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FBNBANK UK STANDS TALL AT 40, APPRECIATES ITS CUSTOMERS AND REGULATORS
FBNBANK UK STANDS TALL AT 40, APPRECIATES ITS CUSTOMERS AND REGULATORS
The event which had customers, members of government functionaries and the diplomatic community, regulators, captains of industries in attendance, was convened to appreciate the patronage and support the Bank had received since it opened its doors in the United Kingdom 40 years ago. As key stakeholders, they were instrumental to establishing the Bank as an important gateway to connect international markets in Africa, Europe and the rest of the world to the finest financial services solutions that the UK has to offer.
Guests at the event include Hon. Justice Olukayode Ariwoola GCON, Chief Justice of Nigeria; Oba Sen. Dr. Moshood Olalekan Ishola Balogun, Alliiwo II, Olubadan of Ibadan land; Ambassador Sarafa Tunji Isola, High Commissioner, Nigerian High Commission, UK; His Highness, Muhammadu Sanusi II, former Governor, Central Bank of Nigeria.
Other dignitaries that graced the occasion include Alhaji Umaru Abdul Mutallab, Nigerian businessman and former Chairman of FirstBank; Mohammed Indimi OFR, Chairman, Oriental Energy Resources.
Delivering his welcome address to the dignitaries and guests present, Sam Aiyere, Chief Executive Officer, FBN Bank UK Ltd said “since its establishment, our Bank has demonstrated an unmatched dexterity, serving as a gateway connecting international markets in Africa, Europe and the rest of the world to the finest financial services solution that the UK has to offer. Through its office in the UK and the Paris Branch, our Bank has continued to facilitate international trade between Africa and Europe while offering top-notch, world-class corporate, institutional, and private banking solutions to our esteemed customers.
We have recorded laudable achievement only because you stand solidly with us. Therefore, I dedicate the success of the past 40 years to all our stakeholders. Thank you for being the lever beneath our thrust”, he also added.
Appreciating the patronage and support extended to FBNBank UK, Dr. Adesola Adeduntan, CEO, FirstBank said “today we celebrate 40 years of unbroken business operations in the United Kingdom; 40 years of supporting and enabling dreams; 40 years of resilience and relevance; 40 years of trust, safety and security; 40 years of long-term value to all stakeholders; and 40 years of partnerships beyond borders. I believe the future is bright for FBN Bank UK. With our beautiful outing tonight, our Group stands out, once again, as one big and happy family of many parts.
In his speech, Godwin Emefiele, Governor, Central Bank of Nigeria highlighted that “FBNBank UK’s established presence in a leading global financial centre such as London ensures that FirstBank Group is well positioned to play an active role in the promotion of Africa as an investment destination, attract much needed capital to the continent and facilitate trade with other parts of the world. The presence of FirstBank in other countries outside Nigeria shows that the span of its impact is continent-wide. As you are headquartered in the largest economy on the continent, you have a unique role in also facilitating capital flows into other African countries and assisting their economic growth and development.
In addition, in his goodwill message, President Muhammedu Buhari, GCFR, President and Commander-in-chief, Federal Republic of Nigeria said “FirstBank has profoundly demonstrated a high level of nationalism by keeping the Nigerian dream at the heart of its business through constant evolution to birth agile financial services solution to suit the demands of its customers both home and abroad. Also, perhaps more than any other institution in its class, FirstBank has supported the Government by providing human resources at various times to booster much required professional expertise in various sectors of our economy.”
Established in the United Kingdom in 1982 as the London Branch of the First Bank of Nigeria Limited., FBNBank UK was initially established to service the UK banking requirements of Nigerian companies and FirstBank.
Later in November 2002, the Bank was incorporated in the UK as a registered and a wholly-owned subsidiary of First Bank of Nigeria Limited with offices in the City of London and has then developed into a much broader business in the gateway to Europe and beyond for African banks, companies and high net worth individuals.
8TH AFRICA: SENEGAL’S PRESIDENT, H.E MACKY SALL, HOSTS AFRIMA PRESIDENT, PLEDGES SUPPORT FOR THE ‘TERANGA’ EDITION
8TH AFRICA: SENEGAL’S PRESIDENT, H.E MACKY SALL, HOSTS AFRIMA PRESIDENT, PLEDGES SUPPORT FOR THE ‘TERANGA’ EDITION
Ahead of the highly anticipated 8th edition of the All-Africa Music Awards (AFRIMA) tagged ‘Teranga Edition’ scheduled to hold in Dakar, Senegal on 12-15 January 2023, the President of the Republic of Senegal, His Excellency, President Macky Sall, over the weekend, at his official residence in Dakar, hosted AFRIMA’s Executive Producer/President, Mr Mike Dada, assuring him of the government of Republic of Senegal’s unwavering support towards a successful hosting of AFRIMA in Senegal.
