Financial Crisis Hit Polaris Bank, May Collapse Over Financial Threat,100 Managers Suspended

Polaris Bank is currently facing on financial crisis as it was gathered on Friday that Polaris Bank is allegedly owing workers salaries, and have suspended over 100 management staff for having a nonperforming loan ratio above 5%, as reported by Platinum Post....CONTINUE READING

The report also gathered that the loans were duly approved and interests earned by the bank…..CONTINUE READING

A source also disclosed that several of individuals and SMEs have closed their accounts with the bank and moved their deposits to safer banks.

According to the report, “The management staff of the bank who spoke to our correspondent on condition of anonymity said the bank was looking into these issues but that the story was meant to create panic in the industry. He appealed to customers to exercise patience with the bank while it navigates through the difficult phase…..CONTINUE READING