Premium Trust Bank opens its first operations doors in PH, as CEO says ‘speed of execution’ will speak for them


By Ignatius Chukwu

The financial industry world gathered on Tuesday after Ester holidays to witness the doors of a new bank being flung open.

It was by Nigeria’s latest licensed bank, Premium Trust Bank, which opened to customers in Port Harcourt as the Managing Director, Mr Emmanuel Emefienim, says speed of execution of activities and programmes  would speak for the new entrant.

Port Harcourt took the pride of being the city where the operations would begin and spread to 21 others before end of the year.

The bank thus unveiled its branch expansion programme that would hit 22 by end of 2022.

The opening of its first operating point took place in Port Harcourt, at the Trans-Amadi area of the Garden City where industry executives, Central Bank of Nigeria (CBN) officials and state government leaders showed huge presence. Rivers State Commissioner of Commerce and Industry, Mr Ifeyinwa Nwankpa, represented Gov Nyesom Wike.

Giving insight to newsmen after the opening, the CEO who left Sterling Bank to pilot Premium Trust explained that banks operate within the same rules and within limits allowed by the regulators, but noted that it is the strategic method or style of delivering on products that sets a bank apart. “The speed of execution is something that will speak for us in the industry.

“We are going to be deliberate about it. We know the people, we know the market, we understand the environment, and we understand the market. So, when you have a strong knowledge of the people and the market, taking decisions on transactions comes easy. This is because you are clear about what you want to do.”

The CEO who is known to have huge knowledge of the industry with many years in the south-south region said what the team would drive in Premium Trust Bank is speed of execution and speed of service delivery, saying the new bank would leverage technology to bring that to pass.

Secondly, he stated, his team would co-create solutions with their customers, saying the customers will be part of the process. “This is in the sense that we understand what they want, we sit with them to proffer solutions to those problems, and we come up with products that are tailor-made to solving the problems. So, by the time we deploy such products, there is some level of alignment. This for us, is a journey that ensures we grow together with our customers, impact lives and build communities consistent with our tagline – Together for Growth.”

On expansion, he said the bank is unique and that its expansion plan had been endorsed by the regulator. While the bank has only just launched its first branch, he stated, it will open five additional branches within the next 60 days; and then wrap up with a total of 22 branches across the country by end of 2022.

Emefienim also noted that the bank would be bullish on the use of technology and other digital solutions to reach the unbanked and deepen financial inclusion among the populace.

He said within the few years, Premium Trust Bank would become a household name in Nigeria. “We are not saying that just for the fun of it, we are riding on the back of the knowledge of the market, the experience we have, the products we are deploying, and the co-creation strategy or direction of delivering solutions to customers’ requests.”

Mr Emmanuel Emefienim, MD of Premium Trust Bank

He also hinted that the bank desired to go international in a matter of few years. He harped much on the determination of Premium Trust Bank to work hard on strategies that would make it imperative to grow along with its customers.

Dignitaries across the industry and society graced the occasion in Port Harcourt. They include Gov Nyesom Wike of Rivers State who was represented by the Commissioner for Commerce and Industry, Mrs Ifeyinwa Nwankpa; captains of industry across sectors, the Presiding Pastor of Salvation Ministries, Pastor David Ibiyeomie, and his wife, Peace Ibiyeomie; the Assistant General Overseer of the Redeemed Christian Church of God, Pastor J.F. Odesola, amongst others.