In a bid to deepen its operations, LOTUS Bank – a non-interest Nigerian bank has expanded into agency banking by opening a new branch in the country’s commercial centre.
The fast-growing innovative financial institution marked its first anniversary by commissioning its 20th branch in Idumota Lagos Island and the launch of its first agency banking LOTUSMART to help expand the campaign for financial inclusion in the sector.
To underscore the expansion of the financial institution into agency banking, Ademola Abere, Head of Agency Banking said, “Financial inclusion is a tool for economic development, and it is the area banks and non-banks are keenly interested in currently.”
“A whole lot of things are happening in this space and it is about bringing financial services to the last mile where you have people offering financial services in communities,” he said.
“We kicked off on the streets of Obalende where we have our first agent, Peter who is coming on board as the first LOTUSMART agent. We want to use this medium to tell everyone that LOTUSMART is here to stay. It is simple, smart, and would help drive financial inclusion to its best,” he added.
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Also, in line with institutional values to promote environmental friendliness and sustainability and also as part of activities to mark its first anniversary, the bank partnered with Lagos State Parks and Gardens Agency (LASPARK) for a tree-planting exercise.
Kafilat Araoye, managing director and CEO of LOTUS Bank underpinned the significance of the exercise on the core values of the institution since it was founded a year ago.
According to Araoye, the commitment of the bank to environmental friendliness is beyond just a symbol on its logo but also reflects on the modus-operandi and the architecture of the organization.
“If you look at our logo, it is a tree, and this is not by accident. We believe in helping the environment and sustainability. What you see happening around society is alarming, instead of people planting trees, we are cutting them. And part of our core beliefs as a bank is that we must support growth in all its ramifications,” she said in a statement.
“Having trees in our environment adds so much value such as absorbing carbon dioxide which is hazardous to human health, creating shade and being productive, generally,” she added.
Also speaking at the tree-planting ceremony, Adetoun Popoola, general manager, LASPARK, while commending LOTUS Bank identified partnerships as a critical plan in helping the United Nations and humanity to achieve Sustainable Development Goals (SDGs).
“We have planted trees in commemoration of the first anniversary of LOTUS Bank. I believe it is the beginning of a bigger partnership where we will be planting more trees around Lagos as well as embarking on beautification and landscaping in Lagos.”
