Nigeria’s newest commercial bank is Premium Trust Bank. Customers may expect quick service from the bank, which is built on innovation and market knowledge. APRIL 19, 2022 — PORT HARCOURT: Premium Trust Bank has entered the list of Nigeria’s regulated commercial banks. On Tuesday, April 19th, 2022, the bank debuted and opened its first branch in Port Harcourt, Rivers State.
Premium Trust Bank is on a mission to improve lives, communities, and businesses by providing answers to customers’ unique financial difficulties through innovation and speed of execution. The bank claims it will achieve this through providing premium service, investing in premium human capital, and providing premium customer service.
Mr. Emmanuel Efe Emefienim, Managing Director and Chief Executive Officer of Premium Trust Bank, stated during the inaugural event that the bank’s addition is not to make up the numbers, but to stand out with its speed of service delivery. He also stated that the bank will co-create financial solutions with its customers in order to ensure alignment and frictionless acceptance at the product rollout stage. “I’ve said it before and I’ll say it again: strategizing in banking is nothing new. We are not here to reinvent the wheel because the banking industry, particularly in Nigeria, has many similarities.
We’re all in the same industry, and we’re all regulated by the same agency; you’ll notice that the industry functions inside a certain perimeter.” But then there’s a differentiating factor: we’ve discovered that, while all banks tend to provide the same level of service, when it comes to execution, there’s something distinctive or different. To put it another way, a bank may be in a position to provide a certain type of service, but delivering that service takes an inordinate amount of time. Then another bank joins the party, offering the same level of service but in a fraction of the time. The speed with which we execute will speak for us in the industry.
We’re going to take our time with it. We know the people, we know the market, we have the experience, we know the environment, and we know how to run a business. As a result, when you have a good understanding of the people, the market, and the business, quick execution is a breeze. This is due to the fact that you know exactly what you want to do. Also, to make all of these things happen, we’re going to use technology,” Emefienim explained.
“We are not going to come up with products and just dump them on customers; not at all,” Emefienim said of the bank’s product and financial solution development process. “We will sit with our customers, extract from them what their specific needs are, and then co-create solutions towards meeting those needs.” As a result, customers will be involved in the process. This means that we listen to what customers want, sit down with them to provide answers to their problems, and then create products that are specifically designed to solve those problems. As a result, there is some amount of alignment by the time we deploy such goods.
For us, this is a journey that guarantees we develop with our clients, make a difference in people’s lives, and build communities in keeping with our tagline, “Together for Growth.” While the bank has only recently opened its first branch, it plans to open five more within the next 60 days, bringing the total number of branches to 22 by the end of 2022. Emefienim also stated that the bank will be bullish on the use of technology and other digital solutions to reach out to the unbanked and increase financial inclusion. Governor Nyesom Wike of Rivers State, who was represented by the Honourable Commissioner for Commerce and Industry, Mrs Ifeyinwa Nwankpa; and captains of industry from various sectors. Pastor David Ibiyeomie, Presiding Pastor of Salvation Ministries, and his wife, Peace Ibiyeomie; Pastor J.F. Odesola, Assistant General Overseer of the Redeemed Christian Church of God, among others.
