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Polaris Bank Launches ‘Refer & Win’ Reward for VULTe Users

Innocent C. Ike

Polaris Bank has announced the launch of a new reward: ‘Refer & Win’ exercise in which existing and new users of the Bank’s digital banking platform, VULTe, stand a chance to win up to N1,300 instant cash reward each time they refer someone who opens an account and enrolls on the newly-launched innovative digital solution. 

To benefit from the reward initiative, all a referrer (who could be an existing customer or non-customer of the Bank) needs do, is to refer a new user to open a Polaris Bank account by enrolling on the VULTe digital bank platform, while for every referral completed, both the referrer and referred’s account will be credited with N300 and N200 respectively, instantly. 

Speaking on the new reward initiative, Polaris Bank’s Managing Director/CEO, Mr. Innocent C. Ike, said the Referral Campaign is aimed at positioning VULTe as a unique digital solution to reward both the existing and new customers of the Bank. 

‘‘VULTe stands out as a very unique innovative digital bank platform in many respects. It not only provides users unique offerings as a self-service solution, it also offers convenience, speed and reliability on the go. The Referral Campaign aligns with our Bank’s commitment to provide new experience and easier accessibility to banking services for all customers, and to reward them for their continued loyalty,’’ he said.  

While encouraging existing and new customers to take advantage of the ‘Refer & Win’ exercise to increase their savings and earn extra money, the Polaris CEO added that the campaign is a season of reward for staff, customers and non-customers of the Bank once their referrers successfully enroll on the Polaris Bank’s VULTe platform. 

Polaris Bank’s Chief Digital Officer, Mr. Dele Adeyinka, while explaining the mechanics for participating in the reward exercise, disclosed that participants are required to enroll, fetch their referral code from VULTe and share with prospects.

‘‘The referral code is the indicator to the individual that introduced the Application to the new user. This, will also be used, in aggregating the total payout due to the referrer,’’ he said.

Adeyinka added that the participants will only qualify for rewards, after the referred have successfully set up an account on VULTe.

The campaign, he explained further, is split into two reward categories, and a referrer will be paid for referring users based on the account level/referred customer category. Category one is where the customer opens and completes an account on VULTe using Bank Verification Number (BVN). 

According to the CDO, for a new user that is successfully enrolled under category one, the referrer will earn a maximum of N300 per referral; while the referred earns N200.

For category two, a customer is required to open an account with Know-Your-Customer (KYC) information supplied on VULTe, plus obtaining a debit card through the platform. A referrer earns N1,300 per referral and N200 for the referred; that is additional N1,000 from the N300 base amount from category one. 

‘The referral figures will automatically display on VULTe as the enrolment process is complete and the participants can log on VULTe app to check performance. So, for each successfully completed referred enrollment, winnings will be credited into the participant’s account immediately’’, Adeyinka explained.

He assured participants that the reward programme is transparent, and promised that Polaris Bank would continue to delight its customers and non-customers with innovative services that can make life, lot better.  

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.

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VULTe by Polaris Bank

Excitement Heralds the launch of Polaris Bank digital bank, VULTe

…Customers and Non-Customers of the Bank to Use Platform

Polaris Bank Executive Vulte Launch

Polaris Bank on Tuesday launched its much anticipated digital banking platform, VULTe.

In his welcome address at the well-attended unveiling ceremony which held at Eko Hotel, Lagos and virtually to national and global audience, Chairman of the Bank, M.K Ahmad (OON) disclosed that the corporate goal of Polaris is to offer customers and non-customers of the Bank, a 24-hour seamless service over two years ago when the Polaris journey started which led to the pursuit and now actualization of VULTe.

“This is a milestone in our pursuit of a strong and digitally-led retail brand. When we started the Polaris journey almost three years ago, we were very clear on the type of Bank we must build and the direction we must go. This was largely informed by the fast pace of change in financial service provisioning and the apparent technology-defined outlook of our business."

"We are therefore bringing VULTe to the market place today. And this is not another mobile App, but one with a world of difference, a mobile digital bank. This is your Bank in your hand, affording you total Control of your financial service needs. With VULTe, you serve yourself, the way you want to be served,” the Chairman explained.

In his keynote address, the Acting Managing Director/CEO of the Bank, Mr. Innocent C. Ike said the newly-launched banking platform, is returning all powers to the customer as king. He noted that customers are now at liberty to enjoy unhindered, contactless and refreshing banking experience all at the tip of their fingers thanks to the newly launched VULTe app.

