Parallex transforms from microfinance to commercial bank

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Parallex Bank says it has officially transitioned from a microfinance institution to a commercial bank.

The bank unveiled its new brand entity, over the weekend at its corporate head office in Victoria Island, Lagos.

According to the bank, its transformation into a commercial bank is a first-of-its-kind achievement in the Nigerian banking space.

Adeola Phillips chairman of Parallex Bank, said the bank is delving into the commercial banking space to drive consumer-centric innovation that will propel the Nigerian banking industry to greater heights.

While emphasising that the bank’s goal is to drive convenient and efficient commerce through digital platforms.

– The Cable

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