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Polaris Bank introduces Target Savings Account

...admonish Nigerians To Strengthen Their Savings Culture

Polaris Bank has launched ‘Polaris Target Savings Account’ to help Nigerians imbibe healthy savings culture as a means to building a strong financial base.

The Bank in a statement released at the weekend quoting its Group Head, Products & Market Development, Mrs Adebimpe Ihekuna said "The savings culture is gradually going into extinction as people generally spend than save, hence the launch of the target savings account to help Nigerians save for a better tommorrow.

“We recognize that there is never going to be enough money to save. That is what one must first accept - but the need to develop the habit of savings is as important as life in itself. A salary increase for most people will not necessarily get them to save more. Your children finishing school, will not get you to save more. A bigger client for your business will not get you to save more. Getting older, will not enable you to save more. Paying off your mortgage and other debts, will not get you to save more. All these are excuses not to start SAVING TODAY. If you are not saving with what you have today, chances are you might not save when you have more money." Mrs. Ihekuna declared.

Elaborating further, the top Banker explains: "It’s simply because we seem not have inculcated the culture of savings. One of the definitions we found describes culture, as a way of thinking and behaving in a society. In our own words – Anything done consistently becomes a habit; a habit done over and over, becomes a way of life i.e. culture. If we look at our society, we have a spending culture as opposed to a savings culture. This is why most often, a bigger salary means more spending; while we often assume, albeit erroneously, that we will invest or save more when we earn higher income. In ireality, the world is never going to run out of things one can buy. You may think you have the latest asset today, and a month later, another model or upgraded version of it will be there."

“The good news is that it is never too late to start saving. Nigerians who want to take up the challenge and begin to save for specific goals for the future, no matter how small, can now do so with ease, through the Polaris Target Savings account. The product was designed to help customers plan and achieve their set financial targets”.

According to the Group Head, the Target Savings Account is open to all customers, Polaris and non-Polaris account holders.

“Polaris Target Savings account can be adopted by individuals - men, women, young adults and Children", she added.

The product offers flexible tenor and competitive interest rate. Other benefits include opportunity to _get_ soft loans against savings, Advisory and financial coaching services, etc”.

‘’The Polaris Target Savings Account is easy to use; customers can deposit daily, weekly, monthly or quarterly earnings, through online direct deposits, standing order instructions or mobile and internet banking platforms.

The account can be linked to existing Polaris Bank accounts. Customers can sign up through the Bank’s mobile or internet banking platforms, and at all Polaris Bank branches nationwide.”

Accessibility is simple and swift. Customers can create their own target savings from their devices by visiting https://accounts.polarisbanklimited.com/opening/ to open an account within a few minutes or visit the Bank's website www.polarisbanklimited.com for additional information on the product.

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

POLARIS BANK ANNOUNCES THE APPOINTMENT OF INNOCENT C. IKE AS ACTING MANAGING DIRECTOR/CEO

The Board of Polaris Bank Limited is pleased to announce that the Managing Director/CEO of Polaris Bank Limited, Mr. Tokunbo Abiru, will be proceeding on his retirement, having successfully completed his two terms of two years each, first as Group Managing Director/CEO, Skye Bank Plc and Managing Director/CEO Polaris Bank Limited. This takes effect from 31 August 2020. We all wish him the best in his future endeavours.

In line with a culture of good corporate governance and succession planning, the Board of Polaris Bank Limited and Asset Management Corporation of Nigeria (AMCON), the Bank’s shareholder, have announced the appointment of Mr. Innocent C. Ike as the Acting Managing Director/CEO of Polaris Bank Limited effective 1 September 2020.

The incoming Acting Managing Director/CEO was until now the Executive Director, Technology & Services while also overseeing the South-South/South East Directorate of the Bank. Accordingly, not only has he been a pivotal part of the Bank since July 2016, but a major driver of the Corporate Transformation journey. This gives an assurance of continuity: a definite continuation of the strategic plans and initiatives that brought the Bank the successes it has recorded till date.

Mr. Innocent Ike has garnered over three decades’ professional experience in the Banking Industry. He is a graduate of Accounting from the University of Lagos, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Certified IFRS Expert and an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (CIBN). He holds an Executive Certificate in Strategy & Innovation from MIT Sloan School of Management; Boston and he is also a Member of Institute of Directors (IOD).

With this change of baton, the Bank is set to continue to deliver on the sterling performance reflected in the full year 2019 results in which the Bank posted Profit After Tax (PAT) of N27billion. To buttress the fact that this is sustainable, the Bank’s first half 2020 result showed a PAT of over N18billion, despite the tremendous headwinds brought on by the COVID-19 pandemic.

The Board of Directors of the Bank is confident that Polaris Bank will benefit immensely from Mr. Ike’s skills and wealth of experience. With his hard work and diligence, the Bank is bound to continue to thrive under his leadership.

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

Babatunde Osibodu

Company Secretary

Polaris Bank CEO, Tokunbo Abiru Retires

....Thanks Staff, CBN for Support

The Managing Director/Chief Executive Officer of Polaris Bank Limited, Mr. Tokunbo Abiru, has announced his retirement from the service of Polaris Bank, effective August 31, 2020, having successfully completed his second two-year tenure at the helm of the Bank.

In an emotion-laden farewell message to the staff of the Bank, Mr. Abiru explained that having served meritoriously in the banking industry for nearly three decades, he had resolved to retire to enable him contribute his quota in other areas of the society.

Sharing his scorecard while serving as the CEO of the Bank, Mr. Abiru noted: "It gives me great pleasure to say that, with the support of the Board, Executive Management and all of you, we have delivered on the mandate given to us by the Central Bank of Nigeria upon assumption of office in 2016."

Going down memory lane, he reminded staff of the Bank's poor state before he assumed office in 2016 as the Group Managing Director of the erstwhile SkyeBank.

He noted that all prudential ratios were out of compliance with regulatory requirements, Capital was negative, the loan book was mostly delinquent, while liquidity faced deposit attrition. Furthermore, the IT infrastructure was dilapidated and employee morale was low, resulting in erosion of public confidence.

He praised the staff for working with him to reverse the trend and bring about an institution that has become a compelling case study in corporate turnaround within Nigeria’s financial services industry. In his words: "We have reversed almost all regulatory ratios for good and currently rank amongst the very best in the industry. There can be no better testament to the much-improved state of the Bank than the full year 2019 results in which the Bank posted Profit After Tax (PAT) of N27billion.  To buttress the fact that this is sustainable, the Bank’s first half 2020 result showed a PAT of over N18billion, despite the tremendous headwinds brought on by the COVID-19 pandemic.” 

