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Skye Bank completes integration of Mainstreet Bank

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Skye bank and failure of leadership

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Skye Bank Plc on Tuesday said it has successfully concluded the integration of Mainstreet Bank Limited, which it acquired late last year in a N120 billion deal.

Group Managing Director, Skye Bank Plc, Mr. Timothy Oguntayo, who issued a statement to mark the conclusion, noted that the two banks achieved seamless harmonisation and integration of their processes, procedures, structures, operations, human capital and all the other scheduled tasks. Skye Bank formally took over Mainstreet Bank six months ago.

He said the enlarged bank was set to unleash the full potentials of the combined strengths of the two institutions for better customer service, customer experience and value creation for all its stakeholders.

“We are committed to pushing the frontiers of technology and innovation to enhance stakeholder value at optimized cost, and offer delightful customer experience. We will therefore continue to make the required investments in people, process and technology to meet this commitment,” Oguntayo said.

He pointed out that the enlarged Skye Bank’s total branch network stood at 469 while its Automated Teller Machine (ATM) network has increased to 815 across the country, with an asset base of N1.5 trillion.

According to him, the implications of these for the customers include better access to the bank’s service channels, cutting edge technology, and stronger balance sheet to support their businesses.

He noted that in line with the bank’s growth strategy, and preparatory to the acquisition, it had made enormous investments in both its human capital and information technology, two critical assets that define organisational success, pointing out that Skye Bank’s new banking software, Oracle Flexcube 12.0, with its multi – functional capabilities, is one of the best and most recent inventions.

Read Also: Experts worried over Skye Bank’s acquisition of Mainstreet

“We made these strategic investments to ensure continuous excellent service experience for you”, Oguntayo said in direct appeal to customers.

On steps being taken to improve service experience, he said a rebranding and remodeling of the newly integrated branches into the Skye Bank family had commenced, in addition to starting the upgrade of the facilities in the branches to make customer banking experience a delight.

“Without doubt, the consolidated Bank heralds a new dawn in our long term vision of playing a leadership role in Nigeria’s financial services industry,” Oguntayo added.

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  1. Don Lucassi

    July 1, 2015 at 10:44 am

    Lets see how time plays out, to know if it was a profitable venture

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