To effectively utilize its new capital base of =N135billion and deliver commensurate returns to shareholders, Afribank Nigeria Plc has commenced retooling of its operational processes and expansion of its service delivery facilities.
The Bank has also commenced re-alignment of its human resources with a view to ensuring maximum output from each staff. The initiative is part of the broad strategy of the Executive Management and the Board which will make the new capital base deliver the BankÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¾Ãƒâ€šÃ‚Â¢s forecast figures as contained in the last Offer prospectus.
Presently, the Bank is investing heavily in its IT facility with a view to ensuring that the Bank speedily copes with the expected upsurge in its customer base. Also, it will enable it to offer more e-banking products and services to large clientele.
The Bank has consequently reviewed its operations and marketing models with a view to making sure that the new resources at its disposal are put into profitable use with assured superior returns to stakeholders.
Mr. Sebastian Adigwe, the Group Managing Director of the Bank, added that all areas of the Bank are being realigned, reviewed and assessed for optimum performance.
Under the re-alignment process, staff of the Bank are expected to undergo assessment that will reveal basic statistics on the bankÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¾Ãƒâ€šÃ‚Â¢s workforce, discover new competencies of staff and move staff to the area they are best fit.
The assessment is expected to reveal the training needs of each staff. This will enable the bank to make informed massive training arrangements which is intended to make staff more market relevant and offer more value to customers.
The Management has also commenced steady expansion of its operations by opening more branches in strategic locations in all parts of the country and partnering forward looking private and public institutions.
Mr. Adigwe stressed that the rise of the BankÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¾Ãƒâ€šÃ‚Â¢s capital base from N35 billion to N135 billion ( having recently raised additional equity of N100 billion) would enable it to execute transactions with huge capital outlay, globalize its operations more and reinvigorate its specialized subsidiaries for competitive performance and sector leadership.
ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã¢â‚¬Â¦ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œOur strategy encompasses all aspects of our operations, subsidiaries, local and international market, value propositions and customer relationship management. All these will turn into profit for investors and benefits to stakeholdersÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â, Mr. Adigwe noted.
He assured that the global banking public should be expecting good performance from the Bank as the profit generating capacity of the Bank has been enhanced with the new capital injection.
The Group Managing Director stressed that the Bank would sustain the progress tempo in its returns as evidenced in its first, second and third quarters returns.
ÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã¢â‚¬Â¦ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œWith our present level of performance, it is obvious we are going to better our offer forecast. The outcome of our retooling processes is good returns to shareholders and fulfillment of expectations of stakeholders.