President Sall met with the AFRIMA President, after a world media conference/unveiling ceremony, held at the King Fahd Royal Palace hotel, in Dakar, on November 4, 2022, where Senegal was announced as the official host country by the African Union Commission and the International Committee of AFRIMA.
According to President Macky Sall, who is also the 2022 Chairperson of the African Union (AU) ‘’The present and future of Africa, particularly Senegal in this case, is very important to our government and the youths represent that future. AFRIMA speaks to the empowerment and engagement of young people in the creative economy as well as the celebration of our continent and global promotion of our cities for tourism benefits, hence the support and partnership from the Republic of Senegal. I am very happy and honoured to host the Teranga edition of the biggest music award in Africa, AFRIMA right here in Senegal, the people of Senegal are excited about this historical feat, given that this is the first time the awards will be held in a Francophone country”
He assured the AFRIMA team and the rest of the world of premium hospitality rights and support from the Senegalese government and her people, to ensure that the 8th AFRIMA will be an impactful, successful, and laudable affair for visitors and the people of Senegal.
On his part, the AFRIMA’s President and Executive Producer, Mr Dada thanked His Excellency, President Macky Sall, the government and the people of the Republic of Senegal for undertaking to partner with and host the 8th AFRIMA for the benefit of the Music industry in Africa in general and the creative economy in Senegal in particular. He promised on behalf of the International Committee of AFRIMA to ensure that the Teranga edition will go down in history as AFRIMA’s best and biggest edition so far.
As the whole world gears towards the 8th edition of the All Africa Music Awards, AFRIMA, which will be held from January 12 to 15, 2023, African music lovers are encouraged to keep voting intensively for their desired winners, using the voting portal live at www.afrima.org and take part in the events on social media platforms (IG/TikTok – @afrima.official; Facebook – Afrimawards; Twitter – @afrimaofficial; LinkedIn – AFRIMA). The voting process that determines winners at AFRIMA is audited by a globally renowned auditing firm, Pricewaterhousecoopers (PWC).
The event is scheduled to commence on Thursday, January 12, 2023, with a host Country Tour, Courtesy Visit to the President of the Host Country, school visit and gift presentation (as part of AFRIMA’s Corporate Social Responsibility), as well as welcome Soiree will be held on the same day at Hotel Terroui -Bi, Dakar. The 4-day event continues Friday, January 13, 2023, with the Africa Music Business Summit at Centre International de Conference Abdou Diouf (CICAD) and the AFRIMA Urban Music Fest at Grand Theatre; while the main rehearsals, media engagements and nominees’ exclusive party will be held on Saturday, January 14, 2023; the event will climax on Sunday, January 15, 2023, at the 15000 capacity Dakar Arena with the live Awards ceremony broadcast by 104 TV Stations to over 84 countries around the world.
In partnership with the African Union Commission, AFRIMA is the pinnacle of African music globally.
Polaris Bank rewards first set of winners in its ongoing ‘Save & Win’ promo
Polaris Bank rewards first set of winners in its ongoing ‘Save & Win’ promo
The Bank in a statement said that the 62 lucky winners emerged across the six geo-political zones, winning N100,000 each during the draw which held on Friday at its headquarters in Lagos is in commemoration of Nigeria’s 62nd Independence Anniversary.
The winners emerged through a transparent draw witnessed by officials of the Federal Competition and Consumer Protection Commission (FCCPC), and the Advertising Regulatory Commission of Nigeria (ARCON).
The draw was conducted using a hybrid media technology which enabled in-premises event as well as over 400 customers through the Bank’s virtual network and social media handles.
Speaking at the unveiling of the winners, Polaris Bank’s Group Head, Strategic Brand Management, Mr. Nduneche Ezurike, said that the event was significant because it was a testament of the Bank’s unwavering commitment to impact and enrich the lives of Nigerians.
Ezurike noted that the reward is aimed at encouraging more people, existing and prospective customers alike to save and invest their money. “In tough times like this, there is a compelling need to save, not only to win a prize, but also to plan for the rainy day,” he added.
