Business
Digital banking holds the key to financial inclusion in Nigeria – GTBank CEO, Segun Agbaje
Nigeria’s economy may be in a difficult period, but with digitalisation at the core of the national banking strategy, financial inclusion has been given room to grow
Nigeria is becoming increasingly connected thanks to digital banking
Author: SegunAgbaje, Managing Director and CEO of Guaranty Trust Bank
“There are so many people in Africa that are outside the banking system”, said SegunAgbaje, Managing Director and CEO of Guaranty Trust Bank (GTBank), one of the continent’s leading financial institutions. “For you to be part of organised society, financial inclusion is a must.”
Slowly but surely, financial inclusion in Africa is improving. In fact, the Central Bank of Nigeria predicts that, by 2020, the number of adult Nigerians with access to payment services will increase to around 70 percent (see Fig 1). “It’s not as superfast as we would like it to be, but there are marked improvements, and this is steadily increasing”, said Agbaje, speaking to World Finance. “Just 10 years ago, data on financial inclusion was hard to come by. Now we know just how much better we must do in order to expand access to financial services.”
Access to savings, credit, insurance and pensions is also growing rapidly. “Encouraging as these projections are, we know that there’s a lot more to be done. This is why, at GTBank, we are keen to leverage digital technology to expand the reach of our products and services. Mobile has become very, very big and we have begun to see people doing a lot using their mobile phones.”
Agbaje points to the example of Kenya’s M-Pesa, a mobile-based money transfer and finance platform that is now used by more than two thirds of the country’s adult population. The mobile app serves as a channel for approximately 25 percent of Kenya’s GNP. “When I look at our mobile technology compared to a lot of developed economies, I think we’re a lot further ahead. You know, I actually think that the African banking sector is very much ahead in terms of mobile banking. And I think African banks are probably embracing disruptive technologies a lot quicker, because we don’t have as many legacies.”
Making banking more mobile
This readiness to embrace new technologies has helped a large proportion of the African population skip whole stages of traditional digital development altogether. Indeed, for many, a smartphone is their first computer. Agbaje said: “From experience, we know that the major reasons for financial exclusion include the lack of physical access to financial institutions, inadequate understanding of financial institutions and their products, general distrust in the system, and the affordability of products as a result of minimum opening balance requirements.”
Despite these hurdles, technology is helping forward-thinking institutions tackle such challenges head on, prompting financial inclusion to leap forward on the African continent. Agbajeexplained: “The world is changing around us and the future of banking is digital. To protect our traditional business and maintain our social relevance, we are incorporating another model, which involves mobile phones, use of data, partnerships and collaborations. Simply put, we are creating a platform to support our traditional business model by leveraging digital solutions.”
GTBank’s Bank 737 provides banking services to millions of Nigerian mobile phone owners, and does not require internet access to perform basic banking services. Anyone with a phone registered in Nigeria can open an account, transfer money, buy airtime or check their balance by dialling *737#. The convenience of Bank 737 lies in the fact that all of its services can be accessed through a customer’s mobile phone, at the dial of *737#. And because stable internet access is still not ubiquitous in Africa, Bank 737, being USSD-powered, side steps the need for an internet connection.
“Through this service, which makes banking simpler, cheaper and faster, we continue to pull into the banking stream many of those who have long been excluded from the country’s financial framework”, said Agbaje. “Since its introduction, we have recorded an uptake of over three million customers and over NGN 1trn [$3.1bn] in transactions via the platform.
The reception of Bank 737 has been phenomenal, with it gaining recognition as Product of the Year in Africa from The Asian Banker and Best Digital Bank in Africa from Euromoney. The bank was also the recipient of six awards at the 2017 Electronic Payment Incentive Scheme Awards, which was organised by the Central Bank of Nigeria in conjunction with the Nigeria Interbank Settlement System to recognise financial institutions, merchants and other stakeholders at the forefront of driving electronic payments in Nigeria.”
