Heritage Bank Plc, is one of the fastest-growing financial service providers in Nigeria, licensed by the Central Bank of Nigeria (CBN). It has been in existence in the past 7 years, though at first, it existed as Societe Generale Bank of Nigeria (SGBN). SGBN was founded by late Dr. Olusola Saraki, former Governor of Kwara State in the 1970s.
The success story of a bank that was dead for 10 years before it was resurrected by Mr. Ifie Sekibo and his team began like a mystery. In 2006, SGBN was closed by the Central Bank of Nigeria due to failure to meet the new minimum capital requirements for a National Bank. Then, in 2009, the closure was challenged and in 2012, re-licensed with a regional authorization.
SBGN got a new ownership, re-branded and began to operate as Heritage Banking Company Limited. In 2014, it acquired Enterprise Bank Ltd. Having met requirements of the Asset Management Corporation of Nigeria (AMCON) and Central Bank of Nigeria (CBN), full ownership was transferred in 2015
Summarily, Heritage Bank was established March 4, 2012 after IEI Investments Ltd acquired Societe Generale Bank of Nigeria’s license from the Central Bank of Nigeria, CBN. Heritage Bank Plc was born and began its operations in Nigeria as a regional bank on March 14, 2013 with an excellent service culture hinged on promoting investment and partnering with customers to create wealth.
Heritage Bank is a lender bank which has continued to provide seamless banking experience, accurate and relevant information to its customers across Nigeria.
The leading Nigerian Bank, has delivered banking experience beyond the traditional to our customers, by consistently providing outstanding service and future-proof financial solutions. The bank has been dedicated to providing financial products that give our customers total round-the-clock control of their money as we navigate them through the process of wealth creation.
Heritage Bank Plc (The bank)’s long Standing practice has held itself to the highest standards of integrity in the conduct of its business. The Bank has also ensured that its behaviour and manner in which it selects its corporate sponsors, clients, co-financiers and counter-parties meet those standards.
Key among its unequal services is the introduction of a zero Cost of Transaction to its customers in April 2013. This implies that there would be no hidden charges on customers’ transactions, even as it continued its quest for 100% customer satisfaction.
According to reports, Heritage Bank also set a standard when it launched its pilot ‘Corner Shop’ to cater to traders at the Gbagada Plank Market in Gbagada Estate, Lagos to ease banking. The ‘Corner Shop’ was widely received and appreciated by the Gbagada traders as it saved them the time and money to visit a bank branch kilometers away.
Heritage Bank has proven to be a key player in banking and financial intermediation, the bank shall seek to promote high ethical standards, integrity, and good business practices.
The Bank’s general principles and rules on ethical behaviour and integrity are contained in the Codes of Conduct adopted by the staff of the Bank. It also ensures strict adherence to its principles and rules and observance of all specific requirements relating to personal and professional behaviour are duties of each individual to whom the said policy applies.
The financial institution which entered the financial market, after big names in the sector, has defied all banking tenets and has been able to offer unique services such as personal loans, salary advance, auto loan, agric business loans and CBN Health sector loans. These services has made its customer base terrific.
Due to its unparalleled services, Heritage bank beat top contenders to win the bid for the acquisition of Enterprise Bank, which also saw it inherit over 160 branches, over 177 ATMs, and 2000 POS terminals spread across major markets and commercial centres in the country. This move automatically transformed Heritage Bank from a regional bank to a national bank.
The Bank is led by a crop of experienced juggernauts in the management team. These people have largely focused on innovation and a unique philosophy to create, preserve and transfer wealth to its customers.
The Managing Director and Chief Executive Officer of Heritage Bank, Ifie Sekibo has contributed a lot to the development and credible testimonies of the Bank. Under his leadership, HB has developed as one of the most innovative financial service providers in Nigeria. It also won several awards including Best SME Bank in Nigeria by Capital Finance International (CFI) 2018. Also, Agriculture Bank of the Year at Nigeria Agriculture Awards (NAA) 2018, and many other awards.
Apart from being a seasoned Nigerian Banker, Ifie Sekibo is an entrepreneur who has over two decades of professional work experience in the banking, insurance and energy sector. He also has a track record in organisational leadership and management, which has rubbed off on Heritage Bank, as a leading commercial bank in Nigeria.
An Alumnus of Harvard Business School, OPM Class (2006-2009), Sekibo became a fellow of the Institute of Chartered Accountants of Nigeria, in 2002. He is the former Executive Vice Chairman of International Energy Insurance (IEI). In 2003, together with his team, they acquired the Global Assurance Company Limited from the National Insurance Commission.
According to reports, he starred in a front-line insurance company in Nigeria. The company under his leadership also undertook successful capital raise, and listed on Nigerian Stock Exchange. After serving as the Executive Vice Chairman of IEI, Sekibo became the pioneer MD/CEO Of Heritage Banking Company Ltd.
With these impressive track records and many more, not mentioned here for the sake of space, Sekibo together with his team, has been the major brain behind the successes of Heritage Bank.
Despite finding itself in a fiercely competitive banking environment, Heritage Bank has remained guided by passion, resilience, innovation and brand architecture that exuded quality service, performance, and sheer excellence.
Summarily, Heritage bank Plc services include retail banking, corporate banking, online/internet banking, investment banking and asset management services. Its headquarter is in Lagos, Nigeria. It has 127 branches, 202 automated banking centres and 350 ATMs across Nigeria.
Olamide Adeniji is a member of the Editorial Board of TheScript Newspaper
