In just three months, LOTUS Bank Limited, a non-interest bank with regional licence from the Central Bank of Nigeria (CBN) has opened four branch networks in Lagos State.
The bank has launched three new branches to complement the initial flagship office launched at inception of its physical services in Victoria Island on July 7, 2021.
The newest and third Non-Interest Bank (NIB) in the country, LOTUS Bank, with its strong digital orientation started operations as a commercial bank after obtaining its regional licence from the CBN in May this year.
LOTUS Bank’s new locations are at Idumagbo on Lagos Island as well as Allen Avenue, Ikeja and Oshodi Transport Interchange on Lagos Mainland. The Oshodi outlet is a purpose-built Digital Service Centre designed to offer customers an exciting banking experience.
Poised to have its customers experience banking with ease, LOTUS Bank launches with digital offerings, which enable customers to open accounts online on the its website and transact via USSD banking. This is in addition to the issuance of free debit cards to account holders and zero account maintenance charge.
The Bank’s Managing Director, Mrs. Kafilat Araoye, while speaking on the focus of the bank, disclosed: “With evolving digital solutions and a millennial generation coming into centre-stage, LOTUS Bank is bringing on board innovative and comprehensive non-interest compliant financial solutions in investment banking, consumer banking, asset management, private banking, and wealth management.”
She continued: “At LOTUS Bank, we believe in fairness to all parties in every business transaction. This is a requirement for building any strong economy. Everyone can thrive where fairness prevails. Non-Interest Banking stands for equity and ethics in business, as well as growth for the real sector.”
With a growth strategy focused on continuously evolving by providing endearing financial products, innovative solutions, and expanding coverage across regions, LOTUS Bank aims to be of service to its current and future customers, who are looking for an alternative banking model in Non-Interest Banking.
Mrs Araoye explained further: “Financial Inclusion is also a strong motive for setting up LOTUS Bank. The concept of financial inclusion targeting the unbanked and underbanked population cannot remain just a concept but must be seen as an actual necessity, for the nation’s economic growth.”
