SunTrust was incorporated and founded in 2009 by Chief Executive, Muhammad Jibrin Barde as a mortgage bank and later converted to and was granted a regional commercial banking license by the Central Bank of Nigeria in November 2015, being the first commercial bank to receive a banking license since 2001, bringing the total of licensed commercial banks in Nigeria, at that time, to twenty-three. The bank opened for business to the public on 15 August 2016. In April 2018, STBNL was awarded the ISO/IEC 20071:2013 Certification by the Professional Evaluation and Certification Board (PECB), a Canadian certification body. At the same time, it was awarded the Payment Card Industry Data Security Standard (PCIDSS), by Digital Jewels, an IT consulting firm, focusing on IT governance, risk & compliance in Information Security, Information Assurance and Project Management