“With VULTe, we affirm our resolve to serve the customer better and make their banking experience, more pleasurable. Therefore, we will continue to launch an array of banking products to cater to the varying needs of our diverse customers.”

Explaining the premium value the Bank places on its customer with the VULTe, Ike said: “Ultimately, VULTe represents our bold declaration to hand over CONTROL of banking services to our customers and allow them to serve themselves as they would want to be served.

“As a Polaris Bank customer, you are at liberty to determine your banking experience since we have put the Bank in your hand 24/7. You now have total CONTROL to serve yourself; it’s no more customer service but customer self-service.

“Are you opening an account, setting limits on your account, verifying your identity documents, registering your biometrics, making inquiries, taking an instant loan? You are in total CONTROL – you do it at your time, at your convenience, and on your terms – you determine how delightful your banking experience will be”.

The highlight of the launching was the practical demonstration of the uniqueness of the VULTe application by the Bank's Chief Digital Officer, Mr. Bamidele Adeyinka to the excited guests.

According to him; “The Digital Banking Platform, VULTE, will change everything that happens in the ‘brick & mortar’ space (i.e. branches) to clicks and buttons.”

“The VULTE comes in mobile (Android and iOS) and Web Applications and it allows customers with either of the options, to access banking services at the click of the button,” he added.

The CDO explained that all Bank customers in the country can take advantage of the VULTe to carry out their banking transactions including account opening, bills payments, transfers, balance enquiry, airtime rechage and quick loans.

He further stated that on-boarded customers will be able to access PayDay Loan on both mobile and web digital platform where eligibility will be displayed to the customer within the VULTe application.

Also, on-boarded customers will be enabled to pay taxes and levies for different government parastatals in addition to several other benefits such as ability to perform intra-bank and inter-bank transfers.

“To onboard, customers with BVN will input their BVN and take a selfie (photo of their face) which will be compared automatically with the photo on their BVN profile (via Facial Recognition – an advanced cognitive and artificial intelligence facial recognition technology),” the CDO disclosed.

Meanwhile, the Bank also announced special reward packages for early users of the VULTe app. Reeling out giveaways and free gifts, Mr. Muhammed Abdullahi, Executive Director, Abuja and Northern Region of the Bank said: “For your loyalty and positive acceptance of VULTe and all other banking services offered by Polaris Bank, on behalf of the Board, Management and Staff, I'm happy to announce some mouthwatering offers to everyone following us to mark this occassion.

“Consequently, please note that the first 2000 persons who download VULTe from Appstore or PlayStore and make a transaction on the platform, stand to win a collection.of beautiful mementos like;  Mugs, Michael Cable Charger, Key Rings, Pop Socket among other collection of gifts,” the ED said.

The launch event had in attendance representatives of Central Bank of Nigeria (CBN), key Financial Technology (FinTechs) industry players and strategic partners of Polaris Bank who all in their goodwill messages attested to the bank’s unwavering determination to ensuring quality customer satisfaction at all times.

Some of the dignitaries include: Prof. Olayinka David-West, Dean, Information Systems, Lagos Business School (LBS); Chief Demola Aladekomo, Chairman, Chams, Plc; Agada Apochi, Managing Director, Unified Payment Systems; Babatunde Okeniyi Managing Director, PayAttitude amongst others.

Others include: AyoTunde Coker, MD Rack Center; Funke Opeke, MD Main-One; Jimi Awosika Group Vice Chairman Troyka/Insight; Akin Banuso, County General Manager, Microsoft; Dr. Ken Ikpe, Group CEO Insight Redefini; Paul Mosimabale Upperlink Co-founder; Obi Emetarom, Appzone Limited MD and Mrs Abiola Laseinde, MD Edniesal Consulting.

VULTe by Polaris Bank

Polaris Bank set to Boost Nigerian’s Digital Banking Ecosystem, Unveils a New Digital Bank.

VULTE PROMOTIONAL AF IMAGE

With the rising opportunities in the e-payment systems accelerated by the COVID-19 era sweeping across the world, there are indications that one of Nigeria's leading retail franchise, Polaris Bank, has thrown its hat into the ring as it unveils a new digital Bank. 

