Enterprise Bank flags off gratuity payment to defunct Spring Bank staff

As part of its commitment to building a highly motivated workforce, Enterprise Bank Limited has commenced the payment of gratuity to qualifi ed staff of the defunct Spring Bank Plc.

About 817 staff will benefi t from the exercise meant to seal issues related to staff welfare of the defunct bank that ceased existence two years ago.

Already, former staff of the defunct bank numbering about 235, who have left the employment of Enterprise Bank, but were qualifi ed for the gratuity in line with the former bank’s Human Capital gratuity policy have been fully paid.

Under the defunct Spring Bank Staff Policy as contained in the Staff Hand Book, the Njie Gratuity Scheme states that any member of staff, who has served for fi ve years and above and is retiring, or leaving service for reasons other than dismissal on account of fraud, miss-conduct or any criminal offence shall receive a gratuity based on total years of service.

To uplift the morale of the 582 staff of the defunct bank, who are still in the employment of Enterprise Bank but had stayed up to fi ve years as stipulated in the policy, the Management of Enterprise Bank has begun paying their calculated entitlements.

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