Heritage Bank Set To Improve Performances
Heritage
Bank PLC has restructured its operations in a bid to enhance greater
efficiency and resource optimization in line with its growth and
industry innovative agenda designed to strengthen its business across
all markets where it operates.
According
to a statement from the bank, the restructuring process was to upscale
the institution’s activities in the strategic sectors of the economy as
well as deploying apt expertise and competences to specific business
areas where it enjoys comparative business advantage.
Specifically, the bank affirmed
that the reform was part of its strategic efforts to enhance customer
experience, drive a digital transformation and improve its productivity
and creating synergy.
It
hinted that the recent restructuring came after a review of its staff
composition, the Bank’s strategic direction vis-Ã -vis desired industry
standards and service deliverables.
Under
this restructuring, the bank has elevated some members of its workforce
with higher responsibilities in line with its strategic direction to
sustain enhanced performance while those were affected by the exercise
had been adequately compensated.
There
is no doubt that the banking industry like other sectors within the
Nigerian economy is going through a challenging and seemingly downward
trend, hence the move was part of the bank’s strategic plan to maintain
an efficient workforce that will enable the bank achieve its vision of
being the Nigerian most innovative banking of choice in service
delivery, superior returns to its various stakeholders all in
contributing to the growth and development of the nation’s economy.
This
position is buttressed by the fact that the bank is well known for
supporting small to medium sized businesses, which is amongst others is
geared to harnessing the collective strength of these businesses in a
bid to add value to MSME sector of the economy.
Heritage
Bank has continually focused on the SME segment in a bid to support
such businesses and entrepreneurs in a bid to create jobs and distribute
wealth across the Nigerian economy.
One
of its initiatives within the MSME sector is its partnership with the
Central Bank of Nigeria (CBN) and the National Youth Service Corps
(NYSC) under the N3billion CBN Youth Innovative Entrepreneurship
Development Programme (YIEDP) which is targeted at youth, particularly
current National Youth Corps members and Corp member post five years of
service.
The bank
has also launched a N500 million Young Entrepreneurs and Students (YES)
Grant in Lagos. The initiative, which is in partnership with the
Nigerian Youth Professional Forum (NYPF), will, according to the bank,
support students and young entrepreneurs toward socio-economic freedom.
Also, in
furtherance of its commitment to creating jobs and wealth, Heritage Bank
in partnership with the Center for Value Leadership (CVL) developed
various impact-driven programmes to empower the youths and women
particularly in the under-developed communities in Lagos State and one
of these is the Young Entrepreneurship Business Training Programme
(YEBTP).
The YEBTP
is a programme aimed at grooming, mentoring, and financing 100 aspiring
and existing young micro entrepreneurs in Ajegunle, Lagos State. This
will be achieved in the form of a grant scheme of about N8.5million, in
which the funds
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