Parallex Bank opens Lekki branch, eyes four more in Isolo, Abuja, Warri, Ibadan

.Launches Diaspora banking

COMFORT EKELEME, Business Editor

Parallex Bank Limited, Wednesday unveiled a new branch in Lekki Lagos and plans to open four more branches before the end of the year.
This is coming weeks after the bank unveiled its Marina branch.
Chairman of the Bank, Dr. Adeola Philips, while speaking at the official launch said the branch opening is the beginning of an exciting new chapter for Parallex Bank.
She said, having opened Marina and then Lekki today, “We are set to open four new branches in strategic locations, including Ibadan, Abuja, Warri, and Isolo.
According to her, these expansions signify the bank’s unwavering commitment to reaching more communities, serving more customers, and contributing to the economic growth of the nation.
“Just some weeks ago, on October 4th precisely, we officially opened our Marina branch. It is truly a pleasure to stand before you as we mark another significant milestone in the journey of Parallex Bank Limited.
“We understand that the world of banking is evolving rapidly, driven by technological advancements and changing customer expectations. At Parallex Bank, we are committed to staying at the forefront of this evolution.
“Our vision remains to leverage technology to enhance efficiency, strengthen risk management practices, expand our product offerings, and deliver exceptional customer experiences.
“We embrace change with open arms because we know that it is through change that we can shape a brighter future for our bank and all its stakeholders,” she said
Speaking further, Dr. Philip maintained that the bank’s journey to becoming the preferred financial solutions provider is not just about numbers, adding that it’s about creating a positive economic impact, building trust, and fostering lasting relationships with our customers and communities.
“We are convinced that our responsibilities go beyond the balance sheet, and we are committed to making an impact in the communities we serve.
“I would like to take a moment to express my heartfelt gratitude to all our shareholders, customers, and stakeholders for your unwavering support and trust in Paralex Bank. Your presence here today is a testament to our shared commitment in shaping our bank’s future.
“We are committed to fostering a diversity, inclusion, and growth culture, empowering you to excel in your roes and continue delivering value to all stakeholders,” she stated.
She however, assured customers that the Board, Management, and Staff of Parallex Bank will continue to work diligently to meet and exceed your expectations.
Managing Director of Parallex Bank, Mr. Femi Bakre said the Lekki branch may not have gotten to the breakeven level, but is profitable today on a monthly basis.
“We have private banking institution that is tailored made for the Lekki environment. Parallex Bank is taking banking to another level. We are in this environment for a purpose, and that purpose is very strategic.
“Parallex Bank was the first Microfinance Bank that migrated to be a commercial bank. As of today, we remain the only Microfinance bank that achieved that particular feat because the feat is quite audacious,” he said.
Mr. Bakre further noted that Diaspora banking in Parallex Bank has been launched, and that bank has graduated to issuing master debit card to all the stakeholders.
According to him, Parallex Bank has invested so much in technology, adding that there are branches across Nigeria.
He said, “We have strategic initiatives that we are driving, we are committed to convenience, reliability and enabling environment for businesses to thrive. Majority of our drive in business will be practically on digital.
“We want to be the preferred financial service provider in this country, redefining customers experience through innovation. During the cashless policy era, the bank was adjudged as one of the best that make life seamless for Nigerians.
“We leverage on the best talents and technology to deliver value to our stakeholders.
“The bank commenced operations January last year and today by the grace of God, Parallex Bank is profitable. The next level we are pushing is to ensure that we have a sustainable profitability pattern,” he stated.
He said, corporate governance in Parallex Bank is second to none