CBN has affirmed the capitalisation of Alpha Morgan Bank, strengthening growth and nationwide expansion.
NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has affirmed the capitalization of Alpha Morgan Bank, marking a significant milestone in the institution’s growth and reinforcing its ambition to build a strong, resilient, and future-ready financial institution.
The affirmation reflects the bank’s compliance with regulatory requirements and its strategic commitment to strengthening its capital base to support sustainable growth, innovation, and improved service delivery to customers.
With the development, Alpha Morgan Bank is now well positioned to expand its operations, with 14 approved branches across different states in Nigeria, while deepening financial inclusion and broadening banking solutions available to individuals, businesses, and institutional clients nationwide.
Speaking on the milestone, the Managing Director of the bank, Mr. Ade Buraimo, said the institution remains committed to regulatory compliance, sound corporate governance, and delivering high-quality banking services.
According to him, capitalization goes beyond meeting regulatory requirements and provides an opportunity for financial institutions to strengthen their long-term stability.
“Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future. The affirmation of Alpha Morgan Bank’s capitalisation reflects the work we have done to build a solid capital foundation that allows us to support businesses more effectively, expand financial access, and continue delivering the level of service our customers expect,” Buraimo said.
He added that the bank will continue to maintain strong corporate governance standards, robust risk management practices, and prudent financial management as it seeks to support economic development and create long-term value for stakeholders.
As part of its next growth phase, Alpha Morgan Bank plans to scale its operations by investing in technology, expanding its branch network, and strengthening its digital banking platforms to serve its growing customer base.
