• Tuesday, June 25, 2024
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Skye Bank’s balance sheet rises to N1.5trn

Skye Bank’s balance sheet rises to N1.5trn

Skye Bank plc has begun enjoying the benefits of its recent acquisition of Mainstreet Bank Limited as its balance sheet has risen to N1.5 trillion from the pre-acquisition value of N1.2 trillion.

Similarly, the bank’s branch network is now 450 compared with 260 branches before the business combination with Mainstreet Bank.

Timothy Oguntayo, the group managing director/CEO of the bank, said these at the weekend during a ‘Corporate Partners’ forum held in Lagos. The enhanced balance sheet has put the bank in a better position to take on bigger transaction tickets, he said, promising that its customers would be the better for it.

Oguntayo also explained that the increased branch network would make access to the bank’s services easier as branches were now easily accessed, saying the bank’s combined automated teller machines network was now 815 from 600, prior to the acquisition.

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He assured the bank customers of excellent and customised services at all time, explaining that the desire to serve the customers better informed the launch of a customer service charter in the past.

The bank boss thanked the customers for their loyalty and patronage, and promised to exceed their expectations as the partnership blossoms.

A customer of the bank and chairman, Honeywell Group, Oba Otudeko, commended the bank for the bold initiatives it took to acquire Mainstreet Bank, saying a bigger and stronger Skye Bank would be better placed to satisfy the customers and deliver more value to the stakeholders.

He also lauded the integrity demonstrated by the bank and urged its management not to deviate from it, tasking them to ensure that shareholders were given value.

Richard Amafonye, the bank’s head of information technology, told the audience of some features of its latest IT software that allow self service and convenience anywhere.

He said they include foreign exchange transfer feature, multi-pay platform, trade services portal for importers and exporters, among others.