By Peter Egwuatu

In its determination to reposition the bank, Unity Bank Plc has begun the process of forging a strategic alliance with Black Trituium, an equity and investment fund manager.

Vanguard gathered that the bank is in talks with Black Trituium to fine-tune the modalities of injecting funds into the bank through equity stake.

In this development, the Group is poised to make significant equity investment in Unity Bank Plc

This strategic alliance, Vanguard learned, will expand Unity Bank’s business scope, strengthen its capital base and support the bank’s retail strategy whilst meeting the investment objectives of Black Trituium, which is an equity and investment fund manager, managing funds for individuals and institutions such as Trade Union Congress of Nigeria.

The collaboration with Unity Bank is expected to expand the retail and  Small Scales Enterprise, SME platform of the bank.

Market operators who spoke to Vanguard about the alliance said “It is a unique opportunity that has the potential to broaden the bank’s customer base and provide long term stakeholder value.”

Furthermore, given the current economic outlook, the operators said “this strategic alliance is a proactive response that is a value investment with immediate benefits that will enhance the capacity of the bank to meet the needs of its banking public.”