What it does: Heritage Bank is currently licensed by the Central Bank of Nigeria to provide various financial services such as the internet or digital banking, corporate banking, investment banking, retail banking, and asset management.
Mission: Heritage Bank intends to utilize its expertise in the financial market with a culture of integrity and operational excellence to provide value for its stakeholders.
Size and presence: Heritage Bank employs 900 people across its 127 branches in Nigeria.
Best known for: Heritage Bank is best known for its tenacity in delivering distinctive banking or financial services. The bank is best known for prompt and responsive customer support. This company also provides its clients with a seamless banking experience.
The good bits: Great work culture. Fair work-life balance. Job security. It's an excellent place to begin one's career.
The not so good bits: Promotions may not come as fast as expected. High work pressure in the marketing department.
In the late 70s, Heritage Bank was founded by the late Dr. Olusola Saraki as Societe Generale Bank. In early 2006, the Societe Generale Bank was shut down by the Central Bank of Nigeria. This happened because the bank failed to achieve the revised minimum capital requirement (₦25 billion) for National Banks. However, Societe Generale Bank didn't settle for that, so they took the matter to court and won the litigation.
Six years later, the Central Bank re-licensed Societe Generale Bank to operate as a regional bank. After a change in ownership and re-licensing, Societe Generale Bank rebranded as Heritage Banking Company Ltd. They opened for business as Heritage Bank on the 4th of March, 2013. In 2014, Heritage Bank satisfied the requirements of AMCON (Asset Management Corporation of Nigeria) and CBN (Central Bank of Nigeria) to acquire Enterprise Bank Ltd successfully.
Today, Heritage Bank is one of the leading financial institutions in Nigeria with a widespread presence.
Heritage Bank establishes its work culture on core values such as passion, respect, courage, inclusion, diversity, excellence, and integrity. The bank has a relaxed work atmosphere that enhances the productivity of its employees. Heritage Bank promotes diversity, equality, and inclusion, and its workforce reflects that.
Heritage Bank also has a work atmosphere that encourages learning and growth. It's an ideal place for fresh graduates who want to begin their banking careers. The employees show mutual respect there's a palpable sense of community in the organization.
Heritage Bank adopts a thorough recruitment process that involves:
Heritage Bank creates an environment that promotes learning via enriching work experiences and collaborative tasks with more experienced colleagues. This is beneficial to fresh graduates because it will aid their professional growth. Promotions to more advanced and higher-earning job roles don't come as fast as expected, but they are earned in due time.
Even if one doesn't intend to stay long-term in this bank, the wealth of experience they will gain in a short period is enough to make them high-value employees. Add this to the fact that one's time at the company will expose them to well-connected individuals who will be valuable in the future.
A fresh graduate working at Heritage Bank earns an average annual salary of ₦1.2 million.
Heritage Bank gives back to Nigerian society by promoting and supporting youth empowerment schemes, art projects, and community developments. They support community development through the donation of solar street lights. In addition, they search for communities deprived of potable water and execute borehole projects there. They also promote sports projects by partnering with the Para-powerlifting Federation.
In the wake of the effect of the COVID-19 pandemic on the education sector, Heritage Bank supported over 300 private school staff members and small-medium enterprises.
There's no widely published controversy directly involving Heritage Bank.