He went on to say: “We also commenced the refreshment of the Bank’s IT infrastructure, which had largely become outdated and dilapidated due to years of under-investment.  As a result of the successful completion of the first phase of the IT Refresh Program, which consisted mainly of upgrade of the infrastructure and digital platforms, and relocation of the Bank’s Data Centres to Tier III data locations as mandated by CBN regulations and in line with global best practices, the Bank’s customers are now experiencing significantly improved service delivery. In addition, by introducing and committing resources to the Agency Banking model, we have contributed in no small measure to deepening financial inclusion for the unbanked and under-banked throughout the length and breadth of Nigeria.”

He restated that today's Polaris Bank has been successfully positioned as a bank of choice in Nigeria due to the work that has been put in by the various stakeholders including the loyal customers of the Bank.

On the issue of leadership succession, Mr. Abiru said, "During this period leading to my final disengagement, I will work closely with the CBN, the Board of Directors and Executive Management of our Bank to ensure a seamless transition and smooth handover to my successor.”

Tokunbo Abiru was appointed the Group Managing Director and Chief Executive Officer of the then SkyeBank in July 2016.

Before his appointment, he had served in several capacities in some of the leading Banks in Nigeria's banking industry, including at one time as an Executive Director in First Bank of Nigeria Plc. 

He was at various times appointed as Non–Executive Director in some leading companies, including Econet (now Airtel) Mobile Networks Limited, and FBN Capital Limited (now FBN Merchant Bank Limited). 

Mr Abiru has also had a brief stint in public service, having served from 2011 to 2013 as the Honorable Commissioner of Finance for Lagos State Government under the dynamic and transformational leadership of Governor Babatunde R. Fashola (SAN).

Following the establishment of Polaris Bank in September 2018, the Central Bank of Nigeria affirmed the performance of the Bank's Board of Directors, and reappointed Mr. Tokunbo Abiru to lead the new Bank; a position he held until opting for voluntary retirement from the Bank.

Polaris Bank is a future-determining Bank committed to the delivery of industry-defining products for individuals and businesses.

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Polaris Bank Partners Facebook to build capacity for SMEs

 

Polaris Bank has partnered with the global social media giant, Facebook to provide free digital marketing training to SMEs in Nigeria.

 

The Bank explained that this move is intended to equip Small and Medium-scale Enterprises (SMEs) who are focused on leveraging social media tools to drive business and sales.

 

According to the Bank’s Group Head, Products & Market Development, Mrs. Adebimpe Ihekuna, “This partnership is part of Polaris Bank’s non-financial offerings to SMEs in their bid to scale to the next level" 

 

“As an enterprise positioned to meet the challenges of the digital age, especially in the era of COVID-19, we want to assist as many SMEs as we can to ensure they remain relevant in their line of business,” she stressed.

 

This virtual training is scheduled for August 3rd—August 7 and will hold for 5 days with a maximum of 2 modules daily, at different time intervals (i.e. morning and afternoon) while a repeat session will hold the following week for the next set of SMEs who were not accommodated in the first week.

 

Participants will among other things, learn how to find new customers and build business communities using digital tools. They will also be exposed to strategies to grow their business internationally, build an online business presence with Facebook, use WhatsApp to grow their business, learn how to create Facebook Ads, and scale advertising with Ads Manager and unearth tools to drive their business.

 

It would be recalled that the Bank in conjunction with Digivate 360 ran a similar training across eight (8) locations: Lagos, Enugu, Abuja, Kano, Ilorin, Port Harcourt, Abeokuta and Benin in October 2019 through which 723 SME’s (existing and non-existing customers) were trained.

 

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.

List Of Operational Branches And Cash Centers

In continuation of our commitment towards the fight against the COVID-19 pandemic, we have ensured that all our alternative channels (PolarisMobile, *833#, PolarisXperience, ATM and SurePadi Agents) remain available 24/7 for your banking needs, to reduce person to person interactions. 

We therefore encourage that you play your part by using them more, from the comfort of your personal space instead of visiting our branches.

However, if it is important that you visit any of our branches, Click here to view the list of branches and cash centers that will be open for banking services. We implore you to adhere to these safety measures when you come into our branches:

 

 

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FAQs on our Webinar -“Managing Healthcare Business During COVID-19 and Beyond”

On the 26th of March, 2020, Polaris Bank hosted a webinar on "Managing Health Care Business During COVID-19 and Beyond". The FAQs below provides helpful information regarding some of the questions emanating from the Webinar.

FAQs

What is the role of Polaris Bank in assisting healthcare providers access the FG intervention fund?
  • Polaris Bank will provide advisory services.
  • Jointly review your business plans and educate on the modalities to ensure a successful application.
  • Submit the application to CBN for approval and subsequent disbursement.
How do healthcare providers access this Intervention funds through the banks or directly with CBN?

Any healthcare provider who wishes to access the Federal Government intervention fund will work with Polaris Bank.

What is the timeline for accessing this fund?

The loan turn around time is within 15 working days subject to receipt of complete documentation from the customer.

Who are the target market ?

Eligible prospects must fall under the categories below:                                     

  1. Manufactures of Healthcare products i.e. Pharmaceutical drugs and medical equipment.
  2. Healthcare service providers/Medical facilities i.e. hospitals/clinics, diagnostic centres/laboratories, fitness and wellness.
  3. Pharmaceutical companies or companies involved in distribution of medical products and logistics services.

Other human healthcare services providers as may be determined by CBN from time to time

What is the interest rate, maximum loan amount and tenure for the CBN health loan?
  1. The maximum loan amount is N2billion with a tenure of up to 10 year.
  2. Interest is 5% per annum (all inclusive) up to 28th February 2021. Rate shall revert to 9% per annum as from 1st March 2021
What are the documentation requirement to access the CBN Health Intervention Fund?

All intending prospects will present the following to any Polaris Bank branch.  Applications can also be submitted via email to smebusiness@polarisbanklimited.com

  1. Formal Loan application letter from customer
  2. Detailed business plan
  3. Pro-forma invoice of the asset to be financed
  4. Clean CBN CRMS report and two (2) Credit Bureau reports from 2 credit bureau and CRMS on the company and the promoter(s) of the company.