Feelers indicate that the Bank's new Digital Bank which has for some time been in test mode amongst its staff and customers is set to grow its market share, targeting a new generation of digital natives and immigrants who are socially and financially aware of innovations in self-service and stress-free transactions.    

According to industry players, the long wait which greeted the launch was to ensure that the platform is robust enough to meet prevailing global standards and support other existing entities in the digital banking ecosystem. 

As part of its enterprise transformation initiatives, the Bank has overhauled its IT infrastructure within the last two years and upgraded its digital capability. According to the Bank's Managing Director/CEO, Innocent Ike, "this has seen the institution grow to earn the confidence of the banking publics, as it has been able to offer quality banking services at the cutting edge of technology." The plaudits which greeted the Bank's recently published 2020 financial performance has further earned the Bank's digital transformation efforts a shot in the arm.

Polaris Bank's digital Bank offers a suite of services not readily provided by competitors. Some of such bundled benefits include access to instant loans, accessing the platform service without being a prior customer of the Bank, and end-to-end account opening without entering a physical bank. 

One of the competitive benefits of the Bank is its creation of a collaborative ecosystem that enables Application Programming Interface (API) Banking. API banking refers to a system that makes a bank's services available to other third-party companies via APIs. API Banking helps both banks and third-party companies augment their complementary specialties and offerings more than they can provide to their customers by themselves.

Through its API, Polaris Bank is reported to have so far on-boarded new business start-ups, improved their market access, and ensured profit sharing with partners within the financial technology space. The Agro-businesses, educational institutions, e-commerce, are all set to benefit from the Bank's platform.

According to recent data released by the Nigeria Interbank Settlement System (NIBSS), the volume of electronic payment transactions increased by 80 percent year-on-year to 54.07 billion in the first quarter of 2021 from 30.04 billion in the same period of last year.

As a result of the rise in e-payment transactions, income generated by banks via electronic channel transactions also increased by around 52 percent to N53.4 billion in the period under review compared with N35.2 billion in the same period of last year.

With the grand entry of Polaris Bank into the digital Banking space, it is expected that at the close of 2021, the 2020 NIBSS figures will grow exponentially and bolster the overall performance of the country's e-payment ecosystem. Indeed, many youngsters and digital native enterprises constitute most of the population and the early adopters of digital innovation and lifestyle.

Polaris Bank is a future-determining bank committed to delivering industry-defining products, services, and digital platforms across all the sectors of the Nigerian economy. The Bank is a member of the United Nations Environment Programme Finance Initiative (UNEP FI), which seeks to engage the private sector and the global financial sector to help create a financial sector that serves people and the planet while delivering positive impact.

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Polaris Bank Sustains Profit Growth with N28.9bn (PBT) in 2020 financial year

Innocent C. Ike

Innocent C. Ike. Acting MD/CEO

  • Records 4% increase in Profit Before Tax (PBT) Year-on-Year despite challenging business environment
  • …Assets hit N2tr and ROA of 2.4%
  • Performance indicates management depth and sustainability

Polaris Bank Limited has released its full-year audited financial results for the year ended December 2020 posting a Profit Before Tax (PBT) of N28.9billion. The results which show the Bank’s second year performance scorecard after two years of operation, have further consolidated the Bank’s position as focused on the path of profitability, growth, and value creation.

Details of the results show that its year 2020 performance reflects a 4% Year on Year (YoY) increase in Profit before Tax (PBT). The performance according to the financial statements is driven by the combination of the significant reduction in interest expense due to the Bank’s pursuit of low interest-bearing deposits as well as lowering impairment charges on loans and other financial assets. The Bank recorded Return on Asset (ROA) and Return on Equity (ROE) of 2.4% and 29.4% respectively which favorably place the Bank as a key player in the industry. The Bank’s Total Assets stood at N1.18trillion, a 3% growth on the previous year while Shareholders Funds grew by N14billion (17%), largely attributable to internally generated profits. The Bank increased its Customer Deposits by N56billion, predominantly low-cost deposits in spite of difficult economic and industry conditions, and increased its gross loan book by N38biilion reflecting the Bank’s modest and prudent risk strategy to grow its Portfolio of Quality loans for optimal interest income generation. 