He emphasised that customers can still participate in, or increase their chances of winning by depositing a minimum of N5,000 in their Savings account. He also noted that non-customers of the Bank can participate for a chance to win in the draws by opening a Polaris Savings account with N2,000 and growing same to N5,000 before the next draw date.
Ms. Susie Onwuka of the FCCPC; Doris Itegbe and Bolajoko Odusoga of ARCON attested to the free, fair and transparent draw that threw up the winners.
The representatives of the regulatory bodies commended the Bank for making good its promise to winners of the independence draws.
Below are four (4) ways to participate in the ongoing Polaris Save & Win promo:
- Download VULTe on iOS and the App store to open a Polaris Savings Account or dial USSD *833*0# on your phone or log into Polaris Bank savings portal at https://accounts.polarisbanklimited.com/opening/
- Grow your account by N5,000 or more for 30 days or 3 months to qualify for monthly & quarterly draws respectively; by N50,000 for 3 months to qualify for special draws.
- If your account is dormant, you can reactivate your account without visiting the Bank by simply logging into the portal: https://accounts.polarisbanklimited.com/reactivate/, accept the terms and conditions, and update the required details the Bank may need.
- Follow the Bank’s handles @polarisbankltd across all social media platforms or visit the website at www.polarisbanklimited.com to stay updated.
Polaris Bank, adjudged Digital Bank of the Year 2021 and 2022, is a future-determining Bank committed to delivering industry-defining products for individuals and businesses.
BUHARI CONGRATULATES FBN ON 40 YEARS OF CROSS-BORDER BANKING IN UK
BUHARI CONGRATULATES FBN ON 40 YEARS OF CROSS-BORDER BANKING IN UK
In a statement signed by the Special Adviser to the President on Media & Publicity, Femi Adesina, Buhari noted the competence and professionalism that have become the hallmark of the Bank for many years.
This includes winning and retaining the trust of customers in Nigeria, and beyond, like in the United Kingdom, and successfully consolidating on its benchmark of reliability and professionalism.
“As the FBN, United Kingdom celebrates 40 years anniversary, the President believes the strength and buoyancy of any country depend largely on the capacity of the banking sector, extolling the organization for steady rise and expansion, with remarkable awards for transparency, accountability, and reliability,” the statement reads.
Buhari however, congratulates FBNBank UK for the milestone, and well-deserved acceptance and credence, urging the bank to further leverage on its strengths to retain the trust and confidence of the banking public.
FBNBank UK is a wholly owned subsidiary of the First Bank of Nigeria Limited, an African bank with a rich heritage, established in 1894 as the first banking institution in Nigeria.
FBNBank UK is authorised by the UK’s Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA).
Operating in the City of London with a branch in Paris and a representative office in Lagos, FBNBank UK provides a range of domestic and international banking and financial services.
Interestingly, it is the international banking and treasury centre of FirstBank and acts as connecting hub between the group and its regulatory, financial and social partners. FBNBank UK equally provides world-class, cross border trade and investment services to institutions, corporates and individuals conducting business in and with Africa’s most dynamic and vibrant economies.
FBNBank UK has been operating in the United Kingdom since 1982 as the London Branch of the First Bank of Nigeria Limited.
It was initially established to service the UK banking requirements of Nigerian companies and FirstBank.
In November 2002, the Bank was incorporated in the UK as a registered and a wholly-owned subsidiary of First Bank of Nigeria Limited with offices in the City of London.
Since then, FBNBank UK has developed into a much broader business in the gateway to Europe and beyond for African banks, companies and high net worth individuals.
Agusto Upgrades EDC Nigeria Money Market Fund Rating To A(F)
Agusto Upgrades EDC Nigeria Money Market Fund Rating To A(F)
Agusto in its latest rating assessment report which covers the review period of August 2021 – August 2022 attributed the impressive performance to the Fund’s improved adherence to established guidelines, particularly in periods of significant asset growth as well as low exposure to credit and interest rate risks, adding that the rating also reflects the adequate internal credit assessments conducted on proposed counterparties and automated pre and post trade checks. The credible rating agency noted that “Overall, we considered EDC MMF’s exposure to credit and interest risk to be low. Its exposure to liquidity risk is also low to moderate the Fund’s investment. Risk management processes are adequate for the Fund’s operational level and it is growing net assets despite uncertainty in the macroeconomic environment .”
