Connect with us

Banking

FirstBank set for exciting engagement with customers at Social Media Week 2019

Published

on

Nigeria’s Premier and foremost financial services provider, First Bank of Nigeria Limited, has announced its sponsorship of the 2019 Social Media Week (SMW), Lagos, scheduled to start on Monday 4 February 2019 and end, 8 February 2019. The 2019 event is themed; STORIES: With Great Influence Comes Great Responsibility”

The yearly event, is a weeklong conference convened to provide the ideas, trends, insights and inspiration to help people and businesses understand how to achieve more in a hyper-connected world. The event features a central stage for keynotes and panels, multiple rooms for workshops, masterclasses and presentations, and an area dedicated to co-working, networking and interactive installations.

The Bank is sponsoring the event for the fourth time and with its participation, the Bank’s digital lounge would once again be activated.  The FirstBank digital lounge provides a platform for engagement between the Bank’s customers and other attendees at the event in a friendly and interactive manner. The lounge also provides a conducive platform to showcase FirstBank’s array of digital centric services notably Chat Banking on WhatsApp; *894# USSD banking; the mobile app, Firstmobile and the FirstBank Agent banking service, Firstmonie amongst others.

Among the planned highlights of the Bank’s participation at this year event is the #FirstBankIdeasChallenge, designed to have participants share their ideas on different banking products, their challenges and suggested approach to resolving specific issues and glitches to tasks provided on the FirstBank facebook page; www.facebook.com/firstbankofnigeria.

A key criteria to participating at the event is for one to like the FirstBank facebook Page and get one’s friends to like the page and vote for the best ideas. The top three winners will get N500,000 each while 25 people will win N20,000 each for liking, and engaging in the campaign.

Socially engage FirstBank on its respective social media handles; www.twitter.com/firstbankngr; www.instagram.com/firstbanknigeria; www.youtube.com/firstbankngr and www.facebook.com/firstbankofnigeria for up to date information on products and services as well as participation in quizzes and games with prizes up for grabs.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Banking

Heritage Bank’s MD calls for more impactful role in banking to aid speedy economic recovery

Published

on

In the quest to aid speedy economic recovery and impactful service delivery to stakeholders caused by macro-economic headwinds and Covid-19, banking sector’s players have been charged to maximize the opportunities by re-strategizing its roles that will address emerging risks.

The MD/CEO of Heritage Bank Plc, Ifie Sekibo made the call during the 47th Quarterly Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) with the theme “Elevating Internal Audit’s Role in the Face of Emerging Risks and Opportunities” held virtually on Microsoft Team’s platform, which was organized and hosted by the Heritage Bank, at the weekend.

Sekibo who was represented by his Executive Director, Jude Monye, whilst addressing internal auditors of banks, inquired from the bankers on the readiness of the Internal Audit function to lend the necessary support in exploiting and maximising the opportunities without impairing their independence.

He, however noted that with the rapid changing developments forced by the pandemic sweep across globe that have upended organisations in every sector of the economy, banking inclusive; internal auditors would notice that their modus operandi are outdated.

To this end, he stated that this was the most auspicious time for Chief Audit Executives to rethink how they perform various aspects of their audit assignments.

Sekibo suggested that auditors must “become versed in cybersecurity, artificial intelligence, data analytics, fraud management, regulatory pronouncements, forensics etc and having equipped himself, present balanced, objective audit reports to Executive Management while striking the right balance between the assurance and consulting responsibilities.”

He further hinted, “Embracing new processes and tools to modernize and maximize the audit function helps not only with the perception of internal audit’s value, but also the reality of its contributions. Opportunities to evaluate include virtual auditing, electronic workflow management, and distance team-building and development.”

According to him, it becomes imperative for audit teams to embrace change, harness it and use this season to strategize on what internal audit can be in the future, whist noting that only Chief Audit Executives that maximize the opportunity to refresh and reposition will make their role more relevant and impactful for stakeholders.

Meanwhile, he commended auditors for their contributions to the industry including inputs made in shaping policy directions by regulators and the fight against fraud and other financial crimes which helped in no small measure in deepening confidence of the banking public.

In the same vein, the Chairman of ACAEBIN, Yinka Tiamiyu, reiterated the need for internal auditors to maximize opportunities of the current challenges facing the industry, as each day brings new developments that directly influence the likelihood and potential impact of banking future.

According to him, there are challenges on our part as Bankers in meeting up with the needs of our customers and the general public, and we must ensure that such challenges are surmounted.

He stressed on the need for regular annual audit plan to be reviewed quarterly to address current events that have significant impacts on the business, whilst ensuring that the key players continuously provide banking services to customers in a convenient and safer way.

“On our part, the need for improvement in service delivery and safety of customer’s funds as we digitalized our product offerings are concerns facing the industry, as such we must not relent in our efforts to get strong authentication mechanisms as we make our services more convenient and easier for Customers.  Banks should strive to find solution to the problems associated with identity theft as we pursue digital products and inclusive banking. This is to ensure that customers are happy with us and complaints minimized,” Tiamiyu urged internal auditors of banks.

Continue Reading

Banking

FBN Holdings posts 56.65% growth in profit in 6 months

Published

on

By Chinyere Joel-Nwokeoma

FBN Holdings Plc on Wednesday announced Profit After Tax (PAT) of N49.5 billion for the six months that ended June 30.

The PAT represented an increase 56.65 per cent when compared with N31.6 billion achieved in the corresponding period of 2019.

Profit Before Tax (PBT) grew by 14.36 per cent to N41.4 billion from N36.2 billion posted in the comparative period of 2019.

