Banks sustain confidence with promo promises
By Babajide Komolafe
The need to sustain customer confidence and loyalty has prompted banks to increasingly embrace savings promotions.
This is reflected in the increasing number of banks conducting savings promotion in the industry. Presently, Diamond Bank, Skye Bank, Finbank and Intercontinental Bank are running savings promo across the country with promises of mouth watering gift prizes ranging from brand new cars to housing in choice area.
Also, First Bank, Union Bank, Fidelity Bank, Oceanic Bank, Mainstreet Bank (former Afribank) and Enterprise Bank (former Spring Bank) have conducted savings promotions in recent time in the industry.
While for some of these banks, the promotions are basically a deposit mobilisation strategy, for others the major reason is to prove to customers and the banking public in general that they are still financially sound and capable of meeting all customer obligation and hence sustain customer confidence.
This is reflected in the statement by Susn Iroche, Managing Director/Chief Executive of Finbank at the recently held final draw of the bank’s savings promo. She said, “Finbank Plc has delivered on all the promises offered to customers under its FinSplash Savings promotion.
“At the flag-off of this promo, Finbank made a promise of ensuring that 17 draws will be held nationwide to produce winners at both the zonal and national levels. We have fulfilled this promise having ensured the successful conduct of 16 draws to date,” she said.
Intercontinental Bank’s The I-Save, I-Win savings promotion is a classical demonstration of the effectiveness of savings promotion in sustaining customer confidence as reflected in the comments and reactions by customers and stakeholders during zonal draws of the bank and customers forum for the Federal Capital Territory (FCT), North Central Regions and South East Regions. The zonal draws have produced three star prize winners and 180 consolatory prize winners.
The star prize winners: Mrs. Adelusi Eniola Bamidele, Mr. Chris Ndubuisi Nwoye, Okudili Emmanuel Eze, an apprentice in Nwewi all emerged winners of the coveted zonal star prize of new Toyota Corolla Car at the end promo draws held in Abuja and Enugu recently.
“I am glad the Bank has overcome its challenges to take its pride of place once again,” said Justice Umaru Kalgo, Chairman Nigerian Law Reform Commission who doubles as the chairman of the Abuja zonal draw/customers forum.
“This confidence stems from the giant strides the Bank has made towards its recapitalisation in recent times. As customers, I want to assure you that the steps taken so far by the Bank, has helped to secure our deposits as well as our investments”, he said.
“I was attending training when the call came in that I have won a car, I could not believe it, but on entering this venue and sighting the car I just fell down”, commented an exited Mrs. Bamidele, a customer of the Bank’s Wuse II Branch, Abuja, who won the zonal star prize of a new Toyota Corolla.
“I have been banking with Intercontinental Bank Plc since 2006, and I want to say this, Intercontinental Bank is a good bank”, she said
Similar affirmation and demonstration of confidence in the bank was expressed at the Enugu zonal draw by the Vice-Chancellor, Michael Okpara University of Agriculture, Umudike, Prof. Hillary Edoga who was also the Chairman of the occasion.
“I have it on good authority that the Bank is even stronger now and that is why we still have all our accounts domiciled in the Bank; we should not be afraid.”, he said and assured that the University would continue to patronise the bank.
In addition to using the draws to choose winners, the bank’s Group Managing Director/Chief Executive Mahmoud Lai Alabi also leveraged on the occasions to appreciate customers for their continued confidence in the banks in spite of its challenges in recent times.
At the Abuja draw he said the event was made possible because of the loyalty and commitment of the Bank’s customers, who in his words; “are the first set of beneficiaries of the Bank’s largesse and promises. This amply demonstrates our sincerity and avowed abiding philosophy in our customers’ happiness at all times.”
Similarly, at the Enugu draws, Alabi praised the steadfastness of the South-East customers in the bank. He noted that the draws were made possible by the commitment of the customers and the Promo, was the Bank’s way of demonstrating its philosophy of bringing Happiness to its esteemed customers. He revealed that the Bank has so far rewarded a total 183 customers in the Abuja, North Central and South East Zones of the Promo Draws.
He explained that the promo is still open to the Bank’s customers in the South West, South South, North East and North West. These remaining regions are expected to produce a total of 248 lucky customers who will either benefit from the Zonal Draws or the National Draws.