The high rating for EDC Nigeria Money Market Fund comes despite the nation’s weakening macroeconomic environment has the potential to heighten risk exposures and pressure investment performance, the report stated. It also identified challenges such as persistent depreciation of the nation’s Naira, and high inflationary trends would make holding investments in local currency unattractive and impact on the positive returns to unitholders.
Commenting, Mrs. Oluwayemisi Ogunmola, Managing Director of EDC Fund Management Limited, expressed excitement over the positive rating after holistic assessment of its operations by the globally recognized credit rating agency. She restated EDC’s commitment to ensure the Fund becomes the most preferred investment channel in the industry.
“This positive rating attest to the structures we have in place. Our remarkable performance in all the key rating indices shows that we are on the right path. We will continue to adhere to stipulated guidelines and regulatory requirements, settle redemption requests within 24-48 hours and make positive returns to unitholders despite the current harsh operating environment.” She stated.
EDC Fund Management Limited (‘EDC FML’ or ‘the Manager’) is the investment management subsidiary of Ecobank Development Corporation. The Manager was established in 2012 and licensed by the Securities & Exchange Commission (SEC) to carry out fund and portfolio management activities in Nigeria. EDC FML provides a broad range of advisory services including privatisation, mergers and acquisitions, structured trade financing, underwriting and syndication to sectors such as telecommunications, mining, transportation, power, oil and gas, construction and manufacturing
All Is Set For The 3rd Edition Of ‘All Colour Awards’ In December 2022 Like Never Before
All Is Set For The 3rd Edition Of ‘All Colour Awards’ In December 2022 Like Never Before
In preparation for the event, the Advisory Board and the Selection Panels of the awards are doing what they know how to do best to have quality and credible recipients for the 3rd edition like never before. All Colour Awards 2022 nominees/recipients would be selected via vigorous credibility tasking process by a clinically selected body of judges.
The laudable event to beat and copy- All Colour Awards with limitless imagination and bold execution to foster unity and positioned to soar winners beyond known boundaries is definitely an event in December to remember right from the colourful red carpet to the lecture and the presentation of different awards to the recipients in different sectors.
The exclusive event to usher new hope for Nigerians come 2023 is set to take the centre stage as a spectacular gala for all tradition, all costumes and all glamour in grand style.
It is in the spirit of making merry with the A-list awardees in various industries in Nigeria and Diaspora for brand leverage, trend attraction, business and human networking and above all to promote unity in our great country, Nigeria.
Mr. Kanbi Owolabi, the principal consultant of All Colour Awards disclosed that his company,
and the board of awards are very thankful to the individuals and organizations that have shown interest to be part of this laudable project as he implores other corporate organizations to come on board as veritable stakeholders and sponsors of a bigger and better awards which is now the talk of the town.
This year unique 3-in-1 colourful event to mark the 3rd edition is set to make a statement nationally and bring about streams of opportunities to converge on by all awardees, participating guests and sponsors.
All Colour Awards (ACA 2022) is billed to take place on Sunday December 11, 2022 at Abelinis Event Hub, located at No. 1, Erinola Salako Street, Behind Excellence Hotel, Ogba-Ikeja, Lagos, Nigeria.
The industry watchers disclosed that it is a veritable platform for awardees to leverage and increase their perception profile. And, they further noted that ‘It’s not just an award but a memorable event that will help the recipients gain strong recognition and consumer empathy’.
For your information, the awardees/recipients at the 2nd edition of All Colour Awards last year are: VDT Communications Limited -Best Broadband Service Provider of the Year; Chain Reactions Nigeria -Best PR & Integrated Communications Agency of the Year; Aremolekun Care Foundation – Most Outstanding Humanitarian Foundation of the Year; Mr. Gboyega Akosile – Most Outstanding Chief Press Secretary on Media Engagement of the Year; Samovic Homes & Properties Limited – Most Enterprising Real Estate Company of the Year; Hadassah Makeup Professional – Most Innovative Makeup Brand of the Year; Orateur Integrated Limited – Most Outstanding Trading Company of the Year; Dr. Lucky Omokhodion -Most Outstanding Business Personality of the Year; Mr. Bestman Nze-Jumbo -Best Alternative Security Consultant & Personality of the Year; Hannax Consulting Limited – Best Architectural Design & Construction Company of the Year; Deborah Ewedafe Macaulay – Best Movie Producer in Diaspora of the Year; Treasure Minds Media – Best Studio & Production Equipment Company of the Year; King Segun Blessing (KSB) – Most Outstanding Juju Musician of the Year; Jire Ogunleye – Most Promising Actor in Nollywood of the Year; Dele Gold (JP) – Most Outstanding Evergreen Gospel Musician of the Year.
