SMEs, bank’s opportunity to grow deposits, profitability, says Phillip Isakpa
November 27, 20191.1K views0 comments
By Oluwaseun Afolabi
Banks stand to increase profitability and grow their deposits with a thorough engagement of small medium scale enterprises (SMEs) in Nigeria.
Business media publisher, Phillip Isakpa, who is also executive editor, business a.m Newspaper, stated this in his address at the business a.m SME conference 2019, themed “The future of SME banking in Nigeria.”
Isakpa, who raised concerns about the unsavoury relationship between SMEs and banks, said, “for far too long, the discuss around SME has been centred around the problem they face, most especially financing.
“We are concerned about the stories about the unsavoury relationships between SMEs and banks, which over the years have left many with burnt fingers. Small businesses are banks opportunity to grow deposit, improve spread and increase profitability.”
Read Also:
- Enough pain for bank stocks?
- NDIC raises bank depositors insurance coverage to N5m, MFBs N2m
- Access Bank backs innovative financing models for SDGs
- Zenith Bank eyes fintech, diversification as shareholders approve HoldCo plans
- President Tinubu taps Ovia, Zenith Bank founder, to chair Education Loan Fund