Skye Bank plans to grow alternative security markets through NSE

Skye Bank on Thursday said it would partner the Nigerian Stock Exchange to grow alternative security markets.
Timothy Oguntayo, the Group Managing Director of the bank, said this when he visited the NSE in Lagos.
Oguntayo said that the bank would support the NSE to develop and grow alternative security markets for the Small and Medium Scale Enterprises.
According to him, the bank, in its SMEs business platform, has financed many enterprises to greater heights in their businesses.
He said: “We have taken and financed companies like Tantalizer Plc and Multitreks Industry Plc. right from the beginning until they were listed on the NSE.
“And we have quite a number of other companies that are not yet listed, but are ripe to be listed.”
Oguntayo said that the bank would continue to invest in SMEs, adding that SMEs contributed significantly to the economic growth of any country.
According to him, the bank plays and invests in all sectors of the economy, including the real estate, hospitality, manufacturing and agriculture sectors, among others.
He said: “SMEs is not new.
“It is all over the world.
“But some countries have done better than the way we are doing it in Nigeria.
“The best way to do business is to learn from those who had done it successfully and that is what we are doing.”
Oguntayo said that the main focus of the bank was to diversify its business initiatives and contribute to the growth of the economy.