The organizers further disclosed that specifics will be communicated as events unfold.
SAVING IMO STATE ZOO AS A HERITAGE – NAZAP
SAVING IMO STATE ZOO AS A HERITAGE – NAZAP
As a result, there is heightened anxiety from Environmental and Conservation stakeholders on the quantum of biodiversity loss that would occur in the event of such closure, which would entail massive translocation of wildlife species from such a major Zoo.
NAZAP has thus written to the Government of Imo State seeking the veracity of this disturbing information, considering that the Zoo is one of the thriving Zoos in the country that had recently undergone massive enhancement.
As the apex ex-situ wildlife curators Association, NAZAP is taken aback that no consultation has been made with the body as to such alleged intended closure.
May we recall the recent launching of Imo Hope Green Revolution that was flagged off by His Excellency the Goveror, which is a campaign for tree planting and nature conservation. The Governor had earlier made far reaching promises to protect Imo State Zoo and upgrade it to international standards, when he hosted NAZAP and other wildlife stakeholders during the 2020 World Wildlife Day commemoration in Owerri, Imo State.
If the Governor made these promises to the public and global conservation stakeholders, then we cannot be traumatised so soon by what appears to be a policy somersault. We should therefore hold the Imo State Government to its avowed principles and policy statements, otherwise our image as proud citizens of Nigeria, will be rubbished in the comity of nations.
The Imo State Zoo is a key member of NAZAP and amongst the earliest that blazed the trail in national zoo development. Its in-situ conservation scheme is registered amongst international conservation stakeholders, both in the index of livable cities, climate change and in the aspects of sustainable development.
Our pioneer NAZAP Year Book has equally listed Imo State Zoo amongst its thriving national assets, thus deserving a pride of place.
We will be saddened by this turn of event, if true, especially as the zoo is now the only surviving zoo in the South East of Nigeria.
Bringing closure to this facility, as being alleged, will be a costly narrative for conservation education, research and tourism in Nigeria, in view of the Zoo’s status as a major facility for field practical training of students, renewable natural resource, environmental, ecological and biological sciences Centre.
NAZAP has thus advanced the option of encouraging pertinent partnerships with prospective private sector investors in ensuring the zoo’s overall development and sustainability.
However, in the event of any properly planned relocation of any zoo, the intended new location is meant to be fully developed before the animals are translocated. In contemplating the movement of a large number of animals, many of which are on the threatened or endangered list, the strategic and technical inputs of several agencies such as NESREA, VCRN, WISON and the National Park Service, including NAZAP should be factored.
In conclusion, there is every need for such exercises as Zoo closure to be appropriately guided to guard against untoward logistical or ecological eventualities. It is in the light of the above relevant circumstances that we advise that the State Government initiate the required protocols of engagement with the above stated professional stakeholders, if indeed the closure of such a facility is contemplated.
PRUDENTIAL AFRICA LEADS INDUSTRY WITH HIGHEST NUMBER OF MILLION DOLLAR ROUND TABLE (MDRT) QUALIFIERS
PRUDENTIAL AFRICA LEADS INDUSTRY WITH HIGHEST NUMBER OF MILLION DOLLAR ROUND TABLE (MDRT) QUALIFIERS
Million Dollar Round Table (MDRT) is the global Premier Association of Financial Professionals. MDRT members lead the global financial services profession in professional knowledge, ethical conduct, and client service. Members are recognized as setting the international standard of excellence in the financial services field, meeting unique client needs in the evolving landscape of modern personal finance while adhering to a strict code of ethics.
These results reflect the strong performance of Prudential in Africa, with Annual Premium Equivalent (APE) sales growing by 17 per cent year-on-year as announced by the Group in its 2022 half year financial results. Six of its eight markets recorded double-digit growth in APE sales.
Nick Holder, Chief Operating Officer, Prudential Africa, said that: “Prudential Africa continues to focus on investing in its distribution channels to support the health and protection needs of its customers. We continue to equip our agency force and financial service consultants with digital capabilities to connect and engage with customers as well as provide personalised advice. Our multi-channel and integrated distribution strategy is able to adapt to evolving customer needs and local market conditions, and positions us well to capture growth opportunities”.
