Alabi, Intercontinental Bank MD resumes

The substantive Chief Executive Officer appointed by the Central Bank of Nigeria (CBN) for Intercontinental Bank
Plc, Mr. Mahmoud Lai Alabi, resumed Monday at the bank’s corporate headquarters in Victoria Island, Lagos.

Alabi, in his first meeting with the top management of the Bank, announced that the worst was over, stating that
Intercontinental Bank has remained a very solid brand. The bank, according to him would be building on the
existing successes and strengths to achieve better performance.

On the strategic focus of the Bank in the immediate term, Mr. Alabi said loan recovery is the topmost priority
which would be pursued very aggressively with the support of both CBN and the law enforcement agents.

The Bank would continue to grow its deposit base while restoring profitability quickly.  He also stated that top
quality customer services delivery shall be sustained.

He said with what he has seen so far Intercontinental Bank was already overcoming whatever set back it had and it
is already on track towards impressive performance.