Commenting on the Bank’s performance, the Managing Director/Chief Executive Officer (MD/CEO) of Polaris Bank Limited, Mr. Innocent C. Ike who took over in the course of the year from Mr. (now Senator) Tokunbo Abiru explained that “Polaris Bank has achieved significant milestones since its inception in September 21, 2018 when we started this journey. We have since grown to earn the confidence of the banking publics, offering quality banking services at the cutting edge of technology”. Continuing, he noted, “2020 was arguably the most challenging year that the world has faced in decades owing to the negative impact of COVID-19 on businesses and the economy. Yet, the current result demonstrates the importance of the deployment of appropriate strategies, and effectively validates our recent investment in technology solutions and digitization of our products and processes,” he added.

He explained that the Bank’s subsisting three-year Corporate Transformation Plan has recently been reviewed in line with the changing operating environment and trend dynamism for sustainable value creation. Digital transformation remains one of the potent strategies to strengthen the Bank’s balance sheet, control costs, and improve processes while providing clients with wider self-service offerings.

In the view of some financial analysts, Polaris Bank’s remarkable achievements in 2020 are a testament of her consolidation of its 2019 performance, relevance of the Bank’s new Corporate Strategy, management depth and good Corporate Governance.

The Board and Management of Polaris Bank have demonstrated strong commitment towards professionalism and business ethics by upholding sound risk management practices and proactively taking measures to ensure the Bank is on the path of value creation and sustainability. Polaris Bank’s performance in FY’20 reflects commendable improvements in key performance indicators, assuring a strong positive outlook for earnings, margins and profitability, a cautious pursuit of loan growth, a sustained strategy for operational efficiency, funding cost optimization, and efficient deposit mix. The headroom for loan creation no doubt presents an opportunity for improved margins.

Going into the year 2021 and despite the challenging macroeconomic environment, the Bank is poised to reap the benefits of its investment in both digitization and the capacity of its employees to improve service experience.

Polaris Bank is a future-determining bank committed to delivering industry-defining products, services, and digital platforms across all the sectors of the Nigerian economy. The Bank is a member of the United Nations Environment Programme Finance Initiative (UNEP FI), which seeks to engage the private sector and the global financial sector to help create a financial sector that serves people and the planet while delivering positive impact.

  

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POLARIS BANK N26M Promo Offer: Customers Warm Up for ‘Grand Finale

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Polaris Bank savings customers are gearing up for the grand finale of the ongoing nationwide ‘  Save & Win’ promo, which is scheduled to hold in April 2021.

At the end of the ‘Save & Win’ Millionaire promo, a total of N26,000,000 would have been won by 188 Polaris Bank customers nationwide. The promo has so far recorded two draws in February and March with the Grande-finale scheduled for April 2021.

The grand finale draw will see Six millionaires emerge from the six geo-political zones of Nigeria and 60 other customers will go home with a consolation sum of N100,000 each. All winners will emerge through a transparent, electronically-generated process that regulatory institutions will supervise. 

The 'Save & Win' promo aims to make millionaires of Nigerians by encouraging current and new customers to save a minimum of N10,000 monthly. The ‘Save & Win’ promo was launched in November 2020, and so far, two millionaires: Lucky Okunzuwa, a customer of Akpakpava branch in Benin City, Edo State and Ikechukwu Bartholomew Obiefuna, a customer of Okeke Street Branch, Awka, Anambra State, have emerged. In addition, 120 customers have also walked away with N100,000 each across the previous two draws which took place on the 9th of February and 9th of March, bringing the total amount won to N14,000,000 so far.

Commenting on their win, both the first and second millionaire, Lucky and Ikechukwu expressed immense appreciation to the Bank and had positive things to say on the Save & Win promo cash prize.

‘‘I am very delighted about winning one million naira in the Polaris Bank Save & Win Promo. It was like a dream when I was told but this is a reality. The money will go a long way in supporting my small business to grow. I also commit to continue to save more. I sincerely thank Polaris Bank for this novel initiative,’’ lucky remarked.

Representatives from relevant regulatory bodies have also attested to the free, fair and transparent process of the draw used in selecting the winners. They also commended the Bank for keeping its promise to the winners.

Giving a background to what informed the Promo, Polaris Bank's Acting Managing Director/CEO, Mr. Innocent C. Ike, said, “it is a reward for our customers, who despite the challenging times, can put aside some money as savings. He reiterated that in not-so-pleasant economic times, there is a compelling need to save – not only to win a prize – but also to plan for the rainy day. He disclosed that “both existing and new savings account customers of the Bank are eligible to participate in the promo.”