FBN Holdings unaudited results released by the company by the Nigerian Stock Exchange (NSE) show that gross earnings stood at N296.4 billion from N280.3 billion in 2019, an increase of 5.74 per cent.

Also, its total assets stood at N7.1 trillion, an increase of 14.9 per cent against N6.2 trillion achieved in December 2019.

Its customer deposits rose to N4.4 trillion compared with N4. 0 trillion in December 2019.

Commenting on the results, Mr Urum Kalu Eke, FBN Holdings Group Managing Director, said they reconfirmed its consistent focus on enhanced shareholder value.

“The H1 (first half) 2020 financial results are impressive and reconfirm our consistent focus on enhanced shareholder value.

“Despite the difficult operating environment, the H1 results demonstrate our resilience and capacity to deliver on long-term ambitions.

“The growth in profit after tax for the period is a testament to the strength of our organisation to continually deliver exceptional services to our customers in these unprecedented times.

“We have been able to achieve this feat by leveraging our agent banking network, innovative e-banking capabilities, and operational efficiency, utilising technology,” said.

Eke said that FBN Holdings successfully divested from the underwriting (insurance) businesses to focus on banking operations.

“We are confident this will enhance greater value to our stakeholders and strengthen the group’s resolve to consolidate its leadership of the banking sector.

“Following the divestment, FBN Holdings injected Tier 1 capital into FirstBank, effectively increasing its capital adequacy ration to 16.5 per cent.

“This provides a comfortable buffer against regulatory requirements with the potential to support any emerging business opportunities.

“Looking ahead, we remain cautious, but we are confident that our business is fundamentally strong to withstand any future challenge toward enhanced performance,” he said.

Also commenting, Dr Adesola Adeduntan, FirstBank Chief Executive Officer, said the commercial banking group, during the period, increased its gross earnings and PBT.

“Over the period, the commercial banking group increased its year-on-year growth in gross earnings and PBT by 6.1 per cent and 9.2 per cent respectively, despite the economic shutdown and varying degrees of challenges in the operating environment.

“Notwithstanding, we have continued to provide services to our customers with minimal disruption in a safe environment, supported by seamless transactions through our increasing agent banking network and digital platforms (FirstMobile and USSD).

“Furthermore, continuous focus on operational efficiency remains a priority, as improvement in non-performing loan ratio has further been sustained.

“As the economy reopens gradually in Nigeria and other key markets, as in the rest of the world, we are adopting a pragmatic approach with optimism on propelling our performance for enhanced profitability through customer-led innovation and disciplined execution,” Adeduntan said.

Continue Reading

Banking

UBA Reiterates Importance of Small Businesses, Hosts MSME Workshop

Published

on

www.securenigeria365.com

In its continuous bid to support the growth of Micro Small and Medium Enterprises(MSME) and equip them with the necessary tools aimed at strengthening and sustaining their businesses, Pan African Financial Institution, United Bank for Africa (UBA) Plc is set to organise another MSME Workshop for entrepreneurs.

The workshop which will hold on Wednesday via Microsoft Teams, will host professionals who will share their experiences and give essential tips to MSME and business owners on how to their businesses to the next level.

This Workshop which will be in two separate sessions, will specifically target financial record keeping in business which has been established as one of the major challenges that business owners face and it promises to be an eye-opener to participants.

The Founder, Accounting Hub, Chioma Ifeanyi-Eze, will take the first session as she gives insights and shares practical knowledge on Bookkeeping and Accounting Basics for Small Businesses, while in the second session, UBA’s Group Head, Tax Management, Emeka Amadi, will take participants though practical steps om Tax Management for Small Businesses.

UBA’s Group Head, Consumer and Retail Banking, Jude Anele, who spoke on the bank’s deep passion to help small businesses, explained that as the engine of any developing economy, MSMEs should be armed with the necessary tools that will help galvanise their businesses, adding that this necessitated the regular MSME workshops organised by the bank to assist both its customers and non-customers to boost their businesses.

He said, “UBA is committed to the overall growth of its customers beyond banking services, and the bank’s passion is hinged on ensuring that customers and entrepreneurs run businesses that can stand the test of time with the knowledge and experience required to take their businesses to the next level.

“Because of our interest in Businesses and customers, we conceptualised the SME workshop to fill the existing gaps observed in businesses thus assisting them to learn new ways of doing business and how to package their businesses for increased patronage,” Anele noted.

UBA’s Group Head, Marketing & Customer Experience, Michelle Nwoga, said the seminar is open to all business owners and leaders across Nigeria reiterated its important because of the long-term impact which range from strengthened confidence, skills, knowledge, and resources.

Participants who register for the Teams session here, will be trained in record keeping, cost reduction, stock compiling, financial and taxation planning, maximising opportunities, financial planning and projections.

Nwoga explained that the bank is on the constant look-out for top business personalities who are able to share their growth strategies with other upcoming business owners, adding, “Our business leaders for this workshop are experienced in every sense of the word and willing to share insight with others on how to grow their business.”

Emeka Amadi is a seasoned Chartered Accounting and Tax professional with14 years’ experience. He has facilitated several seminars and training to Finance professionals and sensitising SMEs on the importance of Tax and Accounting function in business value creations.

Chioma Ifeanyi-Eze who is the Founder, Accountinghub, a tech-accounting firm, is a Chartered Accountant. She is a recipient of several awards, both academic and entrepreneurial, as well as an amazing speaker and writer.

Kindly register: http://bit.ly/UBA-MSME-Worskhop-Registration

Continue Reading





FOLLOW US ON TWITTER

Trending