August 24, 2011
THE business strategy of Mainstreet Bank Limited (MBL) will be anchored on market growth and customer satisfaction. This was disclosed last weekend by Mrs. Faith Tuedor-Matthews, managing director of Mainstreet Bank in Abuja at a staff engagement forum.
“We will position and grow Mainstreet Bank to be among the top four banks in the country in key parameters,” she stated.
“As a fully capitalised bank and with our bad debts taken over by AMCON, MBL is in a strong position to give quality loans and renew facilities. We are well capitalised to do business and compete effectively with the industry and not only the nationalised banks.
“We will build human capacity for enhanced performance and grow market share while we will de-emphasize inter-bank takings.”
She assured that all stakeholders will be carried along in the task of building MBL through regular information and purposeful leadership.
MBL had recently received the sum of N285 billion to boost its operations while its shareholders’ funds is now in positive position. Mainstreet Bank now posts capital adequacy ratio that is well above regulatory requirement of 10 per cent and has become one of the most capitalised banks in the country.
The bank stated that it would play big in the inter-bank market.
MBL, now fully recapitalised, last week demonstrated her financial strength by repaying the N50 billion Tier-Two capital obtained by the former Afribank Nigeria Plc on August 14, 2009.