Heritage Bank Deflates Distress Claims, Says it is ‘Sound and Resilient’

Following series of claims in the media that Heritage Bank Limited is in distress, the management of the bank has issued a rebuttal that it is ‘sound and resilient’

The statement was published on its official website as follows:

“The attention of Heritage Bank Plc has been drawn to deceptive reports contained in a media publication, alleging the Bank’s inability to honour its obligations to customers amongst other contrived reports on the financial state of the bank”.

“Heritage Bank wishes to categorically refute this false information being circulated about the institution with a misdirected intent to derail and misinform the banking public on its financial state”.

“Whilst we acknowledge the challenging operating environment currently experienced in all sectors of the economy, Heritage Bank remains financially stable and has continued to discharge its obligations to all customers and stakeholders. This position is buttressed by the commendable results posted by the Bank in the past financial year and the last three quarters of 2016, resulting in shareholder approvals to list its shares on the Nigerian Stock Exchange within one year of its business combination with the erstwhile Enterprise Bank Limited”.

“The Bank wishes to assure all customers and stakeholders of the safety of their deposits and financial transactions in line with our commitment to a strong service culture and sound corporate governance practice”.

Heritage Bank was formerly known as a Societe Generale Bank. The acquired Enterprise Bank Limited, formerly known as Spring Bank from the Asset Management Company of Nigeria, AMCON in 2015 to begin a national banking operations.

The CBN has also defended the bank is a similar press release signed on behalf of the apex bank by Isaac Okoroafor. The CBN said Heritage Bank is not in distress and that customers should not panic.