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Keystone Bank realigns to energise growth, appoints new executive directors

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In line with strategic business intent and corporate realignment to sustain continued business growth, the Board of Directors of Keystone Bank Limited has announced the appointment of three new Executive Directors.  At its 49th, Annual General Meeting held in Lagos, the Board approved the appointments of Tijjani Aliyu, Olaniran Olayinka and Lawal J. Ahmed  as Executive Directors, subject to the approval of the Central Bank Of Nigeria (CBN).

In a statement by the divisional head, marketing & corporate communications of the bank, Mrs. Omobolanle Osotule, made available to journalists on Monday, said that the three new executive directors will join the executive management office to pursue and deliver on the bank’s strategic business objectives bringing to bear their in-depth wealth of banking experience garnered over the years across various sectors.

Commenting on the development, the Chairman of Keystone Bank, Alhaji Umaru H. Modibbo noted that the promotion of the three former General Managers to Executive Directors is in line with the bank’s corporate governance and culture of maximizing her human capital through consistent leadership development and training.

‘’Since we restructured, we have intentionally and proactively nurtured our talent in readiness for future leadership opportunities that will arise in the organisation. It is therefore a major feat for us that we were able to appoint the three new Executive directors from our internally groomed executives’’ said Modibbo.

Tijjani holds a Bachelor’s Degree in Economics from Bayero University, Kano and an MBA from the Bangor Business School, UK. His experience spans over two decades in both regulatory and top financial institutions in Nigeria. He is a member of various professional bodies and has attended various courses within and outside Nigeria including INSEAD Business School and the US Federal Reserve Bank in Washington.

He is a consummate Risk professional and a member of Risk Managers Association of Nigeria (RIMAN), Chartered Institute of Bankers (ACIB, HCIB). His experience in the financial services sector covers operations, treasury, Banking Supervision, Finance, Mergers and Acquisitions, and Risk Management. Until his elevation, he was the Chief Risk officer of Keystone Bank.

Olaniran holds a First Class Bachelor’s degree and a Master’s Degree in Economics from the prestigious University of Lagos. He has attended several executive courses and programs in Banking Operations, Credit, Risk Management, Business Process Re-engineering, Change Management amongst others.

He had a 4 years stint with PricewaterhouseCoopers and 25 years banking experience covering Operations, Human Resources Management, Corporate Banking, Commercial Banking, Retail Banking and Institutional Banking.

Until his elevation, he was the Regional Head Corporate Bank and West, Keystone Bank Limited.

On his part, Lawal, holds an LL.B Degree from the University of Jos, and an LL.M Degree from University of Dundee, United Kingdom. He has over 19 years post-call experience that cuts across Legal Practice, Banking Regulation, Process Improvement, Conflict Resolution, Project Management and Regulatory Compliance.

He is a Fellow of the Compliance Institute of Nigeria (FCIN) and has attended top global educational and professional institutions including the London School of Economics (LSE), UNESCO-IHE, Institute for Water Management Delft, Netherlands, the Clingendael Institute for International Relations, Den Haag, Netherlands, US Federal Reserve,

Washington DC, USA and Financial Stability Institute of the Bank for International Settlements. Until his elevation, he was the Chief Compliance Officer of Keystone Bank Limited.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

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Unity Bank partners Signal Alliance and Businessday to host SME Clinic

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As part of collaborative initiative to consistently promote Small & Medium scale enterprises (SMEs), Unity Bank recently held its maiden edition of SME clinic in conjunction with Signal Alliance and Businessday Newspaper as a capacity building workshop to bridge knowledge gap.

The SME clinic was designed to boost SMEs operators by leveraging effective branding and marketing strategy expected to play key role in creating added value for products and making start up become a big brand enterprise.

Coming on the verge of the 5th industrial revolution and the need to put SMEs ahead of the fast paced developments, the clinic provided platform to expose participants drawn amongst Fintech operators, Retailers, Social services, Schools, Contractors, Professional service firms, Wholesalers, Manufacturers, Hospitality, NGOs, Clubs and Associations, Supplies and Agric value chain to the opportunities available as convergence of technology and human begin to take center stage.

Commenting on the Clinic, the Head of SME, Unity Bank Plc, Opeyemi Ojesina said that as a key market focus contributing about 48% of the national GDP in the last five year, 50% of industrial jobs and nearly 90% of the manufacturing sector in terms of number of enterprises, hosting a capacity building initiative of this nature enables the Bank to have more insight for enhancing financial inclusion plan for SMEs.

He further stated that as a leading Bank in the advocacy for SME, Unity Bank has developed innovative products for SMEs aimed at enhancing greater access to financial services, financial advisory and cluster marketing initiatives.

Participants were of the view that the SME clinic gave practical insights into techniques for creating distinctive brand concept centered on consumers and appreciated the three entities that organized the workshop.

The Chief Technology Officer, Signal Alliance, Mr Uchechi Nwaukwa used the platform to launch CloudGo, an IT product built on Microsoft cloud platform.

As a “solution that enhances communication, collaboration and scales innovation for business becomes a necessity” he further stated that “the product is a results of huge investment in IT infrastructure which helps to overcome upgrade challenges, enhance data protection and disaster recovery challenges faced by small businesses.

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HY ’19: Zenith Bank records improved results with interim dividend of 30 Kobo per share

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In a clear demonstration of its resilience and strong market share, Zenith Bank Plc has announced its audited results for the half year ended 30 June 2019, recording positive growth across key financial metrics, thus affirming the bank’s position as one of the leading financial institutions in Africa. As a testament to its commitment to its shareholders, the bank also announced a proposed interim dividend pay-out of 30 kobo per share.

