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November 25, 2013updated 04 Apr 2017 1:00pm

Unity Bank plans to open 50 branches by 2014: Reports

Nigeria-based Unity Bank is, reportedly, planning to open 50 branches in the country by 2014 under its repositioning strategy to bolster its presence in the retail banking industry.

Nigeria-based Unity Bank is, reportedly, planning to open 50 branches in the country by 2014 under its repositioning strategy to bolster its presence in the retail banking industry.

The lender, which currently has 238 branches nationwide, also plans to deploy another 1,000 ATMs and 5,000 Point of Sales (PoS) terminals at the new outlets.

Speaking at a session in Lagos, Unity Bank corporate communications head Theodora Amaechi was quoted by media sources as saying that the move would enable the bank serve more Nigerians as well as support the growth of the economy.

"The bank is strategising to ensure that Unity Bank becomes the retail bank of choice in Nigeria. To this end the bank has developed new products that will suit their customers’ needs at a retail level and modified existing products to increase their competitiveness.

"The bank also plans use the agency banking model and its branches in rural areas to create cheaper and easier access to financial services as part of the CBN Financial Inclusion Drive. The bank has already concluded plans for application of the model and has selected the agents who will take the service closer to the people," Amaechi added.

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