Unity Bank Forges Alliance to Enhance Capital

0

Unity Bank Plc has forged a strategic alliance with Black Trituium, an equity and investment fund manager, in a bid to achieve a milestone repositioning of the Bank. THISDAY learnt that in furtherance of the above, the Group is poised to make significant equity investment in Unity Bank Plc.

This strategic alliance 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.

The Black Trituium 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 SME platform of the Bank.

Investment analysts see this as 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, 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.

The alliance will support government initiatives aimed at driving growth in the real sector through SME and retail products, with particular focus on the Agricultural sector.