October 4, 2010
The management of Oceanic Bank International plc last week rewarded some members of staff at its Special Thanks and Recognition Scheme (STARS) awards event for their exceptional performance in the last one year.
Speaking at the event, Apostle Hayford Alile, chairman, Oceanic Bank International Plc said the leading financial institution was blessed to have an assemblage of top-class professionals who are passionate about ensuring that Oceanic Bank stands out as a preferred financial services provider.
Alile explained that although all staff gave their best towards ensuring the Bank’s turnaround one year after the CBN intervention, the event was organized in honour of staff who have distinguished themselves.
“In the last one year, the bank’s management and workforce have stabilized the bank, brought it back from the brink of collapse and repositioned it on the path to profitability, thus securing the future of the Oceanic brand . Only stars can achieve such a feat within so short a time, and I am happy to declare to you that the staff of Oceanic Bank are stars indeed.”
Dignitaries at the event, including industry experts, commended Oceanic Bank for its commitment to staff empowerment, good corporate governance, superior service delivery, effective risk management, and transparency. They added that the bank’s leadership and workforce deserve special commendation for steering Oceanic Bank in the path of excellence and professionalsm.
The Oceanic STARS awards saw several individuals and teams receive rewards in various award categories including: Customer Service, Profitability, Liability Generation, Cost Optimization, MD's Recognition Award (Innovation/Initiative), and Recovery of Non- Performing Loans. Regarded by employees as the bank's version of the Oscars and Grammys, the Oceanic STARS awards has over the years been a rallying point for fostering bonding, excellence, and productivity.
John Aboh, Group Managing Director/CEO said the resilience and dedication of the Bank’s workforce have enhanced its quest for a brighter future that holds endless possibilities for its customers and stakeholders. Aboh also commended the Bank’s numerous customers and shareholders for their confidence and patronage, adding that Oceanic Bank will continue to remain focused on providing efficient customer focused services.
While declaring Branch Operation Group as winners of the MD’s Recognition Award for Innovation/Initiative, Aboh noted that the group was the best among equals considering that all departments were outstanding in the period under review.“I Commend the Branch Operations department for winning the MD's Recognition Award for Innovation. This award is dear to my heart as it recognizes the exceptional commitment of our operations staff towards delighting our customers.”
Winners include: MD’s Recognition Award for Innovation (Branch Operations); Most Profitable Branch (Aba Road, Port-Harcourt); Most Profitable Zone (Asaba Zone); Most Profitable Subsidiary (Oceanic Registrars); Employee With Highest Deposit Mobilisation (Ibiyemi Aduwo); Employee With Highest Current Account/Savings Account (Folashade Orimalade); Branch With Highest Current Account/Savings Account (Abuja 1); Zone With Highest Current Account/Savings Account (FCT 2 Zone) and Corporate Office Group With Highest Current Account/Savings Account (Corporate Branch).
Other winners include: Branch With Highest Collection Volume (Port Harcourt Main); Branch With Highest Letter of Credit Volume (Apapa); Branch With Best Improved Non-Performing Loans/Total Loans (Okpanam); Customer Service Excellence for Head Office Department (Branch Operations, Foreign Operations, Information Technology); and Customer Service Excellence across the six geo-political zones – South East (Emmanuel Njoku, Owerri); South West (Surajudeen Sadiq, Ondo Town); North East (Auwalu Yawale, Yola); North Central (Kome Edevbie, Mararaba); North West (Friday Onwuna Jr., Fcet, Gusau); and South South (Imeh Ubong, Uromi)
It would be recalled that Oceanic Bank’s performance in the current financial year has continued to signpost a trend of sustained profitability for the financial institution. The Bank recorded Gross Earnings of N64.27 billion and Profit Before Taxation of N10.19 billion in its unaudited results for the half year ended June 30, 2010.
Coming from a loss before tax of N50.78 billion in the corresponding period of 2009, the Profit before tax of N10.19 billion demonstrates the success of the Bank's transformation programme and an unfolding brighter future.With a branch network of over 365, a customer base of about 4.9 million and a deposit base of over N600Billion, Oceanic Bank has clearly established itself as one of the leading banks in the country.