The board expressed its satisfaction with the impressive growth that Parallex Bank has achieved under Dr. Bakre's guidance since receiving its commercial banking license from the CBN in 2021.
This decision by the Board of Directors highlights Bakre's crucial contribution to enhancing the bank's growth and its reputation as a customer-focused financial institution.
The board noted that Bakre has played a key role in evolving Parallex Bank into an innovative organization that emphasizes exceptional customer service and forward-thinking strategies.
His dedication to excellence, combined with extensive experience and a strategic outlook, has positioned the bank for sustainable growth. The board is excited to have him continue leading the organization as it nears the final stages of capitalisation in accordance with CBN directives.
With over thirty years of banking experience, Bakre has demonstrated remarkable expertise across various sectors, including multilateral business, financial institutions, public sector, corporate, commercial, SME, and retail banking. He took on the role of Managing Director at Parallex Bank in May 2021.
Recognized in the banking industry for his unwavering commitment to excellence and effective execution, Bakre has implemented innovative solutions that have established Parallex Bank as one of the most technologically advanced and customer-centric financial institutions in the nation.
Under his leadership, the bank achieved profitability in less than three years of operation as a commercial entity, surpassing expert expectations. The bank has received numerous accolades and continues to exhibit a sustainable and upward growth trajectory.
Bakre expressed his profound gratitude for the trust placed in him by the board, emphasizing that this renewal signifies not only a personal achievement but also highlights the collective successes of the Parallex Bank family.
He added that the bank is committed to transforming the banking landscape in Nigeria and providing exceptional value to its stakeholders. A distinguished professional with numerous accolades, including The Sun Banker of the Year 2024, Bakre possesses a master’s degree in banking and finance from the University of Lagos and has acquired over 36 professional certifications both nationally and internationally.
In recognition of his significant contributions to the banking sector and his outstanding leadership, Bakre has received several honorary degrees, such as a Professional Doctorate from the City University of Paris and a Doctor of Philosophy in Business Administration from Prowess University in Delaware, USA.