The Analyst (Monrovia)
27 October 2009
The First International Bank has launched its new logo and a Micro-finance scheme for market women in Monrovia. Speaking Monday during the launching ceremony held at the FIBANK Head Office on Broad Street, the Bank's Chairman, Chuckwu Johnson said, the launching of the logo is part of a larger rebranding and repositioning campaign.
Mr. Johnson disclosed that the Central Bank of Liberia has already approved the new logo, and is now known as the first International Bank (FIBANK). According to him, the move is helping them to create a new identity and is been used in several other African Countries, and that the decision to change the logo was a group consensus which reflects the expansion, dynamism and the continent's wide acceptance of the First International Bank (FIBank) brand.
Mr. Johnson indicated that they were also launching today a new initiative, a micro-finance scheme for Liberian Women, particularly those involved in agriculture and trade activities. He noted that they have already met several of these women on their market tables at meeting centers in conjunction with their superintendents, and they have explained to them the modalities for these women to work out.
Mr. Johnson added that basically, they are lending; This means that they lend to the group and the group in return, disburses to individual members. While the repayment is done through the group and in the event of default by any member, the group pays that that way you usually have 98% to 100% repayment rate, he averred. He said it anticipated that the micro-finance scheme will bring support to government's Poverty Reduction Strategy.
The FIBANK Chairman reiterated that they have also received approval from the Central Bank of Liberia to open new branches in Sinkor, Clara Town in Bushrod Island, Duala and Ganta immediately and there after, he added, they are very grateful to the CBL for its supportive role and strict regulatory oversight to the banking sector and the Liberian economy as a whole. The occasion was attended by the Nigerian Ambassador to Liberia, H.E. Ebenezer A. Adigun and many others.
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