Heritage Bank Repositions for Improved Efficiency

Heritage Bank Repositions for Improved Efficiency

Heritage Bank Plc has announced the restructuring of its workforce, as part of efforts geared towards greater efficiency and resource optimization, in line with its growth and industry innovative agenda designed to strengthen the bank’s business across all markets where it operates.

According to a statement from the bank, the restructuring processes was to upscale the institution’s activities in the strategic sectors of the economy as well as concentrating on and deploying its expertise and competences to specific business areas where it enjoys comparative business advantage.

The recent restructuring, the statement added, came after a review of senior staff bench strength and industry standards and realigned certain roles bank-wide and that those affected by the exercise were adequately compensated.

The bank announced the elevation of some members of its workforce with higher responsibilities, in line with its on-going determination to reposition.

There is no doubt that the banking industry, like every other sector in the country is going through rough times resulting from the nation’s economic woes and that the move was part of the bank’s strategic plan to keep a vibrant workforce that will help it achieve its vision of being Nigeria’s most innovative bank of choice in service delivery, superior returns to the various stakeholders, while contributing to national economic growth.

This position, the statement added, is buttressed by the fact that Heritage Bank is well known for supporting small businesses, which is another way of bringing as many small businesses as possible together in a bid to add value to MSME sector of the economy.

One of its initiatives in the MSME sector is the partnership with the Central Bank of Nigeria (CBN) and the National Youth Service Corps (NYSC). The N3 billion partnership tagged the “Youth Innovative Entrepreneurship Development Programme (YIEDP),” is targeted at youth, particularly members of the National Youth Service Corps (NYSC) and those who completed the scheme within the last five years.

Also, in furtherance of its commitment to creating jobs and wealth, Heritage Bank in partnership with the Center for Value Leadership (CVL)developed various impact-driven programmes to empower the youths and women particularly in the under-developed communities in Lagos State and one of these is the Young Entrepreneurship Business Training Programme (YEBTP).

The YEBTP is a programme aimed at grooming, mentoring, and financing 100 aspiring and existing young micro entrepreneurs in Ajegunle, Lagos State. This will be achieved in the form of a grant scheme of about N8.5million, in which the funds will be used to purchase the equipment needed by the entrepreneurs to start their businesses.