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Standard Chartered has opened the first of 10 new city branches at Lagos’ Circle Mall along Lekki/Epe Expressway. The branches compliment the Bank’s ongoing investment into digital infrastructure, while aligning with its focus on rapidly expanding cities across its global footprint in Africa, Asia and the Middle East.
Through its recently launched ‘Here for Africa’ campaign, Standard Chartered has reiterated its commitment to the continent and will continue to invest in its regional strategy, with Nigeria as a key focus for expansion. One of the 8 fastest-growing cities in Africa, Lagos generates 25 percent of Nigeria’s total gross domestic product
Karen Fawcett, CEO of Retail Banking, opened the new branch with Regional CEO for Nigeria, Cameroon and Cote d’Ivoire Bola Adesola and the Bank’s Head of Retail Banking for Nigeria, Ebehijie Momoh. Circle Mall Branch is one of the Bank’s compact ‘smart branches’ and will feature iPads with free wifi that clients can use to access or learn more about digital channels.
CEO for Nigeria, Bola Adesola, commented, “Our Retail Banking business in Nigeria has been growing from strength to strength, with income increasing 12 percent year-on-year in 2015. Thanks to the support from Government and the Nigerian people, we will continue to invest in our capabilities to deliver increasingly efficient, cost effective and accessible banking for all our clients. With 10 more branches, we aim to extend the reach and accessibility of banking, while freeing up our clients’ time to focus on their personal priorities.”
The World Economic Forum cites Lagos as the fastest-growing city in the world, expanding at a rate of 85 people per hour. By 2050, Lagos’ population is expected to double, which will make it the third largest city in the world.
Karen Fawcett, Group Head of Retail Banking added, “We’re very excited about the opportunities in Nigeria and the Africa region. So we’re investing here to bring the best in banking through digital channels, as well as giving clients the choice of coming to a branch when they want advice and a more personal touch.”
Standard Chartered has recently launched new mobile and online banking platforms in eight markets across Africa, including Nigeria, bringing cutting-edge digital channels to 1 million clients in the region. It is now rolling out biometric authentication in Nigeria and 7 more African markets this year, giving clients access to mobile banking services on smartphones and iPads with the touch of a finger. Nigeria also has the Bank’s Retail Workbench, a digital sales-and-service tool that makes banking services like loan approvals fast, simple and paperless.
Ebehijie Momoh, head of retail banking for Nigeria, commented, “We are aligning with our global retail strategy to streamline our business operations, and build scale in Lagos – one of our African cities identified for growth, and already benefiting from the Bank’s global platforms, digital innovations and market leading online and mobile channels.”
HOPE MOSES-ASHIKE
