Parallex Bank Challenges Access, GTB, Zenith, UBA, Other Banks for Customers, Makes Promises

Parallex Bank Challenges Access, GTB, Zenith, UBA, Other Banks for Customers, Makes Promises

  • Parallex Bank Nigeria's latest commercial bank licensed by the CBN has officially launched operation
  • More branches across the country have been planned as it moves to challenge Access, Gtbank, and Zenith, among others, for customers
  • Parallex Bank is the first microfinance bank in Nigeria to transform into commercial banking

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Parallex Bank, the latest commercial bank in Nigeria, has unveiled a new branch in Lagos state.

The bank also promised to unveil 12 more branches before the end of the year.

Speaking at the official launch, Olufemi Baker, managing director at Parallex Bank, promised to introduce disruptive technology and innovative products into the Nigerian banking space.

Parallex Bank customers Access, UBA
Parallex Bank plans 12 new branches Photo credit: Parrallex
Source: Facebook

He also said there would be deployment of solution-driven banking applications and first-class service to give it a competitive edge, Punch reports.

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His words:

‘Our first task is to understand every customer’s business, needs and history and come up with the best available offerings that are unique and unmatchable in the industry, using technology and talent, which has enabled us not only to compete but to be nothing than the best in the industry."

Parallex Bank customers

Bakare revealed that the bank has over 100,000 customers, adding that products would be introduced to attract more.

He also revealed plan to open five new branches in strategic locations including Lekki, Ibadan, Abuja, Warri, and Isolo.

Also speaking, the Chairman of Parallex Bank, Dr Adeola Adejoke Phillips, stated that the bank is not only expanding branches but also deepening its innovation and impacting businesses.

She stated that the bank is dedicated to leading in innovation, efficiency, corporate governance, fostering a culture of growth, providing business support, and striving to surpass stakeholders' expectations.

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Phillips also emphasized that through the Marina branch, traders, importers, exporters, corporate entities, and business proprietors in the vicinity would experience top-tier banking services and solution-oriented offerings provided by the bank.

Failed bank: How to get back your money if your bank suddenly crashes

In another report, revealed how bank customers could get their money back even if their bank fails.

The information became important given the crash of two big banks in the US, which left many Nigerians concerned about the financial health of their banks.


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