Parallex Bank Limited Turns From Microfinance To Commercial Bank

Stakeholders have been assured of a good and unique service as the Parallex Bank brand officially launched on Friday, January 14, 2021, in Lagos.

The new bank which has SEEDD as its mantra said its core vision is to redefine customer experiences in the banking industry through innovations.

In an elaborate ceremony at its headquarters on Adeola Hopewell, Victoria Island, Lagos, Parallex Bank unveiled the logo of the bank and officially launched its brand in the presence of stakeholders and dignitaries from different walks of life.

The new bank promises its customers of several packages that will give room for convenience as well as reliability.

In her opening address, the chairman of Parallex Bank, Dr. Adeola Phillips said the bank emergence will make a unique statement and redefine what a bank should look like.

Dr. Phillips said: “What we are celebrating today is very dear to our hearts and the nation as a whole because we are about to witness a landmark transformation in the banking sector.

“The bank that started as a Microfinance bank is now a full bank and it is only through innovation, commitment, and sacrifices that we are making this achievement.

“Our bank is introducing customers stress-free services and programs that will always make us a step ahead of others and this will further allow us to meet the needs of our customers digitally.

The bank is also made up of tested and trusted people of vision and integrity as board members.

“We are here as a leading force in the banking sector. We will deliver effortlessly in the space and we have no doubt that we will record giant strides in the first few years.
We are empowered to lead and to grow. We are sure that we will excel in this space.
This launch marks the beginning of a new journey and era and we are ready and positioned to do more because it’s a new dawn of endless possibilities,” she said.

The manager, Parallex Bank, Mr. Olufemi Bakare said the bank started as a micro-finance bank over a decade ago with 11 branches all over Nigeria.

He added that it’s one of the most profitable banks in Nigeria.

“The interesting journey started as far back as 2008, in the landscape of banking industry. Parallex bank is the first that transformed from a microfinance bank into a real bank in Nigeria, and we are not going to be doing ours the same way but we will do things differently.

“In terms of vision, we want to redefine customer’s experience through innovation and adding good values to the delights of our customers. We have five great principles in our bank and they include Professionalism, Innovation, Excellence, Customer-centric, and Collaboration and the bank is the makeup of agile staff as well as the board of directors that are professionals to the core who will bring all these to pass.

“We have put structures to all we are saying today. We are going to be providing our customers with convenience, we are providing a platform for reliability that will ensure that customers are comfortable and have no cause.

In Parallex bank, your money must work for you, we will give decent and good percentages. It is not about taking due advantage of the client but there is going to be mutual relationships between our clients and us.


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