Polaris Bank Not For Sale, Says Management

Posted on August 5, 2022

Polaris Bank has described as speculative and deliberately intended to create panic, the reports in a section of the online media concerning sales of the bank.

In a statement Friday titled: “RE: Online Publication on Purported Sale of Polaris Bank”, the bank enjoined the banking public to disregarded the reports.

The full statement reads: “Our attention has been drawn to an online report on the purported sale of Polaris Bank Limited.

“This publication is speculative, deliberately intended to create panic and should be disregarded by the banking public.

“Stakeholders may recall the regulatory intervention in the erstwhile Skye Bank by the CBN and the subsequent injection of capital via the Asset Management Corporation of Nigeria (AMCON) through a bridge bank process, which birthed Polaris Bank in 2018. The bank has since stabilized its operations following the intervention; improving its balance sheet, customer base and profitability.

“Whilst the intention has always been to return the bank to private ownership, such a sale would occur following regulatory approvals with formal notification to all relevant stakeholders. The Bank is committed to ensuring timely communication to the public in such an event.

“The Board and Management hereby reassure its customers, staff and the general public that Polaris Bank remains a stable, strong and credible financial institution, positioned to deliver sustainable value to all its stakeholders.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Former goalkeeper of Nigeria’s Super Eagles, Peter Rufai, is dead. Rufai, popularly known as... Continue
The Lagos State House of Assembly has announced plans to establish a modern correctional... Continue
PWAN Max, Nigeria’s foremost real estate network marketing company, recently provide an important update... Continue
BY O’TEGA OGRA For all the ambition that has long swirled around regional integration... Continue
In a landmark move set to redefine Nigeria’s telecom landscape, MTN Nigeria Communications Plc... Continue
BY BABAJIDE FADOJU  On July 1, 2025, the Lagos State Government began full enforcement... Continue
The Lagos State Government, through the Ministry of Commerce, Cooperatives, Trade and Investment, in... Continue
News coming out from the camp of Bayelsa Queens FC says the club has... Continue
RAYMOND TEDUNJAYE Efforts of the National Drug Law Enforcement Agency (NDLEA) at curbing illicit... Continue
On July 9, GTCO Holdings is set to commence trading on the London Stock... Continue

UBA


Access Bank

Twitter

Sponsored