1 year bank statement from another bank if prospect does not have account with Polaris Bank.

Apart from the CBN Health Intervention, does Polaris Bank have a product dedicated to the sector

Yes, the Polaris Health Sector Loan : it is a loan product targeted at Private Hospitals, Pharmacies, Medical Laboratories and Diagnostic Centres to support funding needs

What are the Security /Collateral requirements for the Polaris Health Sector loan
  1. Loans below N10million will be secured with personal guarantee(d) supported with hypothecation of goods or bill of sales and comprehensive insurance
  2. Loans above N10million will be fully secured in line with Banks accepted collateral requirement
  3. For asset finance, asset to be financed will suffice as the acceptable collateral. 
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Nigeria’s Health Sector has Massive Wealth Potential, says Abiru

Polaris Bank CEO, Mr. Tokunbo Abiru has disclosed that Nigeria’s health sector holds immense potential to create wealth for the country if an enabling environment is put in place for the sector to thrive. 

Mr. Abiru said this during a webinar hosted by the Bank on: ‘Managing Healthcare Business During & Post-COVID-19’.

While speaking on the gap and opportunities in the health sector, he drew participants' attention to the current state of medical services globally which according to him, are overstretched. 

He noted that Nigeria’s case is however peculiar owing to what he referred to as pandemic preconditions that existed in the nation’s health sector before the outbreak of COVID-19 but further re-enforced by the realities of COVID-19.

“Despite these unfortunate realities, with the right policies and legislation, the health sector has the potential to create wealth for the country. This will include exploring ways to make medical services affordable by providing a well-defined and incentivised insurance framework to cover the formal and informal sectors. He further noted that Nigeria’s large population offers a huge demand potential for turning the health sector into a money-spinner for the country."

According to him, “If the right legislation is in place, medical tourism can be a thing of the past while providers of capital would have the comfort to bridge funding gap thus getting the sector to work optimally.” 

Dr. Abiodun Oyenuga, the quality assurance adviser of Medical Credit Fund, who spoke on the ‘Overview of the Pandemic and its Impact on Healthcare Business’ noted that: “There is a decrease in the ability to afford healthcare as a result of the business shutdown; loss of income and loss of jobs among several drawbacks. He however advocated for more participation from financial institutions by providing credits and financing; and also a renewed focus of Government in reviving the healthcare industry as these will gravitate towards improving patient satisfaction; as well as an increase in profit. 

With respect to expanding coverage, improved and timely  access to primary health care services, Mr. Adil Shaikh, Chief Technology Officer of MeCure, explains that Telemedicine provides patients the opportunity to access online consultation, prescription and delivery of prescribed drugs from certified pharmacies across Nigeria.  Mr. Shaikh noted however that telemedicine comes with challenges especially for providers of medical services who wish to explore the field; ranging from technology infrastructure, user education & general awareness and connectivity issues on the part of the consumer. He identified three major areas financial institutions could help to bridge the gap including: leveraging reach to generate awareness, innovating on digital payments, and partnerships with health institutions. 

On her part, Dr. Itunu Akinware, Managing Director Medbury Medical Services, advocated for effective collaborations within the health sector drawing from the saying, “You shouldn’t let a good crisis go to waste,” she emphasized that 'now that a lot of light has been shone on the health sector and we can see the gaps in infrastructure, processes, and systems, this is the time for all of us to work together and ensure that we can improve healthcare in Nigeria".

Speaking from the perspective of what her organization is doing differently to stay afloat despite the impact of COVID-19, Dr. Akinware said, "we have developed a three-pronged strategy: to increase or maintain revenue; reduce or re-align cost and manage cash."

Mr. Omoshola Yusuf, Divisional Head, Medical & Technology, Hygeia HMO who spoke on how the increasing cost of care is being moderated by the HMO scheme  encouraged Nigerians,  employers of labour, as well as individuals, to embrace the scheme.

Mr. Segun Opeke, Directorate Head, Lagos Business, Polaris Bank spoke on the product offering of the Bank to the health sector which he described as two-pronged: Polaris Healthcare Loan and the CBN 100billion healthcare support fund to cushion the impact of COVID-19 and improve the gaps/deficit in the healthcare business, going forward.

"The Polaris Healthcare Loan has two variants: what can be available as overdraft facility for working capital purposes; purchase of consumables; discounting of invoices, etc. Interest is very competitive while Loan amount is subject to the applicant’s capacity", Opeke explained.

Continuing, Mr. Opeke noted, "There is also the Term Loans available for renovations, expansion, purchase of equipments for hospitals, vehicles, etc. depending on what the need is. Interest rate is in single-digit", he added.

Mr. Opeke in response to a question posed by a participant on the role of Polaris Bank in assisting healthcare providers access the CBN  intervention fund, said that the NGN100 Billion Credit Support for the Healthcare sector, is to provide credit to indigenous pharmaceutical companies and other healthcare value chain players intending to build or expand capacity.  Polaris Bank is at the fore-front and has over the past few months assisted a number of healthcare businesses to access facilities under the Apex Bank intervention Fund.

In his closing remarks, Polaris Bank MD/CEO, Mr. Abiru said, “If there’s any major lesson to take out of this pandemic, it is for us not to lose the opportunity it presents to improve the quality of our health sector and provide a system that is beneficial to all; regardless of social status.” 

The webinar attracted thousands of participants from across the world comprising, individuals; business owners; students, lecturers and entrepreneurs across different sectors of the economy but majorly from the healthcare value chain. 

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.  

