Leadership (Abuja)
Justus Nduwugwe
12 October 2008
Abuja — The managing director and chief executive officer of FinBank Plc, Mr. Okey Nwosu, has said that the rebranding of the bank was a deliberate strategy to make the bank's brand bolder, bigger and reinvigorated to face the challenges of the market place.
The FinBank boss made this known last Wednesday, on the occasion of the presentation of the FinBank brand identity to stakeholders in Abuja.
He presented to the highly enthusiastic audience, "a brand that is more vibrant, flexible, bolder and stronger. A brand that will leverage on our legacy of technocentricity; a brand that is connected, engaging and confident".
According to him, "In the life of individuals and organisations, there are defining moments; moments that define the course of history. September 22, 2008, marked such a moment for us in this bank as we unveiled our new identity in Lagos".
He observed that the consolidation exercise in the banking industry came with its own challenges, adding that FinBank has had its own share of the challenges which have exposed and strengthened it to take up greater challenges in the evolving market.
"Having gone through the post-consolidation challenges, it was imperative for us to take giant strides that will position us in the league of the top banks in Nigeria", he added.
Going down memory lane, he disclosed that the first step was to go to the capital market to raise needed capital, observing that competition in the market place is getting stiffer and a bank can only compete favourably if it is properly capitalised.
He noted with glee that the Public Offer was significantly oversubscribed, which was a demonstration of customers' confidence in FinBank. "With the new brand, we are ready to launch into new markets and chart new product directions", he assured.
The managing director also stated that FinBank recently recently completed the acquisition and takeover of a medium sized Gambian Bank, AGIG.
"Our acquisition of AGIB is a strategic move on our part and signals the major focus we have adopted in our growth objectives. "
"On the local scene, we have diversified into Mortgage Banking, by also acquiring one of the foremost Mortgage Banks in Nigeria, MGSL. We are poised, more than ever before to delight our customers by giving them a new banking experience. This is the face of our new identity".
Toasting to the success of the Bank, the governor of Bauchi State and one-time managing director of one of the legacy banks of FinBank, Alhaji Issa Yuguda, challenged the bank to get down to the grassroots to serve the people. He expressed optimism that with the proactive and sound management team at the helm of affairs of the bank, it would surely continue to progress and make profit for its teeming shareholders.
Read comments. Write your own.
Copyright © 2008 Leadership. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
