We’re Implementing Long-term Sustainability Plan, Says Heritage Bank

*Says media reports of diverted funds untrue

Management of Heritage Bank Plc has debunked rumours in a section of the media alleging that some of her staff diverted funds.

In a statement released on Friday, the Bank described the claim as wrong and defamatory, and posited that the bank was implementing its long term sustainability plans premised on restructuring the bank and ensuring cost efficiency, management of its assets and resources.

It added that the reduction of workforce was a necessary step towards the realization of its plans, noting also, that the affected workers were duly compensated in line with the bank’s policy.

The bank promised to continue to provide outstanding financial services to its customers, employees and all stakeholders.

The statement read: “It has come to our attention that articles have been published by certain media platforms, making allegations of diversion of funds. No funds were diverted by any member of staff.

“These allegations are wrong and defamatory. These articles have used unrelated facts and 
conjecture to create a fictitious narrative.

‘Recently, Heritage Bank began implementation of its long-term sustainability plans premised on restructuring the bank, ensuring cost efficiency, management of its assets and resources towards restoring the financial institution. 

“The reduction in the workforce, who were duly compensated in line with the bank’s policy, was necessary to improve our pace on the path of growth, in line with our turnaround targets, to be able to continue providing outstanding financial services to our customers.

“We remain focused and committed to collectively drive growth and deliver exceptional service to all. We will continue to work together to build a long-term sustainable future for our customers, employees and all our stakeholders.”

We’re Implementing Long-term Sustainability Plan, Says Heritage Bank

*Says media reports of diverted funds untrue

Management of Heritage Bank Plc has debunked rumours in a section of the media alleging that some of her staff diverted funds.

In a statement released on Friday, the Bank described the claim as wrong and defamatory, and posited that the bank was implementing its long term sustainability plans premised on restructuring the bank and ensuring cost efficiency, management of its assets and resources.

It added that the reduction of workforce was a necessary step towards the realization of its plans, noting also, that the affected workers were duly compensated in line with the bank’s policy.

The bank promised to continue to provide outstanding financial services to its customers, employees and all stakeholders.

The statement read: “It has come to our attention that articles have been published by certain media platforms, making allegations of diversion of funds. No funds were diverted by any member of staff.

“These allegations are wrong and defamatory. These articles have used unrelated facts and 
conjecture to create a fictitious narrative.

‘Recently, Heritage Bank began implementation of its long-term sustainability plans premised on restructuring the bank, ensuring cost efficiency, management of its assets and resources towards restoring the financial institution. 

“The reduction in the workforce, who were duly compensated in line with the bank’s policy, was necessary to improve our pace on the path of growth, in line with our turnaround targets, to be able to continue providing outstanding financial services to our customers.

“We remain focused and committed to collectively drive growth and deliver exceptional service to all. We will continue to work together to build a long-term sustainable future for our customers, employees and all our stakeholders.”