Home Sectors BANKING & FINANCE Heritage Bank Celebrates 8 Years In Nigeria Banking Industry

Heritage Bank Celebrates 8 Years In Nigeria Banking Industry

Heritage Bank Celebrates 8 Years In Nigeria Banking Industry

Heritage Bank commemorated its eighth-year in the Nigerian banking business as one of the fastest-growing financial service providers.

The company’s growth was hinged on tenets such as hard work, passion, commitment, doggedness, and culture.

The year 2012 saw the unveiling of the financial service provider in Nigeria through the combined efforts of Heritage Banking Company Limited (HBCL) and Enterprise Bank Limited (EBL) after the acquisition of Societe Generale of Nigeria’s (SGBN) license by IEI Investment Ltd from the Central Bank of Nigeria (CBN).

The merger and subsequent acquisition helped unfreeze funds of account holders during the closure of SBGN, leading to the securing of 100 percent of SBGN’s former customers.

To secure its 100 percent stake in Enterprise Bank Ltd., Heritage Bank met the requirements of the Asset Management Corporation of Nigeria (AMCON) and the CBN in 2014, through a thorough bidding process.

Dedicated to the transfer of wealth to its customers and management bent towards creating innovation through technology, Heritage Bank positioned itself as a worthy competitor against already-established financial services providers, rooted by its passion, resilience, and innovation.

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Its various innovative move and significant contributions to the Nigerian economy attracted equal successes in the bank’s businesses.

Recorded Successes Of Heritage Bank

Through strategic partnerships with public and private organisations, the financial institution has continued to serve its goal of being one of the drivers of Nigeria’s economy.

It has also achieved this through schemes aimed at small businesses and Micro, Small, and Medium Enterprises (MSMEs).

Through this, it has supported the creation of jobs across sectors including agricultural, education, cottage industry, mining, and solid minerals, creative industry, and Information and Communications Technology (ICT).

In the face of the impact of the coronavirus pandemic, the bank has ensured its continued support for small businesses and startups.

One way the company contributed towards to growth of small and prospective companies was in its sponsorship of the last season of the reality TV show The Next Titan’s ‘The Unstoppable’.

Through this, business owners were armed with the funds needed to grow their businesses through innovative means despite the scourge of the pandemic.

Showing extensive support for small and medium businesses, Heritage Bank empowered business owners through schemes such as HB Innovation Lab Accelerator programme (HB-LAB), Ynspyre Account, Youth Innovative Entrepreneurship Development Programme (YIEDP), Centre for Values in Leadership (CVL) on Young Entrepreneurship Business Training Programme (YEBTP), Young Entrepreneurs and Students (YES) Grant and Nigerian Youth Professional Forum (NYPF), Big Brother Nigeria, Lagos Comic-Con, among others.

In 2020, the bank launched the Nationwide Dukia-Heritage Bank Gold & Precious Metals to help grow Nigeria’s potential reserves of 200 million ounces of gold.

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The programme will add 10 percent to Nigeria’s GDP from the mining sector by 2026.

Speaking on the programme’s capabilities, Vice President Yemi Osinbajo stated that the collaboration between Heritage Bank and ‘Dukia Gold SPV’ would aid Nigeria in the proper mining of its reserves and boost local refining, leading to an expansion of the country’s foreign reserves.

Expanding its support, the bank disbursed $40,000 in grant to the first installment of the HB Innovative Lab in support of the country’s ICT hub.

Heritage Bank was commended by the federal government for its role in supporting Nigeria’s tourism.

It supported the exhibition at the National Museum Benin at the Exhibition Gallery of National Museum Benin by the National Commission for Museums and Monuments (NCMM), in collaboration with the Edo State Government, and the Smithsonian Institute, United States of America.

At the state level, the bank collaborated with the Rivers State Government to organise the National Festival of Arts and Culture (NAFEST) to support the arts and culture industry.

Its most prominent partnership was its support of the Calabar Festival with the theme, ‘Africa’s Biggest Street Party’, with a view to make Cross River State the go-to tourist destination.

Support Of Agricultural Sector

With the provision of a N5 billion long-term facility through the Commercial Agriculture Credit Scheme (CACS) to Triton Aqua Africa Ltd (TAAL), the bank showed its readiness to support the country’s agricultural sector.

Through its funding, TAAL was able to create an aquaculture business, nursery/hatchery for the production of fingerlings and broodstock located in Ikeja, Lagos.

TAAL, in return, would help make fingerlings available to small scale farms.

Another recipient of the bank’s support was Globus Resources Limited, a subsidiary of Triton Group, to commence in the commencement of the second phase of the afforestation scheme in Oyo State.

Partnering with the Oyo State Government in a multi-billion naira project, Heritage Bank showed its unwavering support for the agricultural sector.

Through the Oyo State Agricultural Initiative (OYSAI), the collaboration between the state government and the financial institution was aimed at creating an extensive empowerment programme for both youths and women in Oyo State.

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