Parallex Bank recognized as Reputable Bank of the Year

Parallex Bank Limited, a Nigerian financial services provider regulated by the Central Bank of Nigeria, has been recognized by the Global Reputation Forum as the Reputable Bank of the Year for its outstanding performance in Corporate Governance.

The bank holds the distinction of being the first and currently the only financial institution to transition from a Unit Microfinance Bank to a Commercial Bank within Africa’s largest economy, Nigeria.

The Managing Director of Parallex Bank, Dr. Olufemi Bakre, expressed his delight at the recognition and acknowledged that the recognition is a testament to the bank’s commitment to connecting with Nigerians and delivering top value.

He highlighted Parallex Bank’s successful transition from a microfinance bank to a full-fledged regional bank in Nigeria, along with its platform that is adaptable with competitive and attractive commissions for agents working on technology and terminals, enabled the company to roll out various unique services in the market.

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The recognition, he said, highlights Parallex Bank’s dedication to innovation and customer satisfaction, saying, the bank’s management and employees should be proud of their accomplishments and continue to strive for excellence in the future.

The Global Reputation Forum (GRF) Conference provides a platform for fintech startups and established banking institutions to showcase their latest innovations and will also bring together experts from both the financial and technology sectors.

From digital payments and lending to robo-advisors and blockchain-based solutions, participating institutions and personalities get to witness firsthand how technology is transforming traditional banking services.

GRF Chief Executive, Dr. Rex Idaminabo FRSA, explained that the Reputable Banks and Fintech Awards/Conference is designed to acknowledge rapid expansion, integration, accelerated growth and reforms of Africa’s banking and financial sector.