Prudential Zenith Life Insurance Ltd (PZL) is a subsidiary of Prudential Plc., established in 2017 when Prudential Plc acquired a 51% holding in Zenith Life Insurance. PZL is one of the most capitalized companies in the Nigerian insurance industry with a wide range of individual products including savings & investments-linked products, endowment, and protection products designed to meet the needs of individuals and their families. For corporate clients, the company’s product offerings include Group Life, Key-Man Assurance, Credit Life, School Fees Protection, and Mortgage Protection, ensuring that the welfare of clients’ staff and families are met.
Prudential Plc provides life and health insurance, and asset management in Africa and Asia, helping people get the most out of life by making healthcare affordable and accessible and by promoting financial inclusion. Prudential protects people’s wealth, helps them grow their assets, and empowers them to save for their goals. It has more than 19 million life customers and is listed on stock exchanges in London (PRU), Hong Kong (2378), Singapore (K6S), and New York (PUK).
Prudential Plc has insurance operations in eight countries in Africa: Nigeria, Cameroon, Cote d’Ivoire, Ghana, Kenya, Togo Uganda, and Zambia. With over 1 million customers, Prudential Africa works with over 11,000 agents and six exclusive bank partnerships, with access to over 600 branches to bring value-added insurance solutions to its customers.
Polaris Bank’s VULTe Pulls Ahead, Wins Double as Nigeria’s Best Digital Bank
Polaris Bank’s VULTe Pulls Ahead, Wins Double as Nigeria’s Best Digital Bank
…wins MSME Bank of the Year Award too
VULTe, is a digital bank solution designed to enable customers consummate every banking transaction, from account opening, through requesting for certain categories of loans, to generating bank statements. It also connects the customer to discover lifestyle trends and social events. It is an all-in-one solution that is created to offer the most convenience for customers and built to understand the needs of the customer and provide solutions to everyday challenges of accessing financial service solutions.
In the last 12 months, VULTe which hitherto caters more to individual customers, now has enhanced capabilities to render seamless self-services to SMEs, High Net worth, and retail customers. The over 40million MSME operators in Nigeria could now access collateral-free loans for personal and business purposes; where eligible entrepreneurs and SME operators could apply and get up to N20million in a space of 5 minutes without visiting the Bank in person.
Symbolically, VULTe has made another significant history in the Nigerian banking and financial services sector by emerging the winner of the prestigious BAFI Awards back-to-back having won the same award last year. BusinessDAY is Nigeria and Africa’s leading and most respected business media group and organisers of numerous respected awards in the financial sector, as well as in other key sectors of the economy.
The Nigerian Fintech Awards on other hand is Nigeria’s biggest and most recognised Fintech award. The awards presentation ceremonies took place on Friday and Saturday in Lagos.
In the citation of Polaris Bank’s VULTe read by the organisers of The Fintech Awards 2022 shortly before the presentation of the award of Best Digital Bank, VULTe was preferred ahead of others in its competitive set on certain key parameters.
These include convenience, intuitiveness, trust and efficacious management system.
“For a digital bank that provides convenient account opening in minutes, intuitive loan application, scheduled payments, personal digital card management, trustworthy security, and personal finance management, VULTe by Polaris Bank is hereby declared the winner of the Best Digital Bank category,” the organisers announced.
Similarly, while presenting the Best Digital Bank award to the Bank, BAFI Awards organisers disclosed that the awards selection/review committee voted Polaris Bank’s VULTe the winner having outperformed its industry peers, like ALAT and OneBank across eight metrics for consideration.
The metrics include strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, and platform security.
Other metrics are the breadth of product offerings for retail and corporate clients, evidence of tangible benefits gained from digital initiatives and web/mobile site design, intuitiveness and functionality.
At the same BAFI Awards Polaris Bank was declared ‘MSME Bank of the Year’ ahead of FCMB and Fidelity Bank in what the organisers described as the Bank’s expansive impact on MSME operators across Nigeria.
Polaris Bank in May this year launched a N1billion fund for MSMEs in partnership with Lagos State Employment Trust Fund (LSETF) in what the Bank explained was aimed at providing the much-needed funding to create wealth and empower entrepreneurs and players within the MSME space in Nigeria, starting with Lagos.
Prior to the launch of the N1billion MSME Fund, Polaris Bank had committed, and indeed, provided multibillion financing to MSME operators across sectors, health inclusive among other incentives, like moratorium on facilities granted to cushion the impact of the COVID-19 pandemic on businesses.
Polaris Bank is a digitally enabled Bank focused on providing superior financial solutions and products to its customers across sectors with industry-specific and individual needs.