Gross earnings grew by 3% from ₦322.2 billion to ₦331.6 billion driven by a significant growth of 24% (YoY) in non-interest income from ₦88.6 billion in H1 2018 to ₦109.7 billion in H1 2019. In particular, fees from electronic products increased by ₦17bn (168%) from ₦10bn in H1 2018 to ₦27 in H1 2019, demonstrating significant progress in our retail banking initiatives. This top-line growth filtered through to the bottom-line as Profit Before Tax (PBT) increased to ₦111.7 billion reflecting a 4% growth over ₦107.4 billion reported in H1 2018 with earnings per share (EPS) increasing by 9% to ₦2.83 in H1 2019 from ₦2.60 compared to the prior period.

Between December 2018 and June 2019, the Group’s total deposit increased by 3% with retail deposits growing by ₦267 billion (31%), from ₦861 billion to close at ₦1.1 trillion. Despite the growth in our deposit base, we optimized interest expense leading to a 4% reduction from ₦74.7 billion to ₦72.1 billion due to the Group’s improved funding mix and our profound treasury management skills. Net Interest Margins (NIMs) witnessed a compression from 10% in the same period last year to 8.6% in H1 2019, as a result of the declining yield environment but cost of funds improved from 3.4% to 3.0%.

Our robust risk management ensured that our absolute Gross Non-Performing Loans (NPLs) remained flat. However, the marginal movement in NPL ratio was as a result of the 3% reduction in our loan book from ₦2.02 trillion as at December 2018 to ₦1.95 trillion at the end of the period. We are creatively deploying new retail loan products to ensure we capture a reasonable share of the retail loan market. We remain committed to maintaining our strong balance sheet with liquidity ratio at 74.6% and Capital Adequacy Ratio (CAR) at 25%, ensuring we remain above regulatory thresholds.

Going into the second half of the year, we will continue to consolidate our leadership in the corporate space while our retail banking drive will continue unabated. We expect to see an improvement in economic activities even as we maintain our promise of delivering a unique service experience to our customers.

Consistent with this superlative performance and in recognition of its track record of excellent performance, the bank was recently ranked as the Most Valuable Banking Brand in Nigeria in 2018 by The Banker Magazine. Similarly, Zenith Bank was recognized as the Best Corporate Governance Bank in Nigeria by The World Finance for the sixth time just as Ethical Boardroom, a Europe based Boardroom watchdog reaffirmed this recognition by naming the bank as the Best Bank in Corporate Governance in 2018. Recognition has also come the way of the bank as it was recently named as the Best Institution in Sustainability Reporting in Africa 2018 (SERAS Awards) and the Bank of the Year 2018 (BusinessDay).

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Ojude Oba Festival 2019, proudly sponsored by FCMB

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It was a rich showcase of colours, culture and tradition at this year’s Ojude Oba Festival which held in Ijebu-Ode, Ogun State on August 13, 2019.

The Ojude Oba, (which in Ijebu dialect means, “the king’s forecourt or frontage”, is a major festival in Nigeria that began over 100 years ago. It brings together all sons and daughters of Ijebuland in Nigeria and diaspora for a carnival-like celebration of the traditional, cultural, spiritual accomplishments and other values of the Ijebu nation. During the Festival, various age groups (popularly known as the Regberegbes), indigenes, their friends and associates from far and near – all in their colourful costumes and riding on horses, thronged the palace of the Awujale of Ijebuland to pay homage to him amidst prayers and other fun-filled activities.

Sponsors of the Ojude Oba Festival and foremost Nigerian financial institution First City Monument Bank (FCMB) congratulated the Awujale and Paramount Ruler of Ijebuland, Oba (Dr.) Sikiru Kayode Adetona, chiefs, age groups, all indigenes, friends and well-wishers of Ijebuland on this year’s festival.

The Bank reiterated its commitment to support activities that promote and add value to Nigeria’s culture and heritage which are also capable of boosting tourism, trade and the hospitality sector. FCMB’s participation was as usual grand, exciting and rewarding for the thousands of people within and outside the country that graced the fiesta.

In a goodwill message to the Awujale of Ijebuland, Oba (Dr.) Adetona, the Founder of FCMB Group, who is also the Olori Omo-Oba Akile Ijebu, Otunba (Dr) Olasubomi Balogun, CON, expressed his gratitude to the paramount ruler for his selflessness, distinguished and exemplary leadership for the 59 years he has been the paramount ruler of Ijebuland, which makes him one of the longest reigning monarchs in Nigeria.

In the same vein, the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun, congratulated the monarch for upholding the values of Ijebuland and raising the status of the event over the years. He stated that, ‘’the Ojude Oba Festival is a rallying point to promote the sustainable growth and development of our community. We recognise that celebrating our heritage is an important part of our national identity, a means of educating visitors and future generations about our history and an opportunity to measure our growth, development and sustainability. Hence, for us at FCMB, the Ojude Oba Festival is not just another event. It is a pride to us; being a major platform through which we reaffirm our commitment to the community and promote our nation’s cultural diversity. We will continue to support all activities of the State with focus on the economic and social development. We are committed to the longevity of the Ojude Oba Festival and are proud to be associated with its grandeur’’.

For more information about FCMB, please visit www.fcmb.com

Some pictures from Ojude Oba 2019 are shown below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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