‘It’s all conjecture’ — Heritage Bank denies ‘defamatory’ online reports

The executive management of Heritage Bank Plc has denied online reports of diversion of funds by a member of staff, describing the allegations as “wrong and defamatory”.

In a press statement shared with TheCable, the bank said “no funds were diverted by any member of staff”.

“These allegations are wrong and defamatory. These articles have used unrelated facts and conjecture to create a fictitious narrative,” the statement reads.

“Recently, Heritage Bank began implementation of its long-term sustainability plans premised on restructuring the bank, ensuring cost efficiency, management of its assets and resources towards restoring the financial institution.

“The reduction in the workforce, who were duly compensated in line with the bank’s policy, was necessary to improve our pace on the path of growth, in line with our turnaround targets, to be able to continue providing outstanding financial services to our customers.

“We remain focused and committed to collectively drive growth and deliver exceptional service to all. We will continue to work together to build a long-term sustainable future for our customers, employees and all our stakeholders.”