{"id":63410,"date":"2022-08-05T12:34:09","date_gmt":"2022-08-05T11:34:09","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=63410"},"modified":"2022-08-05T12:40:47","modified_gmt":"2022-08-05T11:40:47","slug":"re-online-publication-on-purported-sale-of-polaris-bank","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/re-online-publication-on-purported-sale-of-polaris-bank\/","title":{"rendered":"RE: Online Publication on Purported Sale of Polaris Bank"},"content":{"rendered":"<p>Our attention has been drawn to an online report on the purported sale of Polaris Bank Limited.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-29746 alignright\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/02\/A-Polaris-Bank-Limited-300x300.jpg\" alt=\"\" width=\"300\" height=\"300\" srcset=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/02\/A-Polaris-Bank-Limited-300x300.jpg 300w, https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/02\/A-Polaris-Bank-Limited-150x150.jpg 150w, https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/02\/A-Polaris-Bank-Limited-250x250.jpg 250w, https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/02\/A-Polaris-Bank-Limited-125x125.jpg 125w, https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/02\/A-Polaris-Bank-Limited-110x110.jpg 110w, https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/02\/A-Polaris-Bank-Limited.jpg 400w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>This publication is speculative, deliberately intended to create panic and should be disregarded by the banking public.<\/p>\n<p>Stakeholders may recall the regulatory intervention in the erstwhile Skye Bank by the CBN and the subsequent injection of capital via the Asset Management Corporation of Nigeria (AMCON) through a bridge bank process, which birthed Polaris Bank in 2018. The bank has since stabilized its operations following the intervention; improving its balance sheet, customer base and profitability.<\/p>\n<p>Whilst the intention has always been to return the bank to private ownership, such a sale would occur following regulatory approvals with formal notification to all relevant stakeholders. The Bank is committed to ensuring timely communication to the public in such an event.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>The Board and Management hereby reassure its customers, staff and the general public that Polaris Bank remains a stable, strong and credible financial institution, positioned to deliver sustainable value to all its stakeholders.<\/p>\n<p>Signed<br \/>\nManagement<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Our attention has been drawn to an online report on the purported sale of Polaris Bank Limited.\u00a0<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":29746,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[4565],"coauthors":[2391],"class_list":["post-63410","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-polaris-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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