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Intercontinental, Oceanic banks commend customers loyalty

By Babajide Komolafe
Intercontinental    Bank PLC and Oceanic Bank have  commended their customers  for their loyalty and continued patronage in spite  in the face of the challenges confronting the two banks.

the two banks were among  the five banks affected by Central Bank of Nigeria’s intervention last weekend. The intervention fuelled   anticipation of  panic withdrawals on from the five banks last week especially on Monday August 17, 2009 being the first working day after the CBN pronouncement. However there was no noticeable mass withdrawal in any of the branches of the banks  indicating loyalty and continued patronage on the part of customers.

In the  branches of the banks customer services was smooth and calm as regular flows of pay and receive was recorded.   Commenting on this, Ag. Managing Director of Intercontinental Bank, Mr. Joseph Ajewole expressed deep appreciation to the customers for their patronage, steadfastness and support during this challenging time.

While reviewing developments in the last few days after Central Bank’s intervention solicited customers continued co_operation stressing that Intercontinental Bank has remained a strong financial institution with capacity to meet depositors’ obligations.

He assured customers that the bank is capable of meeting its obligations as and when due. “We encourage our customers to continue to do business with the bank as management is committed to the safety of depositors’ money”. He affirmed that apart from the N100billion injected by the CBN the bank was on firm liquidity position to absorb customers demand.

According to him, the new management is committed to building a strong financial institution that will contribute to the growth of the national economy adding that the CBN intervention in the five banks which included Intercontinental was to guarantee safety and stability of the banks.

He stated 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.

Similarly, Managing Director and Chief Executive of Oceanic Bank International Plc, Mr. John Aboh expressed his appreciation to the bank’s customers for keeping faith with it in the face of recent developments in the banking industry.

He said the management of the bank was impressed with the loyalty and confidence by the customers, saying “we are indeed happy that our customers did not take to any panic measure but went about their normal transactions as usual.”

He enthused that explained that the customers have remained solidly behind the bank and have even offered useful suggestions on how to move the bank forward.

Mr. Aboh assured the customers that the new management will reciprocate the good gesture by working round the clock to exceed stakeholders’ expectations by turning around the bank to deliver superior value to its customers and profit to the shareholders in a short period of time.

The Chief Executive Officer also stated that the bank will strengthen its well known and time tested tradition of quality service delivery and infra structural development through public private partnership adding that Oceanic Bank remains a leading light in infrasturture development in the country.

Mr. Aboh had during his maiden press briefing in Lagos told newsmen that Oceanic is a big project bank alluding to the Murtala Mohammed Airport 2 project and Kano economic City, two gigantic projects being financed by the bank along side others.

“We have said times without number and we are still saying it that Oceanic bank is more that capable to fulfil its obligations to its numerous customers and that the CBN intervention was meant to strengthen it to further increase its capacity to serve the customers more than ever before.”

Aboh disclosed that Oceanic Bank would still grant credit to its customers, saying “yes, the bank’s lending activities will continue because it will engage in its usual banking services, but all loan applications will follow due process. If a loan application meets our risk acceptance criteria, it will be granted.

According to him, the new leadership is committed to introducing new initiatives, ideas, products, unique services that will enhance the profile and the ability of the bank to add greater value to its esteemed customers, both individual and corporate.

“For those who know Oceanic bank very well; the founding fathers laid a good foundation for it and our mandate is to grow the business of the bank and take it to the next level. As for us in the management, we will not allow the bank to go down, what we can do is take it to higher and make it more competitive not only within the country but also within the African region”, the bank boss said.

Aboh described the change in management as being in the interest of the customers and all the stakeholders pointing out that the concern for the safety of deposits by customers and other stakeholders was the motive behind the re_engineering processes going on in the banking industry. He promised that the bank management will give the CBN maximum cooperation in the bid to retrieve all the bad loans incurred by the bank in the past.


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