Heritage Bank Appoints Three New Directors


AS part of its efforts to boost service delivery and consolidate its emergence as one of the leading banks in the country, Heritage Bank has appointed three new directors. This came about six months after the lender acquired Enterprise Bank Limited from the federal government-owned Asset Management Corporation of Nigeria.

The bank said it had appointed Adaeze Udensi as the executive director, south directorate; Ola Olabinjo as the executive director, south-west and corporate banking directorate; and Jude Monye as the executive director, risk management.

Ifie Sekibo, managing director/chief executive officer of the bank, was quoted as saying that the appointments demonstrated the lender’s commitment to offering the best services through the employment of competent and experienced bankers.

“The successful acquisition of Enterprise Bank has projected Heritage Bank into the leadership rank of the banking industry with huge expectation of quality, fast and efficient banking services from our customers and members of the banking public. We intend to consolidate on this leadership status and exceed expectations by ensuring every customer of the enlarged Heritage Bank enjoys fast and efficient services irrespective of their location in the country. The three new directors are bringing to Heritage Bank more than 50 years of banking experience among them, spanning various aspects of banking services across the industry, and these would contribute greatly to the achievement of this goal,” he said.

Prior to joining Heritage Bank as the executive director, south directorate, Udensi worked at Zenith Bank Plc where she performed very well. She holds a Bachelor’s degree and Master’s degree in Banking & Finance and Business Administration, respectively from Rivers State University of Science and Technology, and has over 17 years of rich banking experience.

Olabinjo, executive director in charge of Lagos, south-west and corporate banking, joined Heritage Bank from FCMB where he was a senior vice president. He has more than 18 years of banking experience spanning investment banking, corporate banking, transaction banking, risk management, treasury and operations. He holds a Bachelor’s and Master’s degree in Economics from the University of Ife and the University of Lagos respectively and is also an alumnus of Lagos Business School.

Monye, the executive director, risk management, joined Heritage Bank from Wema Bank Plc where he was the chief risk officer and head of the Enterprise Risk Management division. Monye has more than 25 years experience in various areas including risk management, finance, credit administration, regulatory compliance; control, and system audit; structured finance in upstream oil sector, SME development and project management. He holds a B.Sc in Chemistry, MBA and M.Sc degrees from University of Nigeria and University of Ibadan, respectively.

Skye Bank Disburses N50 to SMEs

Timothy Oguntayo, GMD, Skye Bank Plc
Timothy Oguntayo, GMD, Skye Bank Plc

SKYE Bank Plc has disbursed the sum of N50 million Small and Medium Enterprises support loan under the Central Bank of Nigeria’s MSME Intervention fund. According to a statement from the bank, business owners can access the intervention fund if they have a good credit record, and a loan request that is above N5 million.

The lender added that prospective loan applicants were expected to be operating in any of the following specified sectors of manufacturing, education, agro value chain and renewable energy. Timothy Oguntayo, group managing director/chief executive officer of the bank, was quoted as saying that the bank would continue to partner with small business owners who are interested in creating value and contributing to the development of the country.

The CEO said that beyond the loans, Skye bank had put structures and modalities in place to make the SME sector the true driver of development by helping the operators to overcome their problems and grow their businesses. This, he said, was being done through the bank’s sector-based seminar series initiative aimed at improving the financial, marketing and managerial skills of the SME business owners in partnership with affinity groups like BDSPs.

Oguntayo assured the SME operators of the bank’s support to grow and expand their businesses, saying the bank’s SME support package would take care of all operators. The CBN had set up N220 billion Support Fund to provide funding to operators in the SME sector, who lack capital to expand their businesses and have difficulty accessing loans from commercial banks due to high interest rates.

Under the scheme, loan beneficiaries pay a single digit interest on loan facilities granted them, and have a longer repayment period, unlike facilities from commercial banks which attract higher interest rates.

— May 18, 2015 @ 01:00 GMT