Parallex Bank Limited has announced that it has successfully met and surpassed the ₦50 billion minimum capital requirement set for regional commercial banks by the Central Bank of Nigeria.

In a statement issued to customers, the Managing Director and Chief Executive Officer of the bank, Olufemi Bakre, described the development as a significant milestone that reinforces the bank’s financial resilience and long-term growth strategy.

According to Bakre, exceeding the regulatory capital threshold demonstrates the institution’s commitment to disciplined growth, strong corporate governance, and operational excellence.

“This milestone reinforces our position as a financially resilient and forward-looking institution and reflects our unwavering commitment to excellence, disciplined growth, and strong governance,” he said.

The bank noted that the strengthened capital base will enhance its capacity to expand lending activities, deepen financial inclusion, and deliver innovative banking solutions to customers.

It added that the improved capital position would enable the institution to scale its services across retail, small and medium enterprises (SMEs), and corporate segments of the Nigerian economy.

Bakre also expressed appreciation to customers and stakeholders for their continued support, assuring them that the bank remains committed to delivering greater value and impact in the years ahead.

Parallex Bank reaffirmed that the capital boost positions it strategically to take advantage of emerging opportunities within Nigeria’s evolving financial services sector while maintaining a strong focus on customer-centric banking.