Polaris Bank is a bridge bank that assumed ownership of assets and liabilities of erstwhile Skye Bank effective Monday, September 24, 2018 by the declaration of the Central Bank of Nigeria (CBN).
The Nigeria Deposit Insurance Corporation (NDIC) injected N786bn into the new bank, positioning the bank rightly for profitability.
The bank is poised to deliver exceptional customer experience leveraging best in class/state of the art in Information Communication Technology (ICT).
With significant investment in ICT solutions across multiple service delivery channels; mobile banking, ATMs, POS and online platforms, Polaris bank maintains a pivotal role in the Nigerian banking industry, providing customers with simple, convenient and secured banking services.
Driven to deliver solutions that meet the current and futuristic needs of the customers, the bank offers an array of digital customer solutions well suited for the different market segments, with strong value proposition and seamless onboarding process for the unbanked.
Polaris Bank took over and assumed ownership of assets and liabilities of erstwhile Skye effective Monday, September 24, 2018. The CBN appointed Mr. Muhammad K. Ahmad, OON, as its board Chairman; while Mr. Adetokunbo Mukhail Abiru (Tokunbo) continues to lead the bank as Managing Director/CEO supported by a team with vast industry experience and dedicated focus to drive sustained growth and optimal profitability.
The new management is vested with the responsibility of entrenching sound corporate governance and risk management practices while positioning the bank rightly for investors.
Polaris Bank is well positioned to deliver industry-defining products, services and platforms across all the key market segments of the Nigerian economy; serving a wide customer base in the public and private sector, including large and small corporate organizations, SMEs, professional groups and institutions. The Bank has correspondent banking relationships with notable players in the international financial service sector, largely to support its customers’ requirements for project and trade finance. The Bank also plays strongly in the following areas, among several other banking operations: