The Alternative Bank (AltBank) has inaugurated a new branch in Effurun, Delta State, extending its non-interest banking services to the wider Edo/Delta corridor.

The move aims to provide individuals, businesses, and community institutions with alternatives to conventional banking, particularly in a region noted for its commercial vibrancy and large informal sector.

At the opening ceremony, Chukwuemeka Agada, Divisional Head (South) of AltBank, said the branch reflects the Bank’s commitment to working closely with communities in and around Warri.

“By establishing a presence here, we are initiating a transformation in the way banking serves the people of Delta,” he said.

Agada added that the Bank plans to tailor its services to the needs of traders, small and medium-scale enterprises, and the growing population of young professionals in the area.

The launch was attended by traditional and government representatives, 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 officials from the Delta State Government, highlighting the local interest in expanding financial access in the state.

Chief (Dr.) Samuel Eshenake, representing the Ovie, urged the Bank to ensure its operations translate into tangible community benefits, particularly in employment creation and economic growth.

In response, Akanni Owolabi, Regional Head, Edo/Delta, emphasized that the branch would actively engage local stakeholders.

“We see this branch as a catalyst for creating opportunities and supporting the growth of local businesses,” he said.