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FIRSTBANK WINS BEST MOBILE BANKING APP AND FASTEST GROWING RETAIL BANK AWARDS

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First Bank of Nigeria Limited has been named 2019 “Best Mobile Banking App” and “Fastest Growing Retail Bank” winner  by Global Business Outlook. The Global Business Outlook Award recognises and rewards excellence in business in companies across the world, both in the public and private sectors. The award rewards innovation, creativity and the drive to create value.

FirstBank earned the Fastest Growing Retail Bank recognition because of its leading role in promoting financial inclusion in the country, a drive which has resulted in its 44,000 Agent Banking network designed to complement the provision of bespoke financial services at its over 750 branches nationwide.

It also won the Best Mobile Banking App award thanks to its Firstmobile banking app’s capability at performing a wide range of financial transactions in a safe, adaptable, futuristic and efficient manner. The user friendly app is widely renowned for its ease of navigation and state of the art security features to mitigate risk against fraud.

In the course of 2019, FirstBank bagged numerous awards across various areas of its business operations. The awards comprise Women Empowerment Category – Sustainable Banking Awards by CBN Bankers Committee, Best Private Bank in Nigeria 2019 by Global Finance Magazine and World Finance Magazine respectively; Best Process Automation Initiative, Application or Programme by Asian Banker International Excellence in Retail Financial Services; Best Banking Brand Nigeria 2019 by Global Brands Magazine; Best Retail Bank in Nigeria by Global Banking and Finance Review and Asian Banker International Excellence in Retail Financial Services Awards respectively; Cashless Driver: Highest Volume in Bill Payments and Highest Transaction Volume in Real-Time Payments by CBN Electronic Payments Incentive Scheme (EPIS) – Efficiency Awards; Long Service Corporate Award by Nigerian Economic Summit Group; Best Financial Inclusion Program – Nigeria 2019 and Bank of The Year – Nigeria 2019  by International Investor, amongst many others.

Speaking on the awards, Folake Ani-Mumuney, the Bank’s Group Head, Marketing & Corporate Communications said, ”We appreciate the recognition of these awards by the respective awarding bodies. The awards are dedicated to all our customers across the globe as their continued patronage of our services is appreciated. We remain steadfast and would not rest on our laurels at rendering bespoke financial services tailored to meet the financial needs of our valued customers, irrespective of where they may be.”

 

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BUSINESS

Union Bank Distribute N15m To Innovative Customers

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According to its Head, Corporate Communication and Marketing, Ogochukwu Ekezie-Ekaidem, who represented the CEO