Femi Otenigagbe held the office of MD/CEO from inception till 2019.
[3] After operating for ten years, Parallex Microfinance Bank applied for a Commercial Banking License and by November, received an Approval in Principle for conversion from a MicroFinance to a Commercial Bank.
[3] In 2021, Mr. Femi Bakre was appointed as managing director of Parallex Bank.
[4] In 2022, Parallex Bank introduced and sponsored a new category of Awards at the Headies, 'The Humanitarian Award' where the winner receives 10 million naira for donation to charity along with a headies plaque.
[8] Lagos State government partnered Parallex bank to improve the payment solutions for its athletes in August 2024.