Heritage Bank repositions for improved efficiency

Heritage Bank Plc has announced the restructuring of its workforce, as
part of efforts geared towards greater efficiency and resource optimization, in
line with its growth and industry innovative agenda
designed to strengthen the bank’s business across
all markets where it operates.
According to a statement
from the bank, the restructuring processes
was to up scale the institution’s activities in the
strategic sectors of the economy as well as concentrating on and deploying its
expertise and competences to specific business areas where it enjoys
comparative business advantage.
It hinted that the
recent restructuring came after a review of senior staff bench strength and
industry standards and realigned certain roles bank wide and those who were
affected by the exercise were adequately compensated.
The bank also disclosed the elevation of
some members of its workforce with higher responsibilities, which is in line
with its on-going determination to reposition.
There is no doubt that the banking industry like every
other sector in the country is going through rough times occasioned by the
downward trend in the economy, hence
the move was part of the bank’s strategic plan to keep a vibrant
workforce that will enable the bank achieve its vision of being the Nigerian
most innovative banking of choice in service delivery, superior returns to its
various stakeholders and as well contribute to the growth of the nation’s
This position is
buttressed by the fact that the bank is well known for supporting small
businesses, which is another way of bringing as many small businesses as
possible together in a bid to add value to MSME sector of the economy.
Heritage Bank has deliberately focused on the
SME segment in a bid to create a fresh set of vibrant entrepreneurs that
will create jobs and distribute wealth in the Nigerian economy because of
recent statistics which indicate high unemployment among the youths that make
up a large percentage of the population.
One of its initiatives in the MSME sector is
its partnership with the Central Bank of Nigeria (CBN) and the National Youth
Service Corps (NYSC) under the N3billion CBN Youth Innovative Entrepreneurship
Development Programme (YIEDP) which is targeted at youth, particularly current
serving National Youth Corps members and those within five years post-service
The bank launched a N500 million Young Entrepreneurs
and Students (YES) Grant in Lagos. The initiative, which is in partnership with
the Nigerian Youth Professional Forum (NYPF), will, according to the bank,
support students and young entrepreneurs toward socio-economic freedom.
Also, in
furtherance of its commitment to creating jobs and wealth, Heritage Bank in
partnership with the Center for Value Leadership (CVL)
various impact-driven programmes to empower the youths and women particularly
in the under-developed communities in Lagos State and one of these is the Young
Entrepreneurship Business Training Programme (YEBTP).
The YEBTP is a programme aimed at
grooming, mentoring, and financing 100 aspiring and existing young micro
entrepreneurs in Ajegunle, Lagos State. This will be achieved in the form of a
grant scheme of about N8.5million, in which the funds will be used to purchase
the equipment needed by the entrepreneurs to start their businesses.


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