Heritage Bank remains sound and resilient – Mgt

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

The Bank described the report as false information which is intended to derail and misinform the banking public on its financial state.

According to a statement made available to NEWSVERGE reads, “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 theirdeposits and financial transactions in line with our commitment to a strong service culture and sound corporate governance practice.”

In the same vein, Isaac Okorafor, Acting Director, Corporate Communications of Central Bank of Nigeria (CBN) in a circular released affirmed that Heritage Bank is not in distress, urging its depositors to go about their transactions without fear.

Okorafor, also said, “For the avoidance of doubt, we wish to further state that no Nigerian Bank is in distress.

“The CBN, as the industry regulator, has a duty to depositors, in particular, and the economy, in general, to ensure the soundness of all financial institutions.

“We therefore, wish to assure all depositors of the safety of their deposits.

“The CBN also wishes to state that it will remain alive to its responsibility of ensuring banking system stability and soundness through constant monitoring and supervision of all licensed institutions.

“The Central Bank of Nigeria wishes to reiterate that the banking system remains resilient enough to weather the current economic storm.”