By Peter Egwuatu
Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Kehinde Durosinmi-Etti, has pledged management’s continued support towards the funding of the key sectors of the economy as a way of promoting the growth of the economy and increasing national output.
Durosinmi-Etti who restated the pledge at the bank’s “Corporate Partners’ Forum” held in Lagos last weekend, said the bank would continue to support the real sector comprising manufacturing, agriculture, oil and gas, telecommunications and aviation and maritime, among others.
The bank boss explained that the bank’s support for industry rather than for speculative activities was borne out of the desire to fast-track the nation’s march to the league of economically powerful nations as well as the need to diversify the country’s revenue base.
He said the recent successful capital raising exercise of the bank which fetched N15 billion had further strengthened the bank and enhanced its ability to discharge its responsibility to the economy and other users of capital, adding that the bank would support and fund more national priority projects.
Durosinmi-Etti described the bank as solid, liquid and more sure-footed than ever before, saying it has also received cheap, long term funding from some off shore institutions for the use of customers. He promised to grow the bank into a bigger and better institution.
He thanked the customers for their loyalty and promised to continue to give priority attention to them as partners in progress.
The Guest Speaker at the forum who is also the Director General of the Debt Management Office, Dr. Abraham Nwankwo, described Skye Bank as one the strong and respectable banks in the country with a long history of support to the real sector.
Nwankwo noted that bank customers played a crucial role in the economic development of any country through their economic activities which result in creation of employment. opportunities, revenue generation for the government, among others.
He urged corporate bodies to explore the bond market as a way of raising cheap, long term funding for their numerous activities and developing their businesses as done in the developed countries of the world.