HomeNewsTrust Bank grows in leaps and bounds

Trust Bank grows in leaps and bounds

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Trust Bank continues to grow in leaps and bounds as it has opened 14 branches including three agencies a year after it re-opened its doors to the banking public.

The bank’s managing director Nyevero Hlupo said 2011 had no doubt been a challenging year for the bank, but was also exciting for the Trust Bank family.

Hlupo said a lot of elements were redefined for the business in terms of “realising who we are and what opportunities are there for our taking”.

“The first six months were characterised by a drive to establish representation for the bank in areas of vibrant economic activity.

“This resulted in the bank opening fourteen branches including three agencies, a fact which pleases us greatly when we look back on the year.”

Hlupo commended the ICT team for rolling out the bank’s core banking system which was home-grown, robust, flexible, easy to run, cost effective and integrated seamlessly with most value-added systems that expand and enhance delivery channels.

He said the second half of 2011 focused on consolidating and nurturing growth of the business.

“This is a strategy that we are likely to continue implementing well into the second year of our operation. Indeed, we are humbled by the support we have received from our stakeholders including, customers, staff, investors and the market at large,” he said.

Hlupo said the banking environment had challenges given liquid limitations forcing market players to fight over a limited deposit base.

“Additionally, depositors are investing in short-term instruments that are unable to support long-term capital projects.

“Despite these challenges the Trust Bank Corporation team has continued to be creative in its efforts to mitigate against these conditions,” he said.

He said the group had created products and services that make banking attractive and convenient through a customer-centric team.

Hlupo said despite the bank meeting minimum capital requirements, it was actively pursuing other options in order to expand in the New Year.

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