Markets

Skye Bank Targets Unbanked Population

As part of efforts to bring the huge number of the unbanked population into the banking system, Skye Bank Plc has pledged to intensify efforts to provide financial services to this category of Nigerians through a range of product offerings.
 
The Executive Director in charge of South-south Business Development/Retail Banking, Skye Bank Plc, Mrs Ibiye Ekong, who disclosed this during a chat with journalists, said the bank had perfected plans to enhance opportunities in the retail segment of the market.
 
“There are about 64 million unbanked adult population in the country, and another 16 million youth population that is unbanked.  So, a lot of opportunities abound out there for players in the industry,” she said.
 
Ekong said the bank had customised savings products for various categories of people to take care of their peculiar banking needs.
Such products, she said include Skye Save, Skye Wise Account, Skye Rainbow account, Skye Treasure account, among others.
 
She also disclosed that the bank’s customer loyalty programme known as Skye Dreams, had been enhanced with additional benefits for customers who win points based on the number of transactions they carry out.
 
Such customers stand the chance to win air tickets to some destination, among others.
 
The bank director also spoke about her bank’s activities in  promoting businesses in the South-south where she said the financial institution had empowered industrialists and entrepreneurs to grow their businesses.
 
 
She said the bank understood the peculiar business terrain of the South-south and had entered into strategic partnerships with both states and local governments in the region in revenue collection, infrastructure financing and others.
 
Ekong noted that some entrepreneurs had been unable to access bank facilities due to the structure of the businesses. In fact, she pointed out poor accounting and book keeping processes as a factor hindering access to finance by some business operators.
 
According to her, the bank had responded to the challenge by organising seminars for customers to make them better business people and entrepreneurs.

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