SMEs, bank's opportunity to grow deposits, profitability, says Phillip Isakpa

SMEs, bank’s opportunity to grow deposits, profitability, says Phillip Isakpa

By Oluwaseun Afolabi

Banks stand to increase profitability and grow their deposits with a thorough engagement of small medium scale enterprises (SMEs) in Nigeria.

Business media publisher, Phillip Isakpa, who is also executive editor, business a.m Newspaper, stated this in his address at the business a.m SME conference 2019, themed “The future of SME banking in Nigeria.”

Isakpa, who raised concerns about the unsavoury relationship between SMEs and banks, said, “for far too long, the discuss around SME has been centred around the problem they face, most especially financing.

“We are concerned about the stories about the unsavoury relationships between SMEs and banks, which over the years have left many with burnt fingers. Small businesses are banks opportunity to grow deposit, improve spread and increase profitability.”