Parallex Bank Limited
Parallex Bank Limited is the latest to launch as a commercial banking industry in Nigeria, the new commercial Bank – Parallex bank, officially launched operations on Friday, January 14, 2022 with the promise of good and unique services to their customers.
Parallex Bank Limited was incorporated as a limited liability company on the 22nd day of May 2020, having successfully converted from Parallex Microfinance Bank (a National Microfinance Bank incorporated in 2008 as a Unit MFB) to a commercial bank duly licensed by the Central Bank of Nigeria to carry out commercial banking services. This is a first-of-its-kind achievement in the Nigerian banking space.
In an elaborate ceremony at its headquarters on Adeola Hopewell, Victoria Island, Lagos, Parallex bank unveiled the logo of the bank and officially launched its brand in the presence of stakeholders and dignitaries from different walks of life.
In her opening address, the chairman of Parallex bank, Dr. Adeola Phillips said the bank emergence will make a unique statement and redefine what a bank should look like.
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Dr. Phillips said: “What we are celebrating today is very dear to our hearts and the nation as a whole because we are about to witness a landmark transformation in the banking sector.
“The bank that started as a Microfinance bank is now a full bank and it is only through innovation, commitment, and sacrifices that we are making this achievement.
“Our bank is introducing customers stress-free services and programs that will always make us a step ahead of others and this will further allow us to meet the needs of our customers digitally.
Parallex bank managing director, Mr. Olufemi Bakre said: “We are not going to do banking, as usual, we are going the extra mile for our customers.”
“From any angle within our mobile app, you can make five transactions in a day and 150 in a month without transaction charges.
“Parallex Bank will pay up to five percent on current account balances not lower than N100,000. It is not about taking advantage of a client under the canopy of making money. It is a mutually beneficial relationship.
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“Account maintenance charges are common in the industry. We are saying at Parallex Bank from day one, you won’t encounter any.
“It shall never be in our dictionary to say it cannot be done. Our watchword is how can it be done?”
