LAPO Records N1.8bn Deposit, Rewards 101 Customers

LAPO Microfinance Bank has rewarded 101 of its customers with cash prizes totaling N5 million in the season two of its Xpress Savings Promo which saw it pull in over N1.8 billion in deposit during the period.

Speaking at the draw which was held in Lagos yesterday, Head Corporate Planning at LAPO Microfinance Bank, Dorcas Thrope noted that the season two of the promo had seen more participation with the bank seeing a N1.8 billion savings by customers in the three months duration of the promo.

At the end of the draw, 100 customers were rewarded with a consolation prize of N40,000 cash each while the star prize winner received a cash prize of N1 million. She explained that to qualify, customers only need to save N10,000 every month for three months with a balance of N30,000 at the end of the three month period.

Thrope stated that “when we started this promo season one we had roughly about 50,000 customers. Season two promo has seen more customers come on board and also even in terms of the savings so For this promo we did over N1.8 billion savings in three months. And that for us was very impressive.

“This showed us a lot of people who didn’t know that you could save with LAPO now and we are a very safe place for the funds and then beyond just savings, we are able to also compensate and say thank you for saving. So, season two has been really good for us and we were looking forward to season three.

On her part, executive director Corporate Services at the bank, Gloria Bako noted that the LAPO Xpress savings promo is to “encourage our clients and to also let them know that LAPO keeps to its words.  Season two is to encourage clients that have been saving with us for 10 to 15 years and to also tell them that we appreciate them saving with us. We had various prices with the star prize being N1 million and 10 consolation prizes of N40,000 each.

“In the previous season, we had N500,000 as star prize and N20,000 as consolation for 100 customers. This year we did double and that tells that season three will be very interesting and engaging. 

So, we encourage all our customers and clients and those that want to join that LAPO is a safe place for their savings and they will get the benefit of saving with us.”