The Alternative Bank (AltBank) has strengthened its presence in the Edo/Delta corridor with the opening of a new branch in Effurun, Delta State, expanding access to non-interest banking solutions for individuals, businesses, and community organisations.

The new branch aims to serve traders, SMEs, and young professionals in a region renowned for vibrant commercial activity and a significant informal economy.

Speaking at the inauguration, Chukwuemeka Agada, Divisional Head (South) of AltBank, highlighted the bank’s commitment to community engagement. “By establishing a presence here, we are transforming the way banking serves the people of Delta,” he said, noting that services would be tailored to the specific needs of the local population.

The launch drew prominent traditional and government figures, including His Royal Majesty Emmanuel Ekemejewa Sideso Abe I, the Ovie of Uvwie Kingdom, the Vice-Chairman of Uvwie Local Government, Hon. Andrew Agagbo, and other Delta State officials, underscoring strong local support for the bank’s arrival.

Delivering a message on behalf of the Ovie, Chief Samuel Eshenake encouraged AltBank to contribute meaningfully to community development, particularly in employment creation and economic empowerment.

Akanni Owolabi, Regional Head for Edo/Delta, reaffirmed the bank’s commitment to collaboration with stakeholders. “We see this branch as a catalyst for opportunities and the growth of local businesses,” he said.

AltBank operates on non-interest banking principles rooted in Islamic finance, focusing on asset-backed transactions and risk-sharing mechanisms. With the Effurun branch now open, residents and businesses in neighbouring communities can access tailored financial products and services aligned with this model.