List of Open Branches

Sequel to the directives from the Federal and State Governments for Banks to run skeletal operations during this lockdown relaxation period, below is the list of our branches which will be in operation:

SNSTATEBRANCHADDRESS
1.     ABIALIBRARY AVENUE12 LIBRARY AVENUE, UMUAHIA, ABIA STATE
2.     ABIAFACTORY ROAD5 FACTORY ROAD ABA, ABIA STATE
3.        ABUJAMAITAMANO 31 AGUIYI IRONSI STREET MAITAMA ABUJA
4.     ABUJALIFE CAMPOBAFEMI AWOLOWO WAY, MBORA DISTRICT, LIFECAMP, ABUJA
5.     ABUJAGWAGWALADANO 47 SECRETARIAT ROAD CENTRAL BUSINESS AREA GWAGWALADA
6.     ABUJAABUJA MAINNO 3 NAURA KAMODA STREET, AREA 3 GARKI ABUJA
7.        ABUJALUGBEPLOT 255 FHA ALONG AIRPORT ROAD LUGBE, ABUJA FCT
8.        ABUJABWARIBWARI BRANCH -34 LONG NIGERIA LAW SCHOOL ROAD, BWARI,ABUJA
9.        ABUJAASOKOROPLOT 71 YAKUBU GOWON CRESCENT, ASOKORO, ABUJA
10.    ABUJAMARARABANO 27, ALONG JOS -KEFFI ROAD, MARARABA
11.    ABUJAMPAPESKYE BANK PLC, POLT M1\55 MPAPE LAYOUT,ABUJA
12.  ADAMAWAJIMETAOPP FCE YOLA ROAD JIMETA YOLA
13.  ADAMAWAMUBILOKUWA WARD MUBI
14.  AKWA IBOMEKET8 GRACE BILL ROAD, EKET
15.  AKWA IBOMABAK ROAD BRANCH/APICO/PRINCE UTUKSAPICO INVESTMENT HOUSE,151 ABAK ROAD, UYO, AKWA IBOM STATE
16.  ANAMBRAAWKA258 ZIKS AVENUE, AWKA
17.  ANAMBRAONITSHA42 PORT HARCOURT STREET,FEGGE
18.    ANAMBRANKPOR4 NWOSA LANE NKPOR, ANAMBRA STATE
19.    ANAMBRAOBOSI3 ONYEKWERE ZONE UGWUAGBA OBOSI
20.    ANAMBRANEW MARKET ROAD13 NEW MARKET ROAD ONITSHA
21.  APAPA & LAGOS MARKETASPAMDAHALL 2, INTERNATIONAL TRADE FAIR COMPLEX, ASPAMDA, LAGOS BADAGRY EXPRESS WAY, LAGOS
22.  APAPA & LAGOS MARKETALABAELECTRONICS PLAZA , ALABA INT'L
23.  BAUCHIYAKUBU ROAD31 YAKUBUN BAUCHI ROAD, BAUCHI
24.  BAYELSAYENAGOA192 MBIAMA/YENAGOA ROAD, AMARATA, YENAGOA
25.  BENUEGBOKOBCC  FACTORY YANDEV GBOKO
26.  BENUEMAKURDI BRANCHOLD OTUKPO ROAD
27.  BORNOBIU2 DAMATURU ROAD, BIU, BORNO STATE
28.  BORNO STATEKIRIKASAMANO 1 KIRIKASAMA ROAD, MAIDUGURI
29.  CROSS RIVERCALABAR41, MURTALA MOHAMMED WAY, CALABAR.
30.  DELTAASABA228, NNEBISI ROAD, ASABA, DELTA STATE
31.    DELTAEFFURUN33, OLD SAPELE ROAD WARRI. EFFURUN
32.    DELTAWARRI88, WARRI-SAPELE ROAD, WARRI, DELTA STATE
33.    DELTAAGBOR114, OLD LAGOS-ASABA ROAD, AGBOR, DELTA STATE
34.  DELTAALADJA2, OREROKPE STREET, CAMP EXTENTION 3, DSC, ALADJA, WARRI, DELTA STATE
35.  DELTAOBIARUKU123, OLD SAPELE-AGBOR ROAD, OBIARUKU, DELTA STATE
36.  EBONYIABAKALIKI245 AFIKPO ROAD, ABAKALIKI, EBONYI STATE
37.  EDOFORESTRY1, FORESTRY ROAD, BENIN CITY,EDO STATE
38.  EDOAGENEBODENEW AUCHI ROAD, AGENEBODE, EDO STATE
39.  EDOAKPAKPAVA100, AKOKPAVA RD. P.O. BOX 356, BENIN CITY
40.  EDO/DELTAUGBOWO218, UGBOWO LAGOS ROAD, BENIN CITY, EDO STATE
41.  EDO/DELTAEKENWAN ROAD130, EKENWAN ROAD, BY AGHO JUNCTION, BENIN CITY, EDO STATE
42.  EKITIADO EKITI7 OREREOWU STREET ADO EKITI
43.  ENUGUOKPARA AVENUEPLT 3D OKPARA AVENUE
44.  ENUGUNNEWI13, EDO EZEMEWI STREET, NNEWI
45.  GOMBEGOMBEPLOT 42, GWANI ROAD, GOMBE
46.  GREATER LAGOSAGO PALACE WAY64 AGO PALACE WAY, OKOTA
47.  GREATER LAGOSISOLO27 MUSHIN ROAD, ISOLO, LAGOS
48.  GREATER LAGOSIKORODU SECIKORODU LOCAL GOVERNMENT SECRETARIAT PREMISES, EBUTE ROAD, IKORODU
49.  IKEJAADENIYI JONESWAHUM BUILDING 2 ADENIYI JONES AVENUE OFF OBA AKRAN P.M.B. 21534 IKEJA,LAGOS
50.  IKOYI LAGOS ISLANDAWOLOWO ROAD81 AWOLOWO ROAD IKOYI
51.  IMOOWERRI23, WHETHERAL ROAD OWERRI
52.  IMOURUALLAORLU /AWKA ROAD. URUALLA
53.  IMOMGBIDINO 19 PK NWOSU STREET MGBIDI
54.  JIGAWADUTSE8/9 SANI ABACHA WAY, DUTSE
55.  JIGAWAGUMEL2 KANO ROAD, OPP. GUMEL POST OFFICE,GUMEL
56.  JIGAWAHADEJIA92,MALAMADORI ROAD HADEJIA, JIGAWA STATE
57.  KADUNAKACHIANO 3, KACHIA ROAD, KADUNA
58.  KADUNAKADUNA MAINPLOT 1472 MAGADISHU LAYOUT KADUNA
59.  KADUNAZARIA28 PARK ROAD ZARIA
60.  KANOIBRAHIM TAIWO BRANCH KANO70, IBRAHIM TAIWO ROAD, KANO
61.    KANOMM WAY KANO1 MURITALA MOHAMMED WAY OPPOSITE KANO CLUB
62.    KATSINAMALUMFASHIFUNTUA/YASHE ROAD,BESIDE ABA NIGERIA LTD, MALUMFASHI
63.  KATSINAKATSINA201, IBB WAY KATSINA
64.  KEBBIEMIR HARUNA43, EMIR HARUNA ROAD, BIRNIN KEBBI
65.  KOGILOKOJAIBB WAY,LOKOJA/OKENE RD
66.  KOGIAYANGBAKM 1 ANKPA ROAD, AYANGBA BEFORE KOGI STATE  UNIVERSITY AYANGBA
67.  KWARAMURITALA MOHAMMED WAY ILORIN4 MURITALA MOHAMMED WAY ILORIN
68.  KWARAILORUN 
69.  LAGOSWHARF ROAD28, WHARF ROAD, APAPA
70.    LAGOSIKORODU MAIN21 AYANGBUREN ROAD, IKORODU, LAGOS
71.    LAGOSSANGO OTAKM 37, ABEOKUTA EXPRESS WAY ROAD TEMIDIRE BUS STOP SANGO OTA
72.    LAGOSKETU520 IKORODU ROAD, KETU, LAGOS
73.    LAGOSDOPEMU120 LAGOS/ABEOKUTA EXPRESS ROAD, DOPEMU, LAGOS
74.    LAGOSMAGODO14 CMD ROAD, MAGODO, LAGOS
75.    LAGOSIKOTUN16 IDIMU ROAD, COLLEGE B/STOP, IKOTUN
76.    LAGOSSOMOLU6,BAJULAYE ROAD MOROCCO SHOMOLU