Digitally minded
“Core to our digital strategy is both our understanding that the future of banking is digital, and our determination to lead that future”, Agbaje said. “We know, because digital technologies have dissolved the boundaries between industry sectors, that our competition is no longer just banks. It now includes fintechs, telcos and tech companies that can provide speed and flexibility to customers as we can. This creates tough challenges for the banking sector, but it also creates ample opportunities to extend our footprint.”
A readiness to embrace new technologies has helped large portions of the African population skip whole stages of traditional digital development altogether
For example, the bank’s SME MarketHub is an e-commerce platform that allows business owners to create online stores. Agbaje told World Finance: “Our strategy is to take advantage of the new opportunities born from the digital revolution by moving beyond our traditional role as enablers of financial transactions and providers of financial products, to playing a deeper role in the digital and commercial lives of our customers. In pursuit of this strategy we have created our own in-house fintech division, while also actively seeking partnerships and collaborations with other fintechs.
“Our immediate focus is three-pronged; to digitalise our key processes, build a robust data-gathering infrastructure, and create a well designed, segmented and integrated customerexperience, rather than a one-size-fits-all distribution. In the long run, our goal is to build a digital bank that consistently delivers faster, cheaper and better solutions for the constantly evolving needs of our customers.”
The lack of digital and electrical infrastructure, as well as lower levels of wealth than those found in more developed markets, means that there are some barriers to the full adoption of digital banking that are particular to Africa. “Another obvious challenge is the little focus given to innovation in the banking industry.
African banks, like most banks across the world, tend to innovate in bite sizes, and generally around products, rather than service delivery. It was almost as though banks believed that ownership of the customer was their right, as long as they had the branch network to support customer footfall. Now, facing the real threat of losing relevance, banks are waking up to this need to innovate – not just out of dire necessity, but as a strategic objective.”
Agbaje also pointed out that, while GTBank has made significant gains in getting customers to accept digital banking as a viable alternative to traditional forms, there is still more to be done. That said, he is hopeful that the Central Bank of Nigeria’s ‘Cash-less Nigeria’ policy, which discourages the use of cash, will drive greater migration to e-banking platforms.
“We are also tackling the innovation challenge. We now operate an open innovation policy, through which we invest significantly in building our in-house digital capabilities. At the same time, we are seeking effective partnerships and alliances to drive operational efficiency and boost our competitive advantage.
“We want to become a fully digital bank that offers everyday banking services outside of traditional bank walls, but more than that, we want to create digital touch points that ensure we are constantly interacting and playing a deep role in the lives our customers. This of course requires a sustained commitment, and we have repositioned our business structures in such a way that makes us very confident in our continued leadership of Africa’s digital frontier.”
Gaining interest
Despite the difficult business environment in 2016, GTBank enjoyed “a fairly decent year”, according to Agbaje. The bank overcame these challenges by growing its retail business and leveraging technology to deliver superior payment solutions to make banking simpler, faster and better. Gross earnings for the period grew by 37 percent to NGN 414.62bn ($1.3bn), from NGN 301.85bn ($959m) in December 2015 (see Fig 2).
This was driven primarily by growth in interest income, as well as foreign exchange income. Profit before tax stood at NGN 165.14bn ($524.7m), representing a growth of 37 percent since December 2015. The bank’s loan book also grew 16 percent, from the NGN 1.37trn ($4.4bn) recorded in December 2015 to NGN 1.59trn ($5.1bn) in December 2016, with corresponding growth in total deposits increasing 29 percent, to NGN 2.11trn ($6.7bn).
Likewise, the bank’s balance sheet remained strong with a 19.7 percent growth in total assets and contingents, reaching NGN 3.70trn ($11.8bn) at the end of December 2016, while shareholders’ funds reached NGN 504.9bn ($1.6bn). The bank’s non-performing loans remained low at 3.29 percent – below the regulatory threshold of 3.66 percent, with adequate coverage of 131.79 percent. Against the backdrop of this result, return on equity (ROE) and return on assets closed at 35.96 percent and 5.85 percent respectively.
