Saturday, October 02, 2021 05:00 AM / by Proshare Research/ Header Image Credit: EcoGraphics
Beyond the complex numbers of an analyst's spreadsheet, Kenny Rogers's The Gambler song plays softly in the background to FBN's recent saga. Holding, folding, and walking away is simple but not random; the poker or bridge cards tell a story, and the hero at the end of the tale is the player that discerns the moves of others and creates an opportunity to ride upon their foibles.
However, corporate card play is notably different. The intelligent corporate strategist is not obsessively worried by business rivals if generic marketplace strategies such as product or service differentiation and cost containment (Michael Porter's five forces surrogates) are used as dummy moves to disguise the actual intention of reimaging and redefining the marketplace or choosing to play a market game situated in uncontested commercial territories (Kim and Mauborgne's blue ocean shift).
A few pointers to the path of corporate sustainability include the following:
Illustration 12: The Hard Road to Sustainability
The road to the future will be challenging and gruelling; yet, if FBNH and FBN can resolve administrative and interest conflicts, the lender could hold its own in the Nigerian Tier 1 banks committee. However, if stubborn resistance to external and internal change is allowed to fester, the circus trick of stacked gambling cards will come crashing down.
Downloadable Versions of 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards Report (PDF)
1. Executive Summary: 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards - September 19, 2021
2. Full Report: 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards - September 19, 2021
1. Of First Bank and Bad Debtors; A System's Throbbing Headache - Apr 30, 2021 - Proshare Editorial
2. CBN Removes Boards of First Bank of Nigeria, FBN Holdings; Appoints New Chairmen - Apr 29, 2021 - Proshare News
3. Analyzing the H1 2017 Performance of FBNHoldings Plc - A Comprehensive Report - Oct 23, 2017, Proshare Research
4. FBNHoldings Plc Q1'2017 Performance Assessment Report Updated - Sep 25, 2017, Proshare Research
5. Bank NPLs (23) - The Case for a New Approach - Jun 07, 2020 - Debtors Africa
6. W. Chan Kim and Renee Mauborgne (2004) "Blue Ocean Strategy"
7. Board Governance: A Thin Line Between Oversight and Operations - Sep 28, 2020 - IoD Centre for Corporate Governance
9. CEO Remuneration 2021 Report: From COVID to Collaboration - Aug 01, 2021, Proshare Research
10. Memo to the Market - The NSE, Oscar Onyema Foundation and Corporate Governance - Aug 20, 2018, Olufemi Awoyemi, Proshare
FBN Holdings Plc - IR Page on Proshare MarketsProshare Research
Annual Accounts - IR Page in ProshareProshare Research
13. Bernard Longe wins suit against First Bank Plc, Supreme Court decides today - Mar 05, 2010, Proshare
Related News from the Report
1. ARMA: Forecasting FBNH's Year-End Share Price - Oct 01, 2021
2. 100 Days After CBN's Board Removal: The Analyst Buggy Train - Sep 30, 2021
3. FBN Holdings Valuation: Turning the Analyst's Lenses on FBNH's Value - Sep 29, 2021
4. FBNH 100 Days After CBN's Board Removal: The FUGAZE - Sep 28, 2021
5. Of FBNH Numbers and Tables: A Look at the FBNH Ratios - Sep 27, 2021
6. Of FBNH Numbers and Tables: The Statement of Financial Position - Sep 26, 2021
7. Of FBNH Numbers and Tables: The Trend of Cost and Profitability - Sep 25, 2021
8. Of FBNH Numbers and Tables: Understanding Performance Patterns - Sep 24, 2021
9. Adeduntan's Need for New Glasses: Confronting the Legacy Question -Sep 23, 2021
10. First Bank Board Removal: When Boards Blur Vision - Sep 22, 2021
11. First Bank and Institutional Learning - A Sense of History - Sep 21, 2021