77.    LAGOSADENIRAN OGUNSANYA81 ADENIRAN OGUNSANYA SURULERE
78.    LAGOSIKEJA PLAZAMOBOLAJI-BANK ANTHONY WAY,IKEJA
79.    LAGOSPOLARIS HOUSEPLOT 5, COMMERCIAL SCHEME,IKEJA
80.    LAGOSINTL AIRPORT ROAD60, MURTALA MOHAMMED, INT AIRPORT ROAD MAFOLUKU
81.    LAGOSEPE12 LAGOS ROAD AYETORO, EPE.
82.    LAGOSOSAPA LONDONKM14 LEKKI EPE EXPRESS WAY
83.    LAGOSADMIRLTYBLOCK A10 PLOT 5 ADMIRALTY LEKKI PHASE 1 LAGOS
84.    LAGOSADETOKUNBO ADEMOLA50 ADETOKUNBO ADEMOLA STREET, VICTORIA ISLAND
85.  LAGOSIKOTA SHOPPING COMPLEXROAD 5 IKOTA SHOPPING COMPLEX IKOTA AJAH LAGOS
86.    LAGOSFIRST AVENUEIST AVENUE BRANCH
87.    LAGOSBADAGRYSEME-EXPRESS WAY BADAGRY LAGOS
88.    LAGOSWAREHOUSE ROAD48 WAREHOUSE ROAD APAPA
89.    LAGOSBROAD STREET51-55 BROAD STREET LAGOS ISLAND
90.    LAGOSALFRED REWANE5 ALFRED REWANE ROAD, IKOYI
91.  LAGOS MAINLANDFATAI ATERE11/12, FATAI ATERE WAY,MUSHIN
92.  LAGOS MAINLANDOJUELEGBA68, OJUELEGBA RD, SURULERE
93.  NASARAWALAFIAJOS ROAD, OPPOSITE CID OFFICE BESIDE IMMIGRATION OFFICEAKWANGA ROAD
94.  NIGERMINNA151, BOSSO ROAD, TUNGA JUNCTION MINNA
95.  NIGERSULEJA MAIN1 IBB MARKET ROAD, SULEJA
96.  NIGERBIDAFEDERAL POLYTECHNIC CAMPUS
97.  NORTH CENTRALEBITU UKIWE1A OLD AIRPORT ROAD MINNA
98.  OGUNSOKENU/SAPON15 SOKEKU ROAD SAPON ABEOKUTA OGUN STATE
99.  OGUNIJEBU ODE82, ABEOKUTA ROAD IJEBU ODE OGUN STATE
100.                OGUNOKE-ILEWO65B, LALUBU STREET OKE-IKEWO,  ABEOKUTA, OGUN STATE
101.                         OGUNSAGAMU169 AKARIGBO ROAD, SHAGAMU
102.                         OGUNIJEBU IGBOODOASOYIN ROAD ,IJEBU IGBO, OGUN
103.                OGUNKUTOOBA LIPEDE ULTRA MODERN MARKET, KUTO ABEOKUTA
104.                ONDOYABA ROAD ONDONO 23,A YABA ROAD ONDO
105.                ONDOOYEMEKUN42 OYEMEKUN ROAD, AKURE
106.                ONDOOWO19 OKE OGUN STREET OWO
107.                ONDOOBA ADESIDA92, OBA ADESIDA ROAD, AKURE
108.                ONDO/EKITIIKAREJUBILEE ROAD IKARE
109.                ONDO/EKITIOKITIPUPAIKOYA ROAD
110.                OSUNFAGBEWESAFAGBEWESA STREET, OSOGBO
111.                OSUNILESAOKESA STR ILESA
112.                OSUNOBA ADEREMI2 OBA ADEREMI RD. ILE IFE
113.                OSUNALEKUWODO55, ALEKUWODO STREET OSOGBO
114.                OSUN/KWARAEDE MAINOJA TIMI,EDE,OSUN STATE
115.                OSUN/KWARAOSOGBOOPP FAKUNLE COMPREHENSIVE HIGH SCHOOL, OSOGBO
116.                OSUN/KWARAJEBBANO 1, JEBBA PAPER MILL ROAD, JEBBA
117.                OYOOGBOMOSHOOJU ODO APAKE STREET IGBOSHO
118.                OYOOBA ADEBIMPEBESIDES CBN DUGBE IBADAN
119.                OYOAGODIOPP STATE SECRETARIAT AGODI
120.                OYOMONATANADEX BUSTOP OPPOSITE TOTAL FILING STATION.MONATAN IBADAN
121.                OYORING ROADBESIDE LISTER BUILDING, HIGH COURT BUS STOP, RING ROAD,IBADAN
122.                OYOERUWASANGO ERUWA
123.                OYOLEBANON17 LEBANON STREET DUGBE IBADAN
124.                OYOIWO ROADYIDI BUS STOP, GATE, IBADAN
125.                OYOSAKIOPP.SAKI WEST LOCAL GOVT. SECRETARIAT,SAKI
126.                PLATEAUKURUNIPSS KURU JOS PLATEAU STATE
127.                PLATEAUMM WAY JOS23 MM WAY JOS
128.                RIVERSOKPORO BRANCH119 OKPORO ROAD
129.                RIVERSPORTHACOURT MAIN26, ABA ROAD. PH
130.                RIVERSTRANS AMADIPLOT 270 TRANS AMADI INDUSTRIAL LAYOUT PORTHARCOURT
131.                RIVERSIGRUWUTA100 AIRPORT ROAD IGWURUTA PORT HARCOURT
132.                RIVERSOLU OBASANJO143 OLU OBASANJO WAY
133.                RIVERSPH REFINERY CASH CENTREPHRC
134.                         RIVERSRUST CASH CENTER(RIVERS STATE UNI OF SCIENCE & TECH)RIVERS UNIVERSITY CAMPUS NKPOLU
135.                         RIVERSONNE CASH CENTERFLT ROAD ONNE
136.                         RIVERSNCHIA33 HOPITAL ROAD OGALE
137.                SOKOTOSANI ABACHA16 SANI ABACHA WAY  FORMERLY KANO ROAD
138.                SOUTH EASTOWERRI107,DOUGLAS RD,OWERRI
139.                SOUTH EASTOWERRI TETLOW178, TETLOW ROAD OWERRI
140.                SOUTH EASTOGUI RD96 OGUI RD ENUGU
141.                SOUTH EASTBRIGHT5 BRIGHT STREET ONITSHA
142.                TARABAJALINGOHAMMARUWA WAY,  OPP. OCEANIC & UNION BANK
143.                UYO/ABAABAK56 NWANIBA ROAD UYO, AKWA IBOM
144.                VICTORIA ISLANDADEOLA ODEKU45 ADEOLA ODEKU STREET
145.                VICTORIA ISLANDAJOSE ADEOGUNPOLARIS  BANK AJOSE ADEOGUN
146.                YOBEDAMATURUMAIDUGURI ROAD,OPPOSITE GOVERNMENT HOUSE
147.                ZAMFARACANTEEN ROADSANI ABACHA WAY, GUSAU
148.                SOUTH EASTJOHNSON STREET9 JOHNSON STREET ONITSHA MAIN MARKET
149.                UYO/ABACEMETRY CASH CENTRE12 DURU STREET CEMETRY MARKET ABA, ABIA STATE

