The Group Managing Director of the Polaris Bank Limited, Mr. Tokunbo Abiru over the weekend expressed optimism that the bank formerly Skye Bank Plc would transform into one of the best five in the industry within the next five years.
He spoke at the graduation of 61 graduate trainees of Polaris Business School, held at Polaris Bank Training School, Jericho GRA, Ibadan.
Notwithstanding the recent development, Mr. Abiru assured that under his watch, the bank’s current asset and deposit would triple in a couple of years.
Abiru premised this resolve on the continued implementation of the July 2016 regulatory intervention to include entrenching sound corporate governance and risk management practices and transforming Polaris into full fledged retail and commercial bank with strong digital backing.
He added that the Polaris bank boasted of a strong market share going by several transformative business initiatives and remained one of the most liquid and most capitalized banks in Nigeria.
“We are a systemically important bank and we also currently rank number nine in the banking industry, so our emphasis will be on all the improvements we have achieved in terms of corporate governance which has laid a very strong foundation for us, very robust risk management.
What we see in the next five years is a stronger retail and commercial with an underpinning for digital transformation. I see a major transformation of the bank. Part of the initiatives we continue to deliver following the July 2016 regulatory intervention include stabilizing the institution, entrenching sound corporate governance and risk management practices, and the restoration of depositors’ confidence,” Abiru said.
