Latest news about skye bank

Skye Bank is a Nigerian bank that has been in the news for various reasons in recent times. Here are some of the latest news updates about Skye Bank:

  1. Rebranding to Polaris Bank: In July 2018, the Central Bank of Nigeria (CBN) took over the management of Skye Bank and rebranded it as Polaris Bank. The rebranding was done to save the bank from collapse due to its poor financial health.
  2. New Management Team: Polaris Bank has a new management team led by Mr. Innocent C. Izunwa, who was appointed as the Managing Director/Chief Executive Officer of the bank. The new team has been working to turn around the bank's fortunes.
  3. Restructuring and Cost-Cutting: Polaris Bank has been undergoing a restructuring process to reduce its costs and improve its financial performance. The bank has been closing some of its branches and reducing its workforce to cut costs.
  4. Digital Transformation: Polaris Bank has been investing in digital technology to improve its services and reduce costs. The bank has launched a mobile banking app and is working on other digital initiatives to improve customer experience.
  5. Partnership with Mastercard: In October 2020, Polaris Bank partnered with Mastercard to launch a new debit card that allows customers to make contactless payments. The partnership is part of the bank's efforts to promote digital payments in Nigeria.
  6. Awards and Recognition: Polaris Bank has received several awards and recognition for its efforts in promoting financial inclusion and digital banking in Nigeria. The bank was named the "Best Digital Bank in Nigeria" at the 2020 African Banker Awards.
  7. Expansion into New Markets: Polaris Bank has been expanding its operations into new markets in Nigeria. The bank has opened new branches in several states, including Lagos, Abuja, and Port Harcourt.
  8. Customer Service Improvement: Polaris Bank has been working to improve its customer service by introducing new channels and platforms for customers to interact with the bank. The bank has also been investing in staff training to improve customer service.

These are some of the latest news updates about Skye Bank, which is now known as Polaris Bank. The bank is working to recover from its past challenges and become a major player in the Nigerian banking industry.