By Tony Manuaka
After more than three decades of banking experience that cuts across the multilateral business, foreign and local financial Institutions, public sector, corporate and retail banking as well as customer relationship management, Femi Bakre has earned a prime position among top bankers in the country.
His appointment as Managing Director/Chief Executive Officer of Parallex Bank Limited in January 2021 marked a turning point in his exciting banking career. Known in banking circle for his natural drive for excellence, Bakre is purposeful, focused, self-driven and very proactive in handling issues. With more than 36 professional certifications in addition to degrees, Bakre holds a master’s degrees in Banking and Finance from the University of Lagos. His outstanding qualities and drive to achieve set objectives have earned Parallex Bank, the enviable reputation of being one of Nigeria’s foremost customer-centric financial institutions.
Bakare has deployed uncommon skills to make Parallex Bank one of the technology-driven financial institutions in the country with the aim of rendering premium value-adding services that meet customers’ expectations. In less than two years of its operation as a deposit money bank, Parallex Bank has shown strong signs of being a sustainable profitable bank.
As a result of the substantial investments in digital technology, Parallex Bank is gradually becoming the preferred bank in the industry due to the efficiency, convenience and reliability of its digital platforms. The bank is driven by a commitment to deliver products and solutions that meet the needs of all customer segments, including individuals, corporate, and businesses, especially SMEs and commercial entities.
With a vision to leverage talent and technology to enhance efficiency, expand its product offerings, and deliver exceptional customer experiences, Parallex Bank is tailored towards providing easily accessible and affordable financial products and services that suit the needs of different customers, especially the tech-savvy, the youngest generation, millennial as well as Nigerians in the Diaspora.
Prior to his emergence as the Managing Director/Chief Executive Officer of Parallex Bank, Bakare was an industry player in different capacities at different times. He has had a flourishing career in banking beginning with MBC International Bank, where he rose to the position of a General Manager and later became the Group Head, Multilateral, Financial Institutions and Global Custody, at First Bank after MBC was acquired by First Bank in 2006. At First Bank, he distinguished himself by initiating and delivering the First Bank China Representative Office.
Having joined First City Monument Bank in 2011, he occupied various positions until 2015, when he was appointed Executive Director of Corporate & Institutional Banking in the United Kingdom and Nigeria, a position he held till March 2020.
For his savvy in banking, Femi Bakare wins The Sun Banker of the Year award, 2023.