 
Please stay safe, and together we will beat COVID-19.
 
Thank you for making Polaris Bank your preferred Bank.

 

Welcoming You Back

Resumption of Services at Our Branches

Dear Esteemed Customer,

We are glad to inform you of the resumption of operations at our branches in the FCT, Lagos and Ogun states following the relaxation of movement restrictions placed by the Federal Government in those locations as a result of the Covid-19 pandemic.

As a continuation of our efforts towards curbing the spread of the Coronavirus, we shall be implementing the following measures with effect from Monday May 04, 2020 in line with the Federal Government directives:

  • Banking operations shall resume in the FCT, Lagos and Ogun States and FCT between the hours of 9:00am to 2:00pm to enable us provide excellent services to you without flouting government's directive.

As you come into our branches please observe the following:

  • Use your face mask - You will not be allowed into the branch without a face mask
  • Temperature checks: Ensure your temperature is checked before you step into the banking hall
  • Use the hand sanitizer provided - This is compulsory before you step into the branch
  • Ensure social distancing: We have established a system that ensures social distancing when you visit any of our branches. We appreciate that this may cause a slight delay as we attend to customers in batches and we enjoin you to cooperate with us as we work together to reduce the spread of the deadly corona virus.
  • Personal hygiene: We have taken appropriate steps to ensure the utmost personal hygiene of our staff and customers are maintained at all times within our premises in line with the guidelines of the Nigeria Center for Disease Control (NCDC) by making provision for regular washing of hands, alcohol based sanitizers and infrared thermometers to check temperature at all entry points.

Availability of Digital Channels

In line with our commitment to the elimination of the Covid-19 pandemic through the reduction of inter-personal interaction, we encourage you to make use of our convenient and reliable electronic channels (PolarisMobile, *833#, PolarisXperience, ATM and SurePadi Agents) that offer 24/7 services for your banking transactions.

As we aim to serve you better, please locate our branch nearest to you using the list below:

