By Peter Egwuatu

Local shareholders and customers of First City Monument Bank (FCMB) Limited have expressed their support towards its management drive to build a valuable franchise in the retail space. The center point of attraction includes the firm’s innovative products and service offerings that resonate with the needs and lifestyles of the market with an excellent customer service strategy that is currently generating customers’ commendations and accolades.

•Mr. Ladi Balogun, MD, FCMB

Some of the shareholders and customers who spoke to Vanguard stated that the s conscious drive by the bank to carve a niche for itself in service delivery can be seen in its team of friendly, courteous and professional staff carefully positioned across the bank’s branches nationwide.

According to Mr. Livinus Akanda, a customer of FCMB “They are usually willing to go the extra mile to meet the needs of their existing and potential customers. Added to this is the strategic location of the Bank’s over 220 branches nationwide and its fast growing portfolio of alternate channels, which are designed to provide prompt and convenient banking services, while promoting financial inclusion.”

Group Managing Director and Chief Executive Officer of First City Monument Bank (FCMB), Mr. Ladi Balogun was recently quoted to have assured  ‘’We will remain focused on improving operating efficiency, whilst also continuing with our steady customer acquisition drive and consolidation in alternate service channels in order to provide a more consistent and convenient customer experience. Overall, we are confident our progress will be sustained, as we continue to grow our market share, and improve our margins and efficiency ratios”.

Indeed, these developments have impacted significantly on the profile of FCMB helping the Bank to consolidate its position as the largest retail lender in the country, granting over 240,000 loans a year. The corporate players – telecoms, oil and gas, manufacturing, agribusiness and allied firms, among others are also constantly being financed by the Bank as part of its support for the economic revival and growth of the country.

In the same vein, the Bank’s customer base has been on the rise; moving from 1.8 million in 2013 to 2.5 million in 2014 with a target to further grow this to 4 million by the end of this year, 2016.  FCMB now has 689 Automated Teller Machines (ATMs), 12,000 Point of Sale (PoS) terminals and 71 agent banking outlets (with a plan to grow to 800 agents), across the country.

On product offering, FCMB has an array of innovative products that cuts across socio-economic and demographic segments. These products (current and savings accounts), which are easy to open and affordable to operate, include nairawise, kids account, Flexx account, (a youth product that meets the needs of this very important segment of the population) as well as the e-savings account.