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Skye Bank opens subsidiary in Guinea

By Michael Eboh

Skye Bank Plc has further expanded its operations across the continent of Africa, as it announced the opening of a branch in Republic of Guinea.

According to a statement by the bank, the opening was after it secured the approval of the apex bank in Guinea.
The statement noted that Skye Bank (Guinea) Limited, has since begun operations as Skye Bank’s third foreign subsidiary after the opening of Skye Bank (Sierra Leone) Limited and Skye Bank Gambia Limited.

The statement quoted Skye Bank’s Group Managing Director/Chief Executive Officer, Mr. Akinsola Akinfemiwa, as saying that the opening of the Guinea subsidiary represents another milestone in the bank’s quest at growing its business and expanding the reach of its ethical, professional and customer_driven financial services.

The statement further quoted the Skye Bank boss as saying  that further expansion activities would take place in the future in line with the objective of establishing  the bank as a dominant player in the West African sub_region.

The statement reads, “The bank opened its first foreign subsidiary in Sierra Leone, commencing operations on October 1, 2008.

“The Gambian subsidiary followed in July 2009. The bank also plans to open foreign subsidiaries in other countries like Ghana in consonance with its focus of diversifying its business locations profitably with a view to creating value for its stakeholders.

“The planned expansion into the West coast is aimed at taking advantage of the business opportunities in the markets that are emerging as vibrant, viable and thriving.


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