S/NSTATEBRANCHADDRESS
1ABIA LIBRARY AVENUE12 LIBRARY AVENUE, UMUAHIA, ABIA STATE
2ABIA  FACTORY ROAD5 FACTORY ROAD ABA, ABIA STATE
3ABIA  EZIUKWU ROAD3/4 EZIUKWU ROAD, ABA
4ABUJAMAITAMANO 31 AGUIYI IRONSI STREET MAITAMA ABUJA
5ABUJALUGBEPLOT 255 FHA ALONG AIRPORT ROAD LUGBE, ABUJA FCT
6ABUJABWARIBWARI BRANCH -34 LONG NIGERIA LAW SCHOOL ROAD, BWARI,ABUJA
7ABUJAASOKOROPLOT 71 YAKUBU GOWON CRESCENT, ASOKORO, ABUJA
8ABUJAMARARABANO 27, ALONG JOS -KEFFI ROAD, MARARABA
9ABUJAMPAPEPOLARIS BANK PLC, POLT M1\55 MPAPE LAYOUT,ABUJA
10ADAMAWAJIMETAOPP FCE YOLA ROAD JIMETA YOLA
11ADAMAWAMUBILOKUWA WARD MUBI
12AKWA IBOMEKET8 GRACE BILL ROAD, EKET
13AKWA IBOMABAK ROAD BRANCH/APICO/PRINCE UTUKSAPICO INVESTMENT HOUSE,151 ABAK ROAD, UYO, AKWA IBOM STATE
14ANAMBRAAWKA258 ZIKS AVENUE, AWKA
15ANAMBRAONITSHA42 PORT HARCOURT STREET,FEGGE
16ANAMBRANKPOR4 NWOSA LANE NKPOR, ANAMBRA STATE
17ANAMBRAOBOSI3 ONYEKWERE ZONE UGWUAGBA OBOSI
18ANAMBRANEW MARKET ROAD13 NEW MARKET ROAD ONITSHA
19BAUCHI     YAKUBU ROAD31 YAKUBUN BAUCHI ROAD, BAUCHI
20BAYELSAYENAGOA192 MBIAMA/YENAGOA ROAD, AMARATA, YENAGOA
21BENUEGBOKOBCC  FACTORY YANDEV GBOKO
22BENUEMAKURDI BRANCHOLD OTUKPO ROAD
23BORNOBIU2 DAMATURU ROAD, BIU, BORNO STATE
24BORNO STATEKIRIKASAMANO 1 KIRIKASAMA ROAD, MAIDUGURI
25CROSS RIVERCALABAR41, MURTALA MOHAMMED WAY, CALABAR.
26DELTAASABA228, NNEBISI ROAD, ASABA, DELTA STATE
27DELTAEFFURUN33, OLD SAPELE ROAD WARRI. EFFURUN
28DELTAWARRI88, WARRI-SAPELE ROAD, WARRI, DELTA STATE
29DELTAAGBOR114, OLD LAGOS-ASABA ROAD, AGBOR, DELTA STATE
30DELTAALADJA2, OREROKPE STREET, CAMP EXTENTION 3, DSC, ALADJA, WARRI, DELTA STATE
31DELTAOBIARUKU123, OLD SAPELE-AGBOR ROAD, OBIARUKU, DELTA STATE
32EBONYIABAKALIKI245 AFIKPO ROAD, ABAKALIKI, EBONYI STATE
33EDOFORESTRY1, FORESTRY ROAD, BENIN CITY,EDO STATE
34EDOAGENEBODENEW AUCHI ROAD, AGENEBODE, EDO STATE
35EDOAKPAKPAVA100, AKOKPAVA RD. P.O. BOX 356, BENIN CITY
36EDOSAPELE143, SAPELE ROAD, BENIN CITY, EDO STATE
37EKITIADO EKITI7 OREREOWU STREET ADO EKITI
38ENUGUOKPARA AVENUEPLT 3D OKPARA AVENUE
39ENUGUNNEWI13, EDO EZEMEWI STREET, NNEWI
40GOMBEGOMBEPLOT 42, GWANI ROAD, GOMBE
41IMOOWERRI23, WHETHERAL ROAD OWERRI
42IMOURUALLAORLU /AWKA ROAD. URUALLA
43IMOMGBIDINO 19 PK NWOSU STREET MGBIDI
44IMOUMUELEMAIOLD OKIGWE / UMUAHIA ROAD, UMUELEMAI, MBANO, IMO STATE
45JIGAWADUTSE8/9 SANI ABACHA WAY, DUTSE
46JIGAWA     GUMEL2 KANO ROAD, OPP. GUMEL POST OFFICE,GUMEL
47JIGAWA     HADEJIA92,MALAMADORI ROAD HADEJIA, JIGAWA STATE
48KADUNAKACHIANO 3, KACHIA ROAD, KADUNA
49KADUNAKADUNA MAINPLOT 1472 MAGADISHU LAYOUT KADUNA
50KADUNAZARIA28 PARK ROAD ZARIA
51KANOIBRAHIM TAIWO BRANCH KANO70, IBRAHIM TAIWO ROAD, KANO
52KANOMM WAY KANO1 MURITALA MOHAMMED WAY OPPOSITE KANO CLUB
53KATSINAMALUMFASHIFUNTUA/YASHE ROAD,BESIDE ABA NIGERIA LTD, MALUMFASHI
54KATSINAKATSINA201, IBB WAY KATSINA
55KEBBIEMIR HARUNA43, EMIR HARUNA ROAD, BIRNIN KEBBI
56KOGILOKOJAIBB WAY,LOKOJA/OKENE RD
57KOGIAYANGBAKM 1 ANKPA ROAD, AYANGBA BEFORE KOGI STATE  UNIVERSITY AYANGBA
58KWARAMURITALA MOHAMMED WAY ILORIN4 MURITALA MOHAMMED WAY ILORIN
59KWARAILORUN 
60LAGOSWHARF ROAD28, WHARF ROAD, APAPA
61LAGOSIKORODU MAIN21 AYANGBUREN ROAD, IKORODU, LAGOS
62LAGOSSANGO OTAKM 37, ABEOKUTA EXPRESS WAY ROAD TEMIDIRE BUS STOP SANGO OTA
63LAGOSKETU520 IKORODU ROAD, KETU, LAGOS
64LAGOSDOPEMU120 LAGOS/ABEOKUTA EXPRESS ROAD, DOPEMU, LAGOS
65LAGOSMAGODO14 CMD ROAD, MAGODO, LAGOS
66LAGOSIKOTUN16 IDIMU ROAD, COLLEGE B/STOP, IKOTUN
67LAGOSSOMOLU6,BAJULAYE ROAD MOROCCO SHOMOLU
68LAGOSADENIRAN OGUNSANYA81 ADENIRAN OGUNSANYA SURULERE
69LAGOSIKEJA PLAZAMOBOLAJI-BANK ANTHONY WAY,IKEJA
70LAGOSPOLARIS HOUSEPLOT 5, COMMERCIAL SCHEME,IKEJA
71LAGOSINTL AIRPORT ROAD60, MURTALA MOHAMMED, INT AIRPORT ROAD MAFOLUKU 
72LAGOSEPE12 LAGOS ROAD AYETORO, EPE.
73LAGOSOSAPA LONDONKM14 LEKKI EPE EXPRESS WAY
74LAGOSADMIRLTYBLOCK A10 PLOT 5 ADMIRALTY LEKKI PHASE 1 LAGOS
75LAGOSADETOKUNBO ADEMOLA50 ADETOKUNBO ADEMOLA STREET, VICTORIA ISLAND
76LAGOSIKOTA SHOPPING COMPLEXROAD 5 IKOTA SHOPPING COMPLEX IKOTA AJAH LAGOS
77LAGOSFIRST AVENUEIST AVENUE BRANCH
78LAGOSBADAGRYSEME-EXPRESS WAY BADAGRY LAGOS
79LAGOSWAREHOUSE ROAD48 WAREHOUSE ROAD APAPA
80LAGOSBROAD STREET51-55 BROAD STREET LAGOS ISLAND
81LAGOSALFRED REWANE5 ALFRED REWANE ROAD, IKOYI
82NASARAWALAFIAJOS ROAD, OPPOSITE CID OFFICE BESIDE IMMIGRATION OFFICEAKWANGA ROAD                                                                                                                                                                                                                                                         
83NIGERMINNA151, BOSSO ROAD, TUNGA JUNCTION MINNA
84NIGERSULEJA MAIN1 IBB MARKET ROAD, SULEJA
85NIGERBIDAFEDERAL POLYTECHNIC CAMPUS
86OGUNSOKENU/SAPON15 SOKEKU ROAD SAPON ABEOKUTA OGUN STATE
87OGUNIJEBU ODE82, ABEOKUTA ROAD IJEBU ODE OGUN STATE
88OGUNOKE-ILEWO65B, LALUBU STREET OKE-IKEWO,  ABEOKUTA, OGUN STATE
89OGUNSAGAMU169 AKARIGBO ROAD, SHAGAMU
90OGUNIJEBU IGBOODOASOYIN ROAD ,IJEBU IGBO, OGUN
91OGUNKUTOOBA LIPEDE ULTRA MODERN MARKET, KUTO ABEOKUTA
92ONDOYABA ROAD ONDONO 23,A YABA ROAD ONDO
93ONDOOYEMEKUN42 OYEMEKUN ROAD, AKURE
94ONDOOWO19 OKE OGUN STREET OWO
95ONDOOBA ADESIDA92, OBA ADESIDA ROAD, AKURE
96OSUNFAGBEWESAFAGBEWESA STREET, OSOGBO
97OSUNILESAOKESA STR ILESA
98OSUNOBA ADEREMI2 OBA ADEREMI RD. ILE IFE
99OSUNALEKUWODO55, ALEKUWODO STREET OSOGBO
100OYOOGBOMOSHOOJU ODO APAKE STREET IGBOSHO
101OYOOBA ADEBIMPEBESIDES CBN DUGBE IBADAN
102OYOAGODIOPP STATE SECRETARIAT AGODI
103OYORING ROADBESIDE LISTER BUILDING, HIGH COURT BUS STOP, RING ROAD,IBADAN
104OYOERUWASANGO ERUWA
105OYOLEBANON17 LEBANON STREET DUGBE IBADAN
106OYOIWO ROADYIDI BUS STOP, GATE, IBADAN
107OYOSAKIOPP.SAKI WEST LOCAL GOVT. SECRETARIAT,SAKI
108PLATEAUKURUNIPSS KURU JOS PLATEAU STATE
109PLATEAUMM WAY JOS23 MM WAY JOS
110RIVERSOKPORO BRANCH119 OKPORO ROAD
111RIVERSPORTHACOURT MAIN26, ABA ROAD. PH
112RIVERSTRANS AMADIPLOT 270 TRANS AMADI INDUSTRIAL LAYOUT PORTHARCOURT
113RIVERSIGRUWUTA100 AIRPORT ROAD IGWURUTA PORT HARCOURT
114RIVERSOLU OBASANJO143 OLU OBASANJO WAY
115RIVERSPH REFINERY CASH CENTREPHRC
116RIVERSRUST CASH CENTERRIVERS STATE UNIVERSITY OF SCIENCE & TECH  CAMPUS NKPOLU
117RIVERSONNE CASH CENTERFLT ROAD ONNE
118RIVERSNCHIA33 HOPITAL ROAD OGALE
119SOKOTOSANI ABACHA16 SANI ABACHA WAY  FORMERLY KANO ROAD                                                                                                                                                                                                                                                                                      
120TARABAJALINGOHAMMARUWA WAY,  OPP. OCEANIC & UNION BANK                                                                                                                                                                                                                                                                                   
121YOBEDAMATURUMAIDUGURI ROAD,OPPOSITE GOVERNMENT HOUSE
122ZAMFARACANTEEN ROADSANI ABACHA WAY, GUSAU

