Third Non-Interest Bank (NIB) in Nigeria, LOTUS Bank Limited has commenced operations in three new locations in Lagos State.
Managing Director of LOTUS Bank, Mrs Kafilat Araoye, in a statement on Friday explained that with the simultaneous opening of three new locations in Lagos, the bank now boasts of physical presence in four locations.
The new locations are located at Idumagbo, Allen Avenue, Ikeja and Oshodi Transport Interchange.
According to Mrs Kafilat Araoye, to ensure customers experience banking with ease, LOTUS Bank launches with digital offerings, for opening accounts online on its website and transact via USSD banking.
She added that the bank also offers the issuance of free debit cards to account holders and zero account maintenance charges.
Mrs Kafilat Araoye said: “With evolving digital solutions and a millennial generation coming into center-stage, LOTUS Bank is bringing onboard innovative and comprehensive non-interest compliant financial solutions in investment banking, consumer banking, asset management, private banking, and wealth management.
“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.
“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,” Araoye noted.
According to the Founder and Chairperson, Mrs Hajara Adeola, who is also the Founder and Managing Director of Lotus Capital, the bank is starting its operations on a solid foundation of experienced leadership and a strong Advisory Council of Experts (ACE).
LOTUS Bank obtained its regional licence from the Central Bank of Nigeria in May 2021 as a commercial bank and commenced operations on July 7, 2021.
