Polaris Bank Limited Managing Director/CEO, Mr. Tokunbo Abiru, announced his retirement from the bank’s service, effective August 31, 2020, after effectively completing his two-year term at the helm of the bank.
In a farewell message to the bank’s staff, Abiru explained that after having worked in the banking sector for almost 3 decades, he had decided to retire to allow him to pay his percentage in other areas of the company.
Going back in time, he recalled the Bank’s poor state before taking up his duties in 2016 as managing director of the former Skye Bank Group.
He praised staff for running with him to change course and create an establishment that has a compelling case to examine in the change of business within Nigeria’s monetary services industry.
In his words: “We have reversed almost all regulatory ratios for smart and lately we are among those in the industry. There can be no greater evidence of the Bank’s advanced state than the 2019 effects in which the Bank posted a profit of 27 billion nars.
“For the fact that this is sustainable, the bank’s first half of 2020 result showed a PAT of more than 18 billion nairas, despite massive headwinds caused by the COVID-19 pandemic.
“We also began the renovation of the Bank’s IT infrastructure, which is largely obsolete and in ruins due to years of underinversion.
“Following the successful finishing touch of the first phase of the IT Upgrade program, which aimed to upgrade virtual infrastructure and platforms, and move the Bank’s knowledge centers to Tier III knowledge locations in accordance with CBN and the Online Regulations Through Global Practices, Bank consumers are now benefiting from particularly advanced service delivery.
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