Welcome to the future of banking!

Coming from five different backgrounds of the Legacy Prudent Bank, EIB International Bank, Bond Bank, Reliance Bank and Cooperative Bank, we have been able to successfully harness the areas of strength we were reputed for with a camaraderie marked by professionalism. Today, your bank has a new and enviable brand.

We set several targets for ourselves in view of the challenges that presented themselves and the result is a bigger, stronger, more globally aligned institution known as Skye Bank which is fast becoming a strong force to be reckoned with in the industry.

At the end of consolidation, Skye Bank had a total of 161 branches. However, in line with our retail strategy, we embarked on aggressive branch development in various strategic locations in all the geo-political zones of the country. Our focus was the un-banked and under-banked locations. In line with this strategy, 20 new branches commenced operations during the year. 4 of these are located in Lagos, 5 in the South West, 2 in the South East, 8 in the North and the remaining 1 in Benin, Edo State. Other upcoming branches are at various stages of completion.

During the period under review, the Bank continued to push business frontiers, whilst laying a solid platform for future growth. It consolidated and expanded its leadership position in areas such as real estate development financing and electronic banking product offerings. Our Corporate Banking department has also emerged a force to be reckoned with within the short period of the Bank’s life, as it has participated significantly in most of the major strategic and big ticket transactions in the industry. We have also secured major lines with multilateral and other foreign lending institutions. These will no doubt establish us as a major industry player. Furthermore, Investment Banking department continued to secure major mandates in capital market operations, while undertaking major investment banking projects. The giant strides recorded in the Investment Banking department has in fact necessitated that this area of the business be allowed to assume a life of its own. Thus, a wholly owed subsidiary called Skye Financial Services Ltd has been incorporated to take over and run with the investment banking business of the Bank.

As part of our growth strategy, and in line with our universal banking license, we have acquired substantial interests in companies that will complement our business. Such companies include Law Union and Rock Insurance Co where we have increased our stakes to 51%, and Equity Life Insurance Co. We are also pursuing business opportunities in the West African and Sub-Saharan African region that we believe will further position us strategically in the market leader.

With our new enthusiasm, a customer centric culture that aligns with our recently adopted "Say Yes!" philosophy has resulted in an improved brand awareness which is being leveraged upon to increase volume in all aspects of our business. We have continued to push our brand by delivering on our promises. This, we will take to even greater levels in the years to come.

Thank you.