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Intercontinental Bank tasksdebtors on loans repayment

By Michael Eboh
Following the sacking of its Management and injection of fresh funds into its operations by the Central Bank of Nigeria (CBN), Intercontinental Bank Plc has called on its debtors to settle their obligations to the bank so as to enable the bank beef up its liquidity position.

According to a statement by the Acting Managing Director of the bank, Mr. Joseph Ajewole, the bank which has commenced its debt recovery drive has recorded significant success in that regard, s some of the debtors have started paying up their loans.

He said, “I will like to inform u that we have recorded significant success in the area of debt recovery, as some of the delinquent debtors have started paying down. Many have visited us with satisfactory pay_down plans. We, therefore, use this opportunity to call on the remaining one to come forward and honour their obligation to the bank, as it is not our objective to embarrass any customer but we are out to replenish the liquidity stock of the bank, so that we will be able to do more business with them and effectively contribute our quota to the growth of our national economy.”

He disclosed that the bank had also undertaken a number of activities aimed at assuring its customers of the safety of their investments.“The task of making the bank a favourite brand again has just begun and I can assure you that all hands are on the deck to deliver results on all fronts. I have been encouraged seeing how the various levels of the banks’ staff have risen_up to the challenges.

I have seen a clear demonstration of commitment and determination from all the staff of Intercontinental Bank in managing the immediate fail-out of the CBN intervention. “We have moved into action as a team since last weekend and I can assure you we have seen the first sign of success in meeting some immediate challenges which, primarily, is managing deposit customers’ reactions. We had anticipated panic withdrawals throughout the week particularly on Monday, August 17, 2009 being the first working day after the CBN pronouncement.

However, nothing of such occurred in any of the 350 branches of Intercontinental Bank thus indicating a high level of customers’ confidence in the bank.

“In every branch, customer services went on smoothly as regular flows of pay and receipt was recorded. We have reached out to most of our big ticket depositors and they have demonstrated good understanding of the situation with assurances of their continued patronage.
“Please, rest assure that Intercontinental Bank remains a going concern with potentials for re_engineering its brand equity against the backdrop of the new developments in the banking industry.”


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