According to Agbaje: “The vision of the bank is to build an oasis in a country that was not necessarily known for doing things properly, so we focused on ethics and integrity. And once you build anything on that type of foundation – because even though things change, values never change – and bring in very young people who imbibe this culture along with a healthy attitude towards work, you have a workforce that’s very young and dynamic, possessing all the right values to enable you to build a successful organisation.”
Pan-African
GTBank is building on its successes both at home and abroad through its ‘Pan-African’ growth strategy. Apart from its home market in Nigeria, the bank enjoys a presence in three countries in east Africa (Kenya, Rwanda and Uganda), five in the west (Ivory Coast, Gambia, Ghana, Liberia and Sierra Leone) and has plans to have another in Tanzania by the end of the year.“Our strategy has always been to go into a country and take the high end of the middle market, and then as we grow, enter into the corporate markets.
“We are building a high-end type retail business because the middle class is emerging in most countries in Africa, and where you have an emerging middle class, you have a lot of banking opportunities. So far, we have been fairly successful, delivering an ROE after tax of over 25 percent.”
The bank’s expansion strategy has enjoyed remarkable success, with businesses outside Nigeria now accounting for 15 percent of total deposits, 11 percent of its loans and around 8.2 percent of its profit. Over the next three years, Agbaje expects subsidiary contribution to grow further, to approximately 20 percent.
He told World Finance: “I’m pretty excited about the fact that the profit of the bank has grown by over 300 percent in the last five years. Our customer base has grown from around two million to over 10 million, and we have built a very strong e-business as well.
“We are driven by a vision to create a great African institution; an institution that can compete anywhere in the world in terms of good corporate governance culture and performance. We are driven by the desire to be, in terms of best practices, as good as any institution in the world. As a bank, we always want to do better than 25 percent ROE, and if we have the corporate governance that you’d find anywhere else in the world, then we’ll always be an attractive destination for discerning international investors.”
Growing the SME sector
According to Agbaje: “At GTBank, we have been enriching lives since 1990. We do this by giving people a source of livelihood, growing businesses and offering them scale and infrastructure that might not have been available to them otherwise. We are doing things that people never thought possible, and doing most of it for free. Our aim is to continuously transform our organisation into a business enterprise that is all about creating value for our customers, shareholders and the communities in which we operate.”
A key area of focus for GTBank has been widening financial access and building capacity for SMEs. “What we have found with a lot of SMEs is that the financial capacity to borrow isn’t there yet”, said Agbaje. “This is why we created the MarketHub, so that our customers can have an e-commerce platform in addition to their traditional market places so they can grow their revenues.”
Building this online economy is important for both customers and the host economy as a whole, as well as for GTBank. “If we can help increase your sales, then we increase your cash flow andwe increase your ability to repay loans. We give loans, but what people must remember is that we have no money of our own, so whatever loans we give must come back.”
As part of the bank’s long-term growth strategy, it has developed a rapidly growing SME franchise that is radically positioning the bank as the apt financial institution for small and medium-size enterprises. This is built on the bank’s understanding of the crucial role of small businesses when it comes to the sustenance of economic growth and development.
Facing the real threat of losing relevance, banks are waking up to the need to innovate – not just out of dire necessity, but as a strategic objective
“As a foremost financial institution, we have a huge obligation to our host communities: not only must we never fail, we have to remain consistent in delivering superior performance and creating value for our stakeholders. We are constantly innovating how we give back to our host communities by going beyond traditional corporate philanthropies. We intervene in key economic sectors to strengthen small businesses through non-profit, consumer-focused fairs and capacity building initiatives that serve to boost their expertise, exposure and business growth.”
In May 2016, the bank held the first of its consumer-focused initiatives: the GTBank Food and Drink Fair. The aim was to promote enterprise within the Nigerian food industry by connecting small businesses involved in the production and sale of food and food-related items to a large audience of consumers and food enthusiasts. The event hosted more than 90 exhibitors from the food sector and attracted around 25,000 guests over its two-day period.
This event was shortly followed by the GTBank Fashion Weekend in November 2016, which targeted the country’s fast-growing fashion industry. The event was a huge success, becoming a meeting point for all stakeholders in the industry and providing a space for retail exhibitions, masterclasses and runway shows.
