• Monday, April 22, 2024
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BusinessDay

Unity Bank grows deposits, capital by over 50%

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Unity Bank Plc recorded over 50 percent increase in deposits and capital base during the first season of its ‘save and win promo’ which had over 1,000 customers rewarded with various prizes, Ado Yakubu Wanka, the bank’s managing director said on Monday.

The bank spent over N100 million to conduct this first promotion exercise and would be spending more of that sum for the second edition of the ‘Aim, Save and Win’ promo which flagged off in Abuja.

The second edition which would begin on June 4 would last for six months.

At the launch, Wanka said the second edition brings a 3-in-1 savings advantage to the bank’s existing and prospective customers who would stand a chance of winning some prizes as they choose to open and grow their accounts with the bank.

He explained that the objective of running the ‘aim, save and win’ promo is to get customers more inclined to save, increase and sustain the bank’s deposit base and also a strategy to give back to the society by rewarding the customers and empowering some of their loyal customers to start their own businesses.

The bank is also using the exercise to strategically deepen its brand presence; especially as competition in the banking industry gets stiffer.

Unity Bank’s aim, save and win promo has realistic and achievable requirements placed on the customer and the reward is a win-win case for both the customer and the bank, Wanka said.

While the bank increases its savings, the customer gets to save more and would be eligible for prizes if he or she wins.

Specifically, the savings promo would afford the existing and prospective customers to grow any of their savings accounts by a minimum amount for a period of 45 days. In return, they stand a chance to win prizes which range from cars, sound proof generators, and scholarships for kids, LED television sets, to empowerment tools for artisans and lots more.

To qualify for the promo, new customers are expected to open and maintain the required balance for a minimum of forty five days in any following types of savings account with the bank – savings