See more as Nigerian bank clinched two awards in days for innovation, ethical practice

• LOTUS Bank has shone at the Global Retail Banking Innovation Awards 2024 held in Singapore
• The bank also received another award for its ethical practices and dedication to transparency and integrity in financial operations
• LOTUS Bank is one of Nigeria’s non-interest banks, allowing current accounts to operate without paying interest

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

LOTUS Bank has received the awards for Best Financial Inclusion Initiative and Debit Card of the Year at the 2024 Global Retail Banking Innovation Awards in Singapore.

Loftus Bank Shines at award Photo credit: Bloomberg/contributor
Source: Getty Images

Additionally, the bank was honoured with the Ethical Banking Leadership Award of the Year at the recent Banks and Other Financial Institutions (BAFI) Awards.

ThisDay reports that the award was for LOTUS Bank’s commitment to innovation in financial services and its dedication to ethical banking practices.

Kafilat Araoye, managing director of LOTUS Bank, expressed her excitement about the bank's accomplishments. L

She said:

“We are honoured to receive these awards, which validate our efforts to make banking accessible for everyone. Our team’s dedication to developing products that cater to the needs of diverse communities drives our mission forward.

Leadership reported that Araoye stressed the importance of the Ethical Leadership Award received at Businessday’s BAFI Awards, saying:

“It underscores our commitment to transparency and integrity in all our operations. We believe that ethical banking is essential for sustainable growth, and we will continue to lead by example in the industry.”"The flagship debit card program, known for its user-friendly features, has empowered clients with greater control over their finances. "Notably, this debit card was utilized for onboarding athletes from across Africa at the recent Federation of African Students' Games (FASU) and the Nigeria Medical Students Association Games (NIMSA), both of which LOTUS Bank sponsored."

Loftus opens a new branch

Earlier, Legit.ng reported that LOFTUS bank recently opened a new branch in Lagos.

DailyTrust reported that the bank said that its new location will offer enhanced banking services tailored to meet the needs of both individuals and businesses.

LOTUS Bank, one of the non-interest banks in Nigeria, now has 56 footprints all over Nigeria.

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Source: Legit.ng