Nigeria’s latest licensed bank, Premium Trust Bank, opened to customers after the Easter holidays in Port Harcourt as the Managing Director, Emmanuel Emefienim, says the speed of execution of activities and programmes would set the new bank apart in the industry.
The bank also unveiled its branch expansion programme that would hit 22 by end of 2022.
The opening of its first operating point took place in Port Harcourt, in the Trans-Amadi area of the Garden City where industry executives, Central Bank of Nigeria (CBN) officials, and state government leaders showed a huge presence. Rivers State Commissioner of Commerce and Industry, Ifeyinwa Nwankpa, represented Governor Nyesom Wike.
Speaking with newsmen after the opening, the CEO who left Sterling Bank to pilot Premium Trust explained that the bank operates within the same rules and within limits allowed by the regulators. However, it is the strategic method or style of delivering on products that set a bank apart.
“We are going to be deliberate about it. We know the people, we know the market, we understand the environment, and we understand the market. So, when you have a strong knowledge of the people and the market, taking decisions on transactions comes easy. This is because you are clear about what you want to do,” he said.
The CEO who has acquired significant knowledge of the industry with many years in the south-south region, said the new bank would leverage technology to bring that to pass.
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He also noted that his team would co-create solutions with their customers making them part of the process.
“This is in the sense that we understand what they want, we sit with them to proffer solutions to those problems, and we come up with products that are tailor-made to solving the problems.
So, by the time we deploy such products, there is some level of alignment. This for us, is a journey that ensures we grow together with our customers, impact lives and build communities consistent with our tagline – Together for Growth,” said Emefienim.
On expansion, he said the bank is unique and that its expansion plan had been endorsed by the regulator. While the bank has only just launched its first branch, he stated, it will open five additional branches within the next 60 days; and then wrap up with a total of 22 branches across the country by end of 2022.
Emefienim also noted that the bank would be bullish on the use of technology and other digital solutions to reach the unbanked and deepen financial inclusion among the populace.
He said within a few years, Premium Trust Bank would become a household name in Nigeria. “We are not saying that just for the fun of it, we are riding on the back of the knowledge of the market, the experience we have, the products we are deploying, and the co-creation strategy or direction of delivering solutions to customers’ requests.”