“We plan to continue such initiatives across viable sectors where we can help small businesses boost their growth potential and productivity. These initiatives are driven by our ambition to play a deeper role in people’s social and commercial lives, thus positioning ourselves at the centre of an extended ecosystem that serves both their banking and non-banking needs, while allowing for frequent interaction between them and our organisation.”
Recapitalisation Without Transformation is a Risk Nigeria Cannot Afford
BY BLAISE UDUNZE
In barely two weeks, Nigeria’s banking sector will once again be at a historic turning point. As the deadline for the latest recapitalisation exercise approaches on March 31, 2026, with no fewer than 31 banks having met the new capital rule, leaving out two that are reportedly awaiting verification. As exercise progresses and draws to an end, policymakers are optimistic that stronger banks will anchor financial stability and support the country’s ambition of building a $1 trillion economy.
The reform, driven by the Central Bank of Nigeria (CBN) under Governor Olayemi Cardoso, requires banks to significantly raise their capital thresholds, which are set at N500 billion for international banks, N200 billion for national banks, and N50 billion for regional lenders. According to the apex bank, 33 banks have already tapped the capital market through rights issues and public offerings; collectively, the total verified and approved capital raised by the banks amounts to N4.05 trillion.
No doubt, at first glance, the strategy definitely appears straightforward with the idea that bigger capital means stronger banks, and stronger banks should finance economic growth. But history offers a cautionary reminder that capital alone does not guarantee resilience, as it would be recalled that Nigeria has travelled this road before.
During the 2004-2005 consolidation led by former CBN Governor Charles Soludo, the number of banks in the country shrank dramatically from 89 to 25. The reform created larger institutions that were celebrated as national champions. The truth is that Nigeria has been here before because, despite all said and done, barely five years later, the banking system plunged into crisis, forcing regulatory intervention, bailouts, and the creation of the Asset Management Corporation of Nigeria (AMCON) to absorb toxic assets.
The lesson from that experience is simple in the sense that recapitalisation without structural reform only postpones deeper problems.
Today, as banks race to meet the new capital thresholds, the real question is not how much capital has been raised but whether the reform will transform the fundamentals of Nigerian banking. The underlying fact is that if the exercise merely inflates balance sheets without addressing deeper vulnerabilities, Nigeria risks repeating a familiar cycle of apparent stability followed by systemic stress, as the resultant effect will be distressed banks less capable of bringing the economy out of the woods.
The real measure of success is far simpler. That is to say, stronger banks must stimulate economic productivity, stabilise the financial system, and expand access to credit for businesses and households. Anything less will amount to a missed opportunity.
One of the most critical issues surrounding the recapitalisation drive is the quality of the capital being raised.
Nigeria’s banking sector has reportedly secured more than N4.5 trillion in new capital commitments across different categories of banks. No doubt, on paper, these numbers may appear impressive. Going by the trends of events in Nigeria’s economy, numbers alone can be deceptive.
Past recapitalisation cycles revealed troubling practices, whereby funds raised through related-party transactions, borrowed money disguised as equity, or complex financial arrangements that recycled risks back into the banking system. If such practices resurface, recapitalisation becomes little more than an accounting exercise.
To avert a repeat of failure, the CBN must therefore ensure that every naira raised represents genuine, loss-absorbing capital. Transparency around capital sources, ownership structures, and funding arrangements must be non-negotiable. Without credible capital, balance sheet strength becomes an illusion that will make every recapitalization exercise futile.
In financial systems, credibility is itself a form of capital. If there is one recurring factor behind banking crises in Nigeria, it is corporate governance failure.
Many past collapses were not triggered by global shocks but by insider lending, weak board oversight, excessive executive power, and poor risk culture. Recapitalisation provides regulators with a rare opportunity to reset governance standards across the industry.
Boards must be independent not only in structure but also in substance. Risk committees must be empowered to challenge executive decisions. Insider lending rules must be enforced without compromise because, over the years, they have proven to be an anathema against the stability of the financial sector. The stakes are high.