Savings Account accessibility is swift and straightforward in Polaris Bank. Prospective customers can dial *833*0# on their phones to follow the prompt to create or reactivate their savings account from their devices by visiting https://accounts.polarisbanklimited.com/opening/ or any of the Bank’s branches across the country.

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

Polaris Bank CEO marks Global Money Week In Osun, harps on early savings culture

Polaris Bank CEO, Mr. Innocent C. Ike, has highlighted the need for young people in Nigeria to imbibe the culture of saving money early in life to enable them secure their future.

Mr. Ike gave this advise in a virtual presentation while addressing students of Adeleke University High School, Ede, Osun state last Thursday, March 25 to mark this year's Global Money Week event hosted by Polaris Bank Limited. The school was adopted by Polaris Bank to mark this year’s Global Money Week.

This year's event was aimed at raising awareness on the importance of saving and need for young ones becoming financially aware at an early age.

The top Banker expressed concern and warned on the consequences of poor savings culture on young people with no savings or financial investment, even as he assured that Polaris Bank would continue to sustain efforts aimed at promoting financial literacy among youths in particular and Nigerians in general. 

According to Mr. Ike, “We need to learn, save and earn money. You do not save after spending but rather, you save first before spending. The idea is to “catch them young” by educating them on finance and financial investment so that in future, their personal and financial lives can be guaranteed. To achieve this, we need to imbibe the culture of saving, no matter how small”.

Mr. Ike further explained that the financial sensitization campaign is part of the activities of the Global Money Week, an annual program organized in conjunction with the Central Bank of Nigeria (CBN) in partnership with an NGO, Junior Achievement Nigeria (JAN) to help raise awareness and sensitize students on the need to be financially independent.

The Polaris Bank Acting Managing Director said: “Although it is an annual event, for us at Polaris Bank, we will continue to engage schools, parents and teachers, because we believe that by being financially literate, students and indeed, the young ones, will be able to build their capacity for future business endeavours, thereby securing their future from poverty and other financial challenges”.

He stated confidently that Polaris Bank, the CBN and the entire players in the banking sector, are ready to carry out enlightenment on acontinuous basis; educating and teaching students on  how to manage money that comes into their hands.

After the presentation, a brief Question and Answer Session followed where an obviously elated Principal of the School, Dr. Adetayo Timothy while responding after the over 2 hours, 30 minutes’ session, said knowledge is power and applauded the presentation by Polaris Bank MD which he believes "has undoubtedly, empowered these young students on the fundamentals of saving, earning and investment."

“You would not realise the quantum of financial knowledge Polaris Bank has shared with these students this morning until they put to practice everything they have been exposed to and see the impact in their lives in the days ahead.

"We cannot thank Polaris Bank enough; your coming to our school today has created an image within this community and beyond that you are indeed, a bank that does not shy away from its Corporate Social Responsibilities”.

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

Polaris Bank Webinar: Experts outline winning strategies on how women could build wealth

Three accomplished Nigerians and leading authorities in government and finance sectors; Yewande Sadiku, Osayi Alile and Teju Abisoye have jointly enjoined Nigerian women to explore multiple investment opportunities available to build a sustainable wealth that would last generations.

The trio gave the advice at a webinar organised by Polaris Bank in Lagos as part of activities lined up to celebrate the Women’s Month in line with the International Women’s Day celebration with the theme #choosetochallenge.

The webinar which held under the aegis of the Bank’s gender-based product, Polaris Pearl, focused on understanding the role of investment in wealth creation and the importance of taking financial responsibility.

According to Ms. Sadiku, the Executive Secretary of Nigerian Investment Promotion Commission (NIPC), “For women to attain financial fitness, they have to build passive income and focus on multiple investment streams to realise the future of their dreams”.

Drawing a metaphor, the NIPC Boss and erstwhile senior Investment Banker explained that “In building passive income, you shouldn’t eat your seed, rather, plant it and let it grow to a tree, so you can have many more to eat, plant and grow”.

Using personal examples to illustrate how she built her wealth starting out as a young banker at age 20, Ms. Sadiku explained that she seized the moment and had a vision of the life she wanted to live and started building passive income through multiple investment windows; setting aside a chunk of her earnings in buying stocks, investing in mutual funds as well as putting away her bonuses and salary increments in fixed deposits, which she later invested in landed properties and real estate.

