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Heritage, Enterprise Banks to finalise business integration

By on March 17, 2015

Heritage Bank Limited has announced the commencement of the final round of activities towards the integration of its operations with Enterprise Bank Limited into a single entity.

The latest round of activities, according to a statement from the bank, came on the heel of the completion of all preliminary internal checks and audit of processes at Enterprise Bank which began shortly after the Board Divestment Closure ceremony organised by the Asset Management Corporation of Nigeria (AMCON) last month.

To this end, the management of Heritage Banking Company Limited had appointed the bank’s Executive Director, Retail Banking, Mrs. Mary Akpobome, as the Acting Managing Director for Enterprise Bank during the transition period.

Akpobome is saddled with the responsibility of managing the internal transition processes within Enterprise Bank as well as ensuring seamless integration of the bank into the Heritage Bank operating system and culture in a way that protects all stakeholder interests. The exercise which spans people, process, systems and value integration is estimated to a last a couple of months.

The Managing Director, Heritage Bank, Mr. Ifie Sekibo, had observed that the acquisition gave Heritage Bank added impetus to roll out a more robust plan that would affirm its commitment to the promise of creating and preserving wealth across generations through highly personalised banking service.

“We promise to make the bank more successful. We will create more value and improve on what has been done at Enterprise Bank. One year from now, all stakeholders will see reasons to appreciate the sale of Enterprise Bank to Heritage Bank,” Sekibo had said.

The addition of Enterprise Bank’s over 160 branches, over 177 ATMs, 57 Cash Centres and 2000 POS Terminals spread across major markets and commercial centres in the country  is expected to increase its points of presence from the current 15 branches to nearly 200 branches spread all over the country.

 

[ThisDay]