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Governor Emmanuel reaffirms Commitment for a Recapitalization of Akwa Savings And Loans Limited

akwa savings and loans limited

The Akwa Ibom State Governor, Mr. Udom Emmanuel has assured that he is committed to the full resuscitation and recapitalization of a state-owned mortgage bank, Akwa Savings and Loans Limited. 

Emmanuel who made the assertion at the commissioning of the new headquarters of Akwa Savings and Loans limited in Uyo on Friday said he had directed his hon commissioner for finance to ensure the speedy recapitalization of the financial institution.

Gov Emmanuel who was represented by the Secretary to the State Government, Dr. Emmanuel Ekuwem formally inaugurated the state of the arts new office building which has a large banking hall, offices, boardrooms and other banking facilities.

In his welcome address, the chairman of the board of Akwa Savings and Loans Limited, Mr. Uduak Ewitat said the bank has returned to the path of operational efficiency and profitability in due course.

“There is renewed customer confidence in the bank as demonstrated in increased patronage as deposit generation has been boosted from n286million to n458 million as at December 2017. we have recorded more new accounts being opened and reactivation of dormant accounts are ongoing”.

” The aggressive stance towards delinquent debtors has translated into a marked improvement in loan recovery from 136 million nairas to 298 million nairas at the end of 2017″.

Ewitat announced that the operating system of the bank has been modernized with a robust it platform that has positioned the bank to deliver online real-time operational capabilities.

He said the new banking software now enables Akwa savings and loans limited to carry out revenue and fees collection, money transfers esp, transaction.

“it is anticipated that revenue/fees collection agencies like firs, Akwa Ibom internal revenue service, state-owned universities, and schools will utilize the services of the bank” he added

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