On her own part, Ms. Alile, who runs Aspire Coronation Trust Foundation, tasked Nigerian women to start saving from the moment they become conscious of the need to attain financial fitness. She urged them not to be in unnecessary competition that brings little or no value in the long run.

“Follow your lane and build a solid foundation that will stand the test of time especially when challenges come”, Ms. Alile advised.

She further reinforced the advantage of starting out children on a solid financial foundation with gifts – in form of stocks and mutual funds – just like she had while growing up, which helped set her up on the right path. She encouraged participants to start their financial fitness journey now and get help where needed.

In her own presentation, Mrs. Abisoye, the CEO of Lagos State Employment Trust Fund, said that at LSTEF, they observed that women-run businesses have a larger impact on the community and society; adding that it is possible for women businesses to drive impact, making a case for empowering women for greater and more widespread economic impact.

She advised young ladies – either in paid or self-employment to start with the end in mind, stating that: “Once you begin with the end in mind, you are bound to succeed ultimately, even as she disclosed that there are multiple sources to fund a Start-Up as a budding entrepreneur.”

“You can grow wealth irrespective of employment status. You can start out with your personal savings and seed money from family and friends”.

She enjoined participants to start and grow their businesses before exploring the debt financing option. She further encouraged start-ups to use the acronym: S-service, I-impact, S-sales and I-investment as a mantra to ensure success as the eventual outcome.

Earlier in his welcome address, the acting Managing Director/CEO of Polaris Bank, Mr. Innocent C. Ike, explained that that the webinar was put together to address pertinent issues that border on ‘Women and Growing Wealth’.

Ike noted that women empowerment and development “is core to our sustainability goals and a key focus area of our social investments and business objective as a Bank. We have had some interventions in this area for impact”.

“Our partnership with the International Women’s Society, Lagos State Ministry of Women Affairs and Poverty Alleviation, Societal Healthcare Organisation, and a host of others, are all efforts geared towards empowerment of women,” he added.

The webinar, which had over 1,000 participants following across multiple social platforms, was moderated by the Group Head, Products and Market Development, Polaris Bank, Mrs. Adebimpe Ihekuna.

According to 2018 Credit Suisse Research Institute Global Wealth Report, women hold 40% of global wealth. The report stated that women’s share in wealth rose considerably over the 20th century.

Polaris Pearl is the Bank’s flagship gender-based product designed to cater to the banking needs of the everyday woman, with special focus on Professionals, Entrepreneurs and Homemakers. The account is available in three (3) variants; Polaris Pearl Instant Account, Polaris Pearl Instant Plus Account and Polaris Pearl Account – Savings.

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

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Polaris Bank Customers to win N26million in ‘Save and Win’ Promo Campaign

Polaris Bank has commenced a nationwide savings promotional campaign to give away N26,000,000.00 (twenty-six million naira) to its loyal and prospective customers who emerge winners in its ‘Save & Win’ promo. Eight millionaires will emerge alongside 180 lucky customers who will be rewarded with other cash gifts of N100,000 per person.

The promo is aimed at making millionaires of everyday Nigerians by encouraging current and prospective customers of the Bank to save minimum incremental of N10,000 monthly for any 3 consecutive months within the promo period, starting from November 2020 to April 2021, to qualify and be part of the winners of the promo.

The first draw, which will herald the first set of winners, will be announced in February 2021. On that day, the first 60 winners of N100,000 each will emerge from the 6 geo-political zones, plus one Millionaire.

The same process will be repeated in March while the month of April will be for the Grand-finale leading to the emergence of sixty winners of N100,000 each across the  six geo-political zones and six ‘Millionaires’  of N1,000,000.00 (one million naira) each, across the six geo-political zones, bringing the entire draw to a total of 188 winners.

The Managing Director/CEO of the Bank, Mr. Innocent C. Ike while kicking off the campaign, noted that “the essence of the exercise, is to give back to customers and encourage savings amongst Nigerians”. The campaign he further explained, is a reward for the traders, artisans, public servants and indeed professionals who in spite of the challenging times, are able to put aside some money. 

He reiterated that in tough times such as we are now, there is a compelling need to save, not only to win a prize, but also to plan for the rainy day.

