Afribank Plc has assured its customers that its on-going action plan will give priority to building a better business model and the development of customer-focused products.
The bank said in a statement on Saturday that its increasing liquidity position, made possible by continuous recovery of debts, in addition to the injection of funds by the Central Bank of Nigeria , would aid the plan.
It said the action plan, premised on ”Stability and Business Continuity”, would facilitate the implementation of business process re-engineering, commitment to best ethical practices and professional conduct among others.
According to the statement, ”As at last week, the bank had recovered over N25bn of debt owed it and this has continued to bring its indices within regulatory prescriptions. The bank is also leveraging on its market friendliness and customer-centric initiatives to grow new businesses and attract deposits.
”The thrust of the business model is focused on initiatives that will further enhance the profile and ability of the bank to service its diverse customers more competitively in its effort to be a bank of choice in the industry.”
The bank explained that the new business paradigm, which would be of global standard, became possible after a strategic and comprehensive review of its existing business processes, adding that this placed it on a good footing to meet the challenges and needs of modern day banking public.
The statement said with its stronger ability to fulfill its obligations, the bank would soon come out with mass oriented banking products that offer special value and attractions and filled identified gaps in the market.
Afribank last week announced the appointments of four technocrats to form its new executive team.
The statement said the executive directors had the requisite industry experience to provide sound direction for the bank‘s expansion and industry leadership objectives.