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   Market Date: 23-01-2015   
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Skye Bank Opens Guinea Subsidiary

Category: Investors NewsBeat

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Skye Bank Opens Guinea Subsidiary


Skye Bank Guinea Limited, a subsidiary of Skye Bank Plc, has commenced operations in the West African country following the approval of Guinea’s apex bank.

A statement by the bank said Skye Bank (Guinea) Limited, has since begun operations as Skye Bank’s third foreign subsidiary after the opening of Skye Bank (Sierra Leone) Limited and Skye Bank Gambia Limited.The statement quoted Skye Bank’s Group Managing Director and Chief Executive Officer, Mr. Akinsola Akinfemiwa, as saying that the opening of the Guinea subsidiary represents another milestone in the bank’s quest at growing its business and expanding the reach of its ethical, professional and customer-driven financial services.

The statement also quoted the Skye Bank boss as saying  that further expansion activities would take place in future in line with the objective of establishing the bank as a dominant player in the West African sub-region.Skye Bank opened its first foreign subsidiary in Sierra Leone, which commenced operations on October 1, 2008. The Gambian subsidiary followed in July 2009. The bank also plans to open foreign subsidiaries in other countries such as Ghana in consonance with its focus of diversifying its business locations profitably.


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