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Oceanic Bank customers pledge support to new management

A CROSS section of customers and key stakeholders in Oceanic Bank International Plc have expressed their support for the bank’s new managing director, John Aboh and his management team for their repositioning efforts so as to sustain the bank’s leading position in the industry. They pledged their support at a special interactive meeting with the new Managing Director held in Abuja. The meeting is the first in the series lined up by the new Chief Executive to meet with key stakeholders in the bank.

Commending the new management for the proactive measures being taken to recover debts and restore stakeholders’ confidence, the customers expressed their readiness to offer useful suggestions that would help the bank in achieving its objectives and promised to spread the good news to the banking community in the Federal Capital Territory (FCT).

Earlier, Aboh in his comments commended the customers and stakeholders of the bank for their loyalty adding that all depositors’ funds in the bank are safe. He added that the bank would not stop lending to local businesses so as to stimulate national growth and development. He said “As we know, Oceanic Bank is a project bank as can be seen in the number of projects being funded by the bank, the new management is also determined to support responsible local businesses, by so doing more jobs would be created  and poverty alleviated”

According to him, the bank will continue to lend to customers that meet set lending criteria emphasizing that credits will continue to be granted using well structured and improved process. “The bank’s lending activities will continue but all loan applications will follow due process. If a loan application meets our risk acceptance criteria, it will be granted” he said.

Meanwhile the new managing director of the bank in his maiden meeting with staff in Abuja assured them that the bank is stable adding that new management was brought in to strengthen corporate governance, recover non-performing loans and grow the business.

He said: “Let me reassure you that the CBN intervention is an essential building block for generating the right environment for staff and customer confidence to thrive. CBN’s action is a normal practice in the global banking system, which follows the current pattern in Europe and America, where the economic meltdown has had an adverse effect on the banking sector.”

According to him the new management comes with the following mandate: to entrench good corporate governance, evolve a robust risk management framework, aggressively pursue the recovery of non-performing loans, clean up the bank’s balance sheet, taking the business to the next level. He said that the future of Oceanic Bank is very bright as the bank has been recording increasing inflows in the form of deposits even as it has been strengthened by the apex bank intervention.


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