When governance fails, fresh capital can quickly become fresh fuel for old excesses. Without governance reform, recapitalisation risks reinforcing the very weaknesses it seeks to eliminate.
Another structural vulnerability lies in Nigeria’s increasing amount of non-performing loans (NPLs), which recently caused the CBN to raise concerns, as Nigeria experiences a rise in bad loans threatening banking stability.
Industry data suggests that the banking sector’s NPL ratio has climbed above the prudential benchmark of 5 percent, reaching roughly 7 percent in recent assessments. Many of these troubled loans are concentrated in sectors such as oil and gas, power, and government-linked infrastructure projects, alongside other factors such as FX instability, high interest rates, and the withdrawal of Covid-era forbearance, which threaten bank stability.
While regulatory forbearance has helped maintain short-term stability, it has also obscured deeper asset-quality concerns. A credible recapitalisation process must confront this reality directly.
Loan classification standards must reflect economic truth rather than regulatory convenience. Banks should not carry impaired assets indefinitely while presenting healthy balance sheets to investors and depositors.
Transparency about asset quality strengthens trust. Concealment destroys it. Few forces have disrupted Nigerian bank balance sheets in recent years as severely as exchange-rate volatility.
Many banks still operate with significant foreign exchange mismatches, borrowing short-term in foreign currencies while lending long-term to clients earning revenues in naira. When the naira depreciates sharply, these mismatches can erode capital faster than any credit loss.
Recapitalisation must therefore be accompanied by stricter supervision of foreign exchange exposure, as this part calls for the regulator to heighten its supervision. Banks should be required to disclose currency risks more transparently and undergo rigorous stress testing at intervals that assume adverse currency scenarios rather than best-case outcomes. In a structurally import-dependent economy, ignoring FX risk is no longer an option.
Nigeria’s banking system has long been characterised by excessive concentration in a few sectors and corporate clients, which calls for adequate monitoring and the need to be addressed quickly for the recapitalization drive to yield maximum results.
Growth in most advanced economies comes from the small and medium-sized enterprises that are well-funded. Anything short of this undermines it, since the concentration of huge loans to large oil and gas companies, government-related entities, and major conglomerates absorbs a disproportionate share of bank lending. This has continued to pose a major threat to the system, as the case is with small and medium-sized enterprises, the backbone of job creation, which remain chronically underfinanced. This imbalance weakens the economy.
Recapitalisation should therefore be tied to policies that encourage credit diversification and risk-sharing mechanisms that allow banks to lend more confidently to productive sectors such as agriculture, manufacturing, and technology rather than investing their funds into the government’s securities. Bigger banks that remain narrowly exposed do not strengthen the economy. They amplify its fragilities.
Nigeria’s macroeconomic conditions, which are its broad economic settings, are defined by frequent and sometimes sharp changes or instability rather than stability.
Inflation shocks, interest-rate swings, fiscal pressures, and currency adjustments are not rare disruptions; but they have now become a normal part of the economic environment. Despite all these adverse factors, many banks still operate risk models that assume relative stability. Perhaps unbeknownst to the stakeholders, this disconnect is dangerous.
Owing to possible shocks, and when banks increase their capital (recapitalization), it is required that banks adopt more sophisticated risk-management frameworks capable of withstanding severe economic scenarios, with the expectation that stronger banks should also have stronger systems to manage risks and survive economic crises. In Nigeria today, every financial institution’s stress testing must be performed in the face of the economy facing severe shocks like currency depreciation, sovereign debt pressures, and sudden interest-rate spikes.
Risk management should evolve from a compliance obligation into a strategic discipline embedded in every lending decision.
Public confidence in the banking system depends heavily on credible financial reporting.
Investors, analysts, and depositors need to be able to understand banks’ true financial positions without navigating non-transparent disclosures or creative accounting practices, which means the industry must be liberated to an extent that gives room for access to information.
Recapitalisation provides an opportunity to strengthen the enforcement of international financial reporting standards, enhance audit quality, and require clearer disclosure of capital adequacy, asset quality, and related-party transactions. Transparency should not be feared. It is the foundation of trust.
