Nova Merchant Bank MD extols customers at the heart of everything

The managing director/chief executive officer (CEO) Nova Merchant Bank Limited, Anya Duroha, said the bank has a sound risk management structure, good understanding of the business environment and customer base.

Duroha dropped this hint while speaking at virtual interactive session with reporters in Lagos, adding that “this is enshrined in our promise to our customers. We provide end to end financial services solutions covering corporate banking, investment banking”

Duroha disclosed that the bank’s Non-Performing Loan (NPL) ratio has remained at zero per cent and that the bank did not take any forbearance from the Central Bank of Nigeria (CBN) to restructure its loans.

He enthused that despite the economic crisis triggered by the COVID-19 pandemic, healthcare businesses and their value-chain were thriving.

Nova Merchant Bank Chief urged financial institutions to embrace innovation, while understanding the businesses they are funding.

According to him,  “The traditional ways of doing business cannot suffice. Therefore, every bank or financial institution needs to get very creative about the products they sell and how they offer these services in the market.”

Additionally, he said, that despite the pandemic, there are sectors that are doing well in the market such as information technology, fintechs and healthcare.

“Therefore, banks would need to refocus and support those industries clearly, even while fulfilling their role of working with the sectors that are not performing very well, to bring them back on stream. It is something we take very seriously. One of the things we do at the advisory side of our business is also to work with industries we had identified that are struggling to see how we can work with them,” Duroha said.

Since inception, he said, Nova Merchant Bank has been an information technology-driven bank, stressing that this has placed the bank above its peers in the industry.