selected homes and meeting some of their identified needs.
Volunteers in Lagos participated in the Pacelli School for the Blind ‘End of Year Party’. They also collaborated with Give Back Nigeria to celebrate the yuletide season with the children and mothers of Makoko community, Lagos.
In Edo state, the volunteers spent a day in the Edo State Welfare Orphanage.
As a Bank of best practice, guided by sustainability in all that we do, we have taken on a conscious mandate to ensure our Cheerful Giving Project is impactful in the environment in which the bank operates.
PEOPLE MAKE OUR WORLD
Welcome to our world: a world where you are free to be you, where dreams and achievements connect, and belief and action meet.
Our commitment to People: Shareholders, Customers/Partners, Employees and their families as well as our larger community are unified on the platform of our first Social Report.
At the core of our values and actions as a socially responsible and visionary corporate citizen is the individual: the man on the street, the student in some remote college, the staff in the next office, or the dedicated public servant providing valuable service to the populace.
Our corporate social responsibility strategy revolves around multiple bottom lines – profit, people and environment – to positively impact the communities in which we live and operate.
Our social engagement involves a thorough process of needs articulation, stakeholder consultations and capital investment (both human and material) to foster development. Matching our belief with action, we have consistently identified, nurtured and celebrated excellence in different spheres within the community.
This universal thread runs across our corporate social responsibility initiatives and organization and is highlighted in our trailblazing Social Report.
It is our belief, as evidenced in the growing number of institutions who have caught the vision of social development, within and beyond banking, that in pioneering these efforts, others will be encouraged to join us to build the society of our dreams: where you are free to be you.
This first Social Report is part of our culture of transparency, and recognition of the value of effective two-way communication engendering stakeholder feedback and ultimately sustainable development. The Report is produced in line with Global Reporting Initiative (GRI) standards, and makes for a pleasurable read.
To receive a copy of the report, kindly contact:
The Divisional Head,
Marketing & Corporate Communications
Keystone Bank Limited
1, Keystone Bank Crescent,
Victoria Island, Lagos
Phone: 0700 2000 3000
National Voter Enlightenment
In the lead-up to the epochal national elections which ushered in the first civilian to civilian transition, Keystone Bank was again at the forefront of national activism. The Bank partnered with the United States Information Services (USIS) and Ruyi Communications in a massive voter enlightenment programme focusing on the media as society’s agenda setters and information gate keepers.
Held in Lagos and Abuja, the programme tagged “Media Empowerment Seminar towards Effective Reportage of the 2007 Elections in Nigeria” equipped the Nigerian media with modern skills and international experience required to facilitate effective professional reportage of the 2007 election.
KEYSTONE BANK EMPOWERS WOMEN AT THE 2018 OKPEKPE INTERNATIONAL ROAD RACE
Keystone Bank held the reins of the Women Empowerment segment of the recently concluded International Okpekpe Road Race. The Okpekpe Road Race, an annual 10-kilometre marathon organised by Pamodzi Sports Marketing Nigeria Ltd in partnership with the Edo State Government, is recognised by the International Association of Athletics Federation (IAAF) and attracts competitors from all over Africa. Keystone Bank is committed to supporting initiatives that empower women, the bedrock of social and moral values, and youth in line with the pillars of the Bank’s Corporate Social Responsibility (CSR). As part of the Women Empowerment Programme sponsored by Keystone Bank, 40 indigenous women were trained and provided with start-up kits in various vocational skills. Beyond being one of our CSR pillars, the focus on supporting women in the society stems from the fact that women remain the largest untapped reservoir of talent in the world. According to a study by the Clinton Foundation, 41% of Nigerian women are entrepreneurs compared to only approximately 10% in the US and 5.7% in the UK. According to the Global Entrepreneurship Monitoring’s annual report, women actually outnumber men in the entrepreneur space in countries like Ghana, Nigeria and Zambia. Many of these women include small scale operators in the rural areas who, if provided with the right kind of support, can have significant effects on the economy. Keystone Bank CSR efforts and strategies are inspired by research reports for maximum impact in each area of investment.
