Sunday, March 26, 2023
  • Home
  • Connecting with Vanessa
  • Entertainment
  • Fashion & Beauty
    • Celebrity Style Crush
  • Lifestyle
  • News & Politics
    • International News
  • Relationship Beliefs
    • Connecting with Vanessa
    • Heartthrob
  • Religious Beliefs
  • HOME
  • NEWS
    • News
    • crime
    • Education
    • Health
    • International News
    • Naija News
    • Odd News
    • Politics
    • Sports
  • FASHION
    • Accessories
    • Beauty
    • Celebrity Style Crush
    • Foreign fashion
  • RELATIONSHIPS
    • Connecting with Vanessa
    • Hookups
    • Love & Marriage Tips
  • LIFESTYLE
    • Career Talks
    • Fitness
    • Food & Wine
    • Tourism
    • Weddings
  • RELIGIOUS BELIEFS
  • BUSINESS
  • EVENTS
No Result
View All Result
VON DIGEST
  • HOME
  • NEWS
    • News
    • crime
    • Education
    • Health
    • International News
    • Naija News
    • Odd News
    • Politics
    • Sports
  • FASHION
    • Accessories
    • Beauty
    • Celebrity Style Crush
    • Foreign fashion
  • RELATIONSHIPS
    • Connecting with Vanessa
    • Hookups
    • Love & Marriage Tips
  • LIFESTYLE
    • Career Talks
    • Fitness
    • Food & Wine
    • Tourism
    • Weddings
  • RELIGIOUS BELIEFS
  • BUSINESS
  • EVENTS
No Result
View All Result
VON DIGEST
No Result
View All Result
Home Business

Polaris Bank Has Been Transformed For Growth Says Bank’s CEO, Abiru

Vanessa by Vanessa
May 21, 2020
in Business, Politics
0
Polaris Bank Has Been Transformed For Growth Says Bank’s CEO, Abiru
16
SHARES
88
VIEWS
FacebookSTwitterLinkedinWhatsAppTelegram

Polaris Bank Has Been Transformed For Growth Says Bank’s CEO, Abiru

You might also like

Unity Bank Holds Financial Literacy Training for Students to Mark Global Money Week 

Wema Bank organises financial literacy programme for students to mark 2023 Global Financial literacy Day

FirstBank Announces Call For Application In The Third Edition Of Its Firstbank Management Associate Programme (Fmap)

Polaris Bank Managing Director/CEO, Tokunbo Abiru has said the Bank would leverage on its investment in cutting-edge information technology to harness emerging opportunities and mitigate the disruptive effect of the COVID-19 pandemic on its business.

 

Against the backdrop of the impressive financials of the Bank in 2019, the CEO noted in a special media interview held over the weekend that investment in technology infrastructure, comprehensive corporate transformation and a keen focus on customer experience would continue to give the Bank comparative advantage in the Nigerian financial services sector.

 

Mr. Abiru disclosed that the 2019 performance of the Bank was the result of a corporate transformation that started in September 2018 to help the Bank build a robust foundation for capital preservation and sustainable profitability.

 

According to him, while the Coronavirus pandemic would undoubtedly impact all economies and sectors, including Nigeria, Polaris Bank’s strong business focus, organizational efficiency, innovation and digitization will provide the winning edge against the emerging disruptions.

 

He also noted that Polaris Bank’s retail customer segments and commercial businesses will remain thriving and competitive, ensuring that the Bank continues to harness the value of its investments.

 

“The key drivers of the outcome as shown in the 2019 results were strong earnings from interest and non- interest income as well as through operational efficiency via cost containment, all resulting in a decent cost to income ratio. These measures are key initiatives of our on-going transformation programme,” Abiru said.

 

Speaking on the impact of COVID-19 on the economy, he noted that the COVID1-19 would adversely impact businesses both locally and globally, with credit quality being challenged, business market size already shrinking, and inflationary pressures mounting. He further explained that while no business can hardly outperform the environment where it operates, Polaris Bank will seek ways to maximize all available income sources; while also seeking ingenious means of containing the negative impact of the Coronavirus pandemic.

 

On the impact of technology on banking, Mr. Abiru outlined that the future of banking, like other sectors of the economy, will continue to be shaped by technology. “Just look around you, is there any area of our lives that technology is not reshaping? Why should banking be an exception? More so, if you look at the nature of our business, it lends itself to digital adaptations more than other areas of our lives. The world is a global village; just look at what is happening elsewhere, and you know it is only a matter of when will it catch up with you and not if. So, it is not so much of what I believe, it’s where the world is evidently heading,” Abiru said.