Please stay safe, and together we will beat COVID-19.
 
Thank you for making Polaris Bank your preferred Bank.

Yours in Service
Polaris Bank Limited.

Polaris Bank Logo

Polaris Bank Declares ₦27.8billion Profit

  • Capital Adequacy and Liquidity Ratios above regulatory requirements
  • To reap benefits of IT investment in 2020

It was cheering news over the weekend as Polaris Bank Limited released its first Audited IFRS 2019 compliant financial result posting a profit before tax of N27.8billion.  The result which posits a compelling narrative in the history of Nigeria’s banking industry followed from the turn-around initiatives undertaken by the leadership of the Bank led by the MD/CEO Mr. Adetokunbo Abiru.

According to the Bank’s first full year financial result released during the weekend, Polaris Bank Limited posted a gross earnings figure of ₦150.8bilion and a Profit Before Tax (PBT) of N27.8billion within the first full year of operations. The remarkable achievements coming in the first year of operations of the institution is a clear validation of regulatory induced interventions in the nation’s history.

The Bank also closed the 2019 financial year with Total Assets of N1.1trillion and Shareholders Funds of N83billion. The result shows that Polaris Bank’s Capital Adequacy Ratio (14%) and liquidity ratio (81%) are well above regulatory requirements demonstrating strong prudential compliance and strong capital buffer, careful liquidity management and resilience.

This result is coming amidst the highly challenging business environment which forced many businesses to cut down on their operating expenses.

The Bank’s customer deposits stood at N857.9billion even as the Bank continues to focus on stable, low-cost deposits and well-diversified portfolio devoid of high concentration. Likewise, the loan book stood at N261billion providing the Bank with the desired headroom to accommodate required growth in risk assets to support the nation’s economic growth.

The Bank equally recorded a Return on Equity (ROE) and Return on Assets (ROA) of 33.0% and 2.4% respectively for the year ended December 31st 2019.

Commenting on the Bank’s performance, the Managing Director/Chief Executive Officer (MD/CEO) of Polaris Bank Limited, Mr. Adetokunbo Abiru said that: “the emergence of Polaris Bank on September 21, 2018, has heralded a new dawn as it laid the foundation for institutional competitiveness and service innovation in the nation’s challenging banking space.”  

Expressing satisfaction with the Bank’s new corporate governance regime, the Chief Executive Officer noted that “We shall continue to run an ethically governed Bank, upholding sound risk management practices and proactively taking measures to mitigate the impact of the adverse business environment while the Board and Management continue to guide the Bank towards a path of sustainable growth.

Polaris Bank’s performance has assured a strong positive outlook for earnings, margins, and profitability improvement in its 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 2020 and despite the challenging macroeconomic environment, The Bank says it is poised to reap the benefits of its investment in both the capacity of its employees to improve service experience as well as in critical infrastructures that will support the digitization of its operations.

Polaris Bank is a future-determining Bank committed to the delivery of 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.

Click here to view Polaris Bank Ltd's financial results for 2019