Unity Bank To Shore-Up Retail Market With Technology

To further shore-up the bank’s cutting edge drive in banking product innovation, the Managing Director / Chief Executive Officer of Unity Bank Plc, Mrs. Tomi Somefun has said that the bank will be leveraging on technology to expand its retail business across the country.

The CEO who disclosed this on Thursday at the bank’s 11^th, Annual General Meeting (AGM) in Lagos, said innovations in the bank’s operations has continued to give it the needed right of place in the sector.

Responding further to shareholders comments on the bank 2016 financial performance, she explained that they have engaged experienced young professionals hands that will drive their E-banking business, which will be targeting the younger generation. She added that they are working on a new products that will be appealing to the youth market within the first quarter of 2018.

She assured shareholders that they are in the process of bringing local investors for capital injection to complement the external investors’ capital raising exercise. The new capital according to Somefun, will be deployed towards building enterprise risk management platforms, branches and channels improvement, overhauling of IT infrastructure, expanding manpower development, optimizing the banks electronic platforms and creating strong working capital for robust banking operation.

Responding to questions on the bank partnership with Bank of Industry (BOI) she said the Government Enterprise and Empowerment Programme (GEEP), is part of government financial inclusion initiative and social intervention programmes which provides access to affordable micro credit to Nigerian micro business owners, who hitherto were unable to access loans to grow their businesses.

She pointed out that following the execution of a Memorandum of Understanding (MoU) with BOI, Unity Bank will provide account opening services to qualified beneficiaries of GEEP nationwide, and these individual bank accounts will serve as channels for beneficiaries to receive loans disbursed by BoI.

On the future posture, the chairman of the company Thomas Etuh, said that the bank’s strategy will remain focused on serving the needs of our clients, achieving value for our shareholders, and building critical mass in the retail and commercial banking space. At the same time, we will focus on advancing the core activities of the bank through a broader range of financial products and services”

Photo Caption:

Fro Left: Company Secretary, Mr. Mohammed Shehu, Chairman of Board of Directors, Mr. Thomas A. Etuh, Managing Director/CEO, Mrs.  Tomi Somefun and Executive Director Corporate Planning & Compliance, Mrs. Aisha A. Abraham during the 11^th Annual General Meeting of Unity Bank Plc held at MUSON Centre, Lagos.