Explaining further on the dynamics of the campaign, the Bank’s Group Head Product and Market Development, Adebimpe Ihekuna, noted that”  both current and new savings account customers of the Bank, are eligible to participate in the promo.

She disclosed that the magic of winning lies in the ability of the customers to continuously top up their savings with the minimum sum of N10,000 each month, for 3 consecutive months, which ensures that such customers have greater chances of winning above others.

Winners will emerge through a transparent electronically generated process that will be supervised by regulatory institutions.

Savings Account accessibility is simple and swift in Polaris Bank. Prospective customers can dial *833*0# on their phones to follow the prompt or simply create or reactivate their own savings account from their devices by visiting https://accounts.polarisbanklimited.com/opening/or any of the Bank’s branches across the country.

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

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Polaris Bank offers its Salary Advance product to non-Customers

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Polaris Bank has re-launched its popular Payday loan with an added capability of enabling non-account holders to access quick funds with same speed and ease as the Bank’s customers.

According to the Bank’s Group Head, Products & Markets Development, Mrs. Bimpe Ihekuna, “The phenomenal success and testimonials from beneficiaries of the initial offering, informed the need to extend the opportunity to more Nigerians to enjoy the benefits.”

She explained that “this added feature has made Polaris Salary Advance, a readily available, convenient, and accessible solution to customers’ immediate financial needs, as well as serving identified new markets,”

Salary Advance is a small, short-term unsecured loan that relies on the borrower having previous payroll and employment records. As a Salary Advance beneficiary, you repay it either out of your next paycheck or over an agreed time span.

Polaris Salary Advance has enabled Nigerians across board, meet pressing needs and some unexpected expenses with less difficulty which explains the high adoption rate and patronage it has enjoyed across the country.

Scores of workers in private employment, corporate Nigeria, civil servants in state and federal employment have accessed easily and benefitted immensely from the facility extended from the Bank, long before they receive their salary.

As an instantly available, no-collateral facility, which customers can access anytime, anywhere, Polaris Salary Advance is available to all salary earners (both Polaris account holders and non-account holders).
The product can be accessed via *833*12# USSD Smartcode platform.

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

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Polaris Bank Announces Segun Opeke as Executive Director

Polaris Bank Limited has announced the appointment of Mr. Segun Opeke as an Executive Director of the Bank by the Board of Directors and AMCON.

The development is coming on the heels of the recent appointment of Mr. Innocent C. Ike as the Acting Managing Director of the Bank.

Segun Opeke has over twenty-six years of hands-on work experience acquired from leading Nigerian commercial banks with over fifteen of these years in Senior and Executive Management roles.

Until his appointment, Mr. Opeke was the Directorate Head, Lagos Business. The Lagos Directorate under, his leadership, recorded outstanding growth and contributed significantly to the turnaround of the Bank, evidenced by its impressive financial performance recorded in the 2019 financial year. Since the CBN intervention in the erstwhile Skye Bank Plc in July 2016, Segun has played a prominent role in the Bank’s transformation initiatives and very instrumental to the several milestone achievements of the Bank.

By this appointment, he is expected to strengthen the Bank’s leadership aspirations in the banking industry leveraging his wealth of experience and contributing greatly to its ongoing corporate transformation programme.

Segun has occupied strategic roles in various institutions including FSB International Bank, Prudent Bank and Chartered Bank where he started his banking career.

Following the emergence of Skye Bank in 2006, Segun worked as the Bank’s Treasurer and Regional Director for Victoria Island and Ikoyi. He was also the Group Head for Corporate Banking, Aviation and Maritime Group at various times. Mr. Opeke brought his leadership skills to bear as he successfully managed some large portfolios including the Bank’s Lagos Corporate and Commercial Banking Division and the Corporate Planning and Strategy Group.

As a member of the Bank’s Executive Committee, he has remained a strong asset for the institution making insightful contributions and bringing real value on board. Segun by this appointment as Executive Director, Lagos Business, will further strengthen the Management and Board in actualizing the Bank’s leadership aspirations.

Segun holds a BSc. (Banking and Finance) and an MBA from the University of Lagos. He is an alumnus of the Columbia Business School, New York. He has attended several professional, management and leadership programmes in world-class institutions including INSEAD and Euromoney, London.  He is credited with making immense contributions in change management, corporate finance/restructuring and digital transformation.

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

Babatunde Osibodu

Company Secretary