 

He reiterated that the vision of Polaris Bank remains to be a top, innovative and digital-led retail bank, a preferred partner that provides superior financial solutions to its customers and one that is not afraid to be different from the pack. “The Bank is currently on a corporate transformation journey, which focuses on five key pillars: process, technology, business strategy, brand, and culture alignment. With regards to technology, we have concluded the first phase of our I.T platform refresh to world-class servers and data centres, we are strengthening our cyber-security and network capacity, we have upgraded all our digital channels with robust offerings across mobile banking, internet banking, USSD, POS, ATMs, including agency banking etc. As we reposition our I.T infrastructure to world-class standards, we are implementing a robust digital transformation to actualise our vision of making Polaris a truly digital bank that makes banking more convenient with customised , value-adding product offerings,”

 

The CEO noted that with all the fundamentals competing well with its industry peers and above the regulatory minimum, Polaris Bank now stands on firmer ground with better margins, lower cost of operations for good returns to stakeholders. He noted that the successful turnaround of Polaris Bank has made it a classic testimony of the turnaround of a troubled bank through a regulator-induced intervention noting that from all indications, the future of the Bank is now very bright as evidenced by the improved prudential ratios.

 

Polaris Bank is a future-determining Bank committed to the delivery of industry-defining products, and services, across all the sectors of the Nigerian economy.

Related

Tags: #BBnaija2020#CentralBank#PolarisBank#Profit#UBAAfricaDay2020#WatchoutChallenge
Vanessa

Vanessa

I'm a journalist and relationship columnist. Nigeria Media Merit (NMMA) 1st Runner Up Award Recipient. I'm passionate about arts, entertainment,marriage, religion and politics. I love giving back to society.

Related Posts

Unity Bank Holds Financial Literacy Training for Students to Mark Global Money Week 
Business

Unity Bank Holds Financial Literacy Training for Students to Mark Global Money Week 

by Vanessa
March 24, 2023
Wema Bank organises financial literacy programme for students to mark 2023 Global Financial literacy Day
Business

Wema Bank organises financial literacy programme for students to mark 2023 Global Financial literacy Day

by Vanessa
March 24, 2023
Having a FirstBank Salary Account Can Ease Your Money Problems, Find Out How…
Business

FirstBank Announces Call For Application In The Third Edition Of Its Firstbank Management Associate Programme (Fmap)

by Vanessa
March 22, 2023
More Naira notes as banks get old notes deposited with CBN today
Business

More Naira notes as banks get old notes deposited with CBN today

by Vanessa
March 22, 2023
Tax Administrators Must Match The Pace Of Global Technological Advancements — CATA President
Business

Tax Administrators Must Match The Pace Of Global Technological Advancements — CATA President

by Vanessa
March 20, 2023
Next Post
Impeachment Move Against Akeredolu: Kalu Tells PDP What To Do

Covid-19: The Monster, Myth, Albeit The Realties - Kalu

Sponsored

Get Started

Read News in:

  • Beauty
  • Business
  • Career Talks
  • Celebrity Style Crush
  • crime
  • Education
  • Entertainment
  • Events
  • Fashion
  • Fitness
  • Food & Wine
  • Foreign fashion
  • Health
  • International News
  • Lifestyle
  • Love & Marriage Tips
  • Naija News
  • News
  • Odd News
  • Politics
  • Relationship Beliefs
  • Religious Beliefs
  • Sports
  • Tourism
  • Uncategorized
  • Weddings

Follow Us

Tweets by vondigest
Von Digest

VON Digest is a cross border news and magazine website for trending news, beauty and fashion, lifestyle and relationships talks..

Learn more

Categories

  • Beauty
  • Business
  • Career Talks
  • Celebrity Style Crush
  • crime
  • Education
  • Entertainment
  • Events
  • Fashion
  • Fitness
  • Food & Wine
  • Foreign fashion
  • Health
  • International News
  • Lifestyle
  • Love & Marriage Tips
  • Naija News
  • News
  • Odd News
  • Politics
  • Relationship Beliefs
  • Religious Beliefs
  • Sports
  • Tourism
  • Uncategorized
  • Weddings

About This Site

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Use

Recommended

Unity Bank Holds Financial Literacy Training for Students to Mark Global Money Week 
Business

Unity Bank Holds Financial Literacy Training for Students to Mark Global Money Week 

March 24, 2023
Primate Ayodele’s Fulfilled Prophecies On US Midterm Election Confirms His Global Status
News

Primate Ayodele’s Prophecy On Water Shortage, Mystery Disease, UK, US Economic Crisis Fulfilled

March 24, 2023
Wema Bank organises financial literacy programme for students to mark 2023 Global Financial literacy Day
Business

Wema Bank organises financial literacy programme for students to mark 2023 Global Financial literacy Day

March 24, 2023
Lagos Assembly Passes Bill On DNA, Forensic Centre
News

Ramadan: Let’s Imbibe Lessons In Piety, Tolerance, Speaker Obasa Tells Muslims

March 23, 2023

© 2020 VON Digest - All Rights Reserved

No Result
View All Result
  • Home
  • Connecting with Vanessa
  • Entertainment
  • Fashion & Beauty
    • Celebrity Style Crush
  • Lifestyle
  • News & Politics
    • International News
  • Relationship Beliefs
    • Connecting with Vanessa
    • Heartthrob
  • Religious Beliefs

© 2020 VON Digest - All Rights Reserved