One thing that must be corrected is that while recapitalisation often focuses on financial metrics, the banking sector ultimately runs on human capital.
Another fearful aspect of this exercise for the economy is that consolidation and mergers triggered by the reform could lead to workforce disruptions if not carefully managed. Job losses, casualisation, and declining staff morale can weaken institutional culture and productivity. Strong banks are built by strong people.
If recapitalisation strengthens balance sheets while destabilising the workforce that powers the system, the reform risks undermining its own economic objectives. Human capital stability must therefore form part of the broader reform strategy.
Doubtless, another emerging shift in Nigeria’s financial landscape is the rise of digital financial platforms that are increasingly changing how people access and use money in Nigeria.
Millions of Nigerians are increasingly relying on fintech platforms for payments, microloans, and everyday financial transactions. One of the advantages it offers, is that these services often deliver faster and more user-friendly experiences than traditional banks. While innovation is welcome, it raises important questions about the future structure of financial intermediation.
The point here is that the moment traditional banks retreat from retail banking while fintech platforms dominate customer interactions, systemic liquidity and regulatory oversight could become fragmented.
The CBN must see to it that the recapitalised banks must therefore invest aggressively in digital infrastructure, cybersecurity, and customer experience, while cutting down costs on all less critical areas in the industry.
Nigerians should feel the benefits of recapitalisation not only in stronger balance sheets but also in faster apps, reliable payment systems, and responsive customer service.
As banks grow larger through recapitalisation and consolidation, a new challenge emerges via systemic concentration.
Nigeria’s largest banks already control a significant share of industry assets. Further consolidation could deepen the divide between dominant institutions and smaller players. This creates the risk of “too-big-to-fail” banks whose collapse could threaten the entire financial system.
To address this risk, regulators must strengthen resolution frameworks that allow distressed banks to fail without triggering systemic panic, their collapse does not damage the whole financial system, and do not require taxpayer-funded bailouts to forestall similar mistakes that occurred with the liquidation of Heritage Bank. Market discipline depends on credible failure mechanisms.
It must be understood that Nigeria’s banking recapitalisation is not merely a financial exercise or, better still, increasing banks’ capital. It is a rare opportunity to rebuild trust, strengthen governance, and reposition the financial system as a true engine of economic development.
One fact is that if the reform focuses only on capital numbers, the country risks repeating a familiar pattern of churning out impressive balance sheets followed by another cycle of crisis.
But the actors in this exercise must ensure that the recapitalisation addresses governance failures, asset quality concerns, risk management weaknesses, and transparency gaps; and the moment this is done, the banking sector could emerge stronger and more resilient.
Nigeria does not simply need bigger banks. It needs better banks, institutions capable of financing innovation, supporting entrepreneurs, and building economic opportunity for millions of citizens.
The true capital of any banking system is not just money. It is trust. And whether this recapitalisation ultimately succeeds will depend on whether Nigerians see that trust reflected not only in financial statements but in the everyday experience of saving, borrowing, and investing in the economy. Only then will bigger banks translate into a stronger nation.
Blaise, a journalist and PR professional, writes from Lagos and can be reached via: [email protected]
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
For millions of Nigerians, homeownership has long felt like an ambition deferred. Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream.
But that narrative is quietly changing. Thanks to FirstBank.
The N1 Trillion Intervention Reshaping Access
In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria.
Backed by the Federal Government’s N1trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.
9.75% Interest Rate in a 30% Lending Environment
MREIF is priced at 9.75% per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.
Built for Salary Earners, Entrepreneurs and the Diaspora
The MREIF mortgage facility has been structured to be inclusive. It is available to salary account holders, business owners and diaspora customers. Whether you are a young professional aiming to exit the rent cycle, an entrepreneur building generational stability, or you’re a Nigerian abroad looking to secure assets locally, the product opens a pathway that has historically been out of reach for many.
Taking the First Step
For those who have been waiting for the right time, this is definitely it. The question is no longer whether homeownership is possible. The real question is: will you act before the window narrows?
Visit https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ and in no time you could be the latest homeowner in town.
Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
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