Career Insight Day
Keystone Bank seeks to develop Nigeria's next generation of young leaders to transform the country by delivering programs that fosters entrepreneurship, employability and self-discovery work readiness to millennials. As one of the initiatives in achieving this objective, the Career Insight Day project was born to identify youths with boundless initiatives and great foresight. In its maiden edition, over 20 youths from selected universities were given the opportunity to interact and mingle with senior executives to glean important information for their career journey. The workshop was hosted in an engaging and fun atmosphere making it easy for the participants to share their fears and receive answers to bugging questions. Career insight workshop will be held annually and continues to be a platform for young people to be empowered in taking a strong stance on their future
Our commitment to growing Micro, Small and Medium-scale Enterprises (MSMEs) cannot be overemphasized, as they form the bedrock of the nation's economy and drive economic growth from the grassroots of the society. Therefore, Keystone Bank in collaboration with the Enugu State Government’s Ministry of Commerce and Industry has financially supported 100 MSMEs in the state.
In May 2017, 100 entrepreneurs were endowed with a grant of ₦50,000 each to enhance their various trades and businesses, in execution of our campaign to continuously foster economic empowerment of local companies in Nigeria. Such partnerships boost our drive for financial inclusion of the un-banked in Nigeria, in line with Central Bank of Nigeria’s directive.
At Keystone bank we recognise the importance of the MSMEs to the development of the nation’s economy because they provide a means of employment generation, improvement of local technology, output diversification, development of indigenous entrepreneurship and forward integration with larger-scale industries.
WORLD BUSINESS FORUM
Keystone Bank, one of Nigeria’s leading financial institutions, has formed a strategic global partnership as the exclusive Bank Partner in Nigeria of the World Business Forum, probably the single biggest gathering of the world’s most influential business leaders and exceptional thought leaders. This massive event, organized by HSM is scheduled for September 12-13 in New York. Under the strategic partnership, Keystone Bank will serve as registration and payment centre for participants from Nigeria. Keystone Bank will also be allocated a space in the international exhibition hall of the forum, setting a record as the first company in Nigeria – or indeed the African continent – to feature in the World Business Forum New York, alongside some of the world’s most respected institutions.
COMMITMENT TO OUR PEOPLE
We provide a positive environment for our employees to realise their potential, and the best training to produce world-class professionals. We have a created a family of employees operating in line with global standards and committed to delivering a superior level of professionalism and experience to our customers and the communities where we operate.
COMMITMENT TO SHAREHOLDERS
Keystone Bank places strong emphasis on shareholders’ wealth maximization. Our strategic decisions are aimed at creating long-term value. We have consistently paid cash dividends to shareholders in the last two years. We also made a bonus issue (1 for 4) in the 2007 financial year. Our share price has delivered a capital gain in excess of 500 percent in the last two years.
We have created the right mix of structures, people, technology and an innovative working environment to continue to deliver exceptional performance that will see us emerge as one of the top five banks in Nigeria within the next 10 years. Our pan-African strategy is expanding with recent acquisition of a leading bank in Gambia and will position us across sategic African countries over the same period.
In Keystone Bank we operate in a way that minimizes our carbon footprint by building on sustainable practices aimed at reducing such environmental degradation thereof. We have continued in our efforts to reduce the use of paper in our general operations and hence the use of e-mails, portals and other e-channels is encouraged as work tools for members of staff. Information to customers is sent electronically, Bank statements sent via e-mails, except where hard copies are requested by the customer. To reduce energy consumption, we promote the use of electronic communications (such as video and audio conferencing), thereby reducing the need for air and road travels. We also have adopted energy efficient light bulbs bank-wide and use alternative source (solar) in powering our Automated Teller Machines (ATM). The Bank adopted a general policy that outlined its commitment to a clean and green environment thereby requiring all staff to be environmentally responsible.
This serves as a higher variant of the Quick Save account, targeted at financially excluded persons. However, the customer is expected to provide a valid form of identification.
Maximum single deposit: ₦50,000.00
Maximum cumulative deposit: N400,000 at any point in time
Mobile Banking or Funds Transfer daily limit:₦100,000.00
Zero opening balance
Interest Rate of 3.6 %
1. Fill and complete the online Account Opening Form (AOF)
2. Upload your passport photo
3. Go to your branch with valid ID or Third Party ID
4. Sign the AOF