After Opening New Branch, LOTUS Bank Clinches 2 Awards for Innovation, Ethical Practice
- LOTUS Bank has shone at the Global Retail Banking Innovation Awards 2024 held in Singapore
- The bank also received another award for its ethical practices and dedication to transparency and integrity in financial operations
- LOTUS Bank is one of the Central Bank of Nigeria's licenced non-interest banks, which allows current accounts to operate without paying interest
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
LOTUS Bank has clinched two international and local awards within days.
The bank first received the Best Financial Inclusion Initiative and Debit Card of the Year awards at the 2024 Global Retail Banking Innovation Awards in Singapore.
Source: Getty Images
Additionally, the bank was honoured with the Ethical Banking Leadership Award of the Year at the recent Banks and Other Financial Institutions (BAFI) Awards organised by BusinessDay.
ThisDay reports that the award was for LOTUS Bank’s commitment to innovation in financial services and its dedication to ethical banking practices.
Kafilat Araoye, managing director of LOTUS Bank, expressed her excitement about the bank's accomplishments.
She said:
“We are honoured to receive these awards, which validate our efforts to make banking accessible for everyone. Our team’s dedication to developing products that cater to the needs of diverse communities drives our mission forward.
Leadership reported that Araoye stressed the importance of the Ethical Leadership Award received at BusinessDay’s BAFI Awards, saying:
“It underscores our commitment to transparency and integrity in all our operations. We believe that ethical banking is essential for sustainable growth, and we will continue to lead by example in the industry.”
"The flagship debit card program, known for its user-friendly features, has empowered clients with greater control over their finances.
"Notably, this debit card was utilized for onboarding athletes from across Africa at the recent Federation of African Students' Games (FASU) and the Nigeria Medical Students Association Games (NIMSA), both of which LOTUS Bank sponsored."
LOTUS opens a new branch
Earlier, Legit.ng reported that LOTUS bank recently opened a new branch in Lagos.
The bank was quoted as saying that its new location would offer enhanced banking services tailored to the needs of both individuals and businesses.
LOTUS bank, one of the non-interest banks in Nigeria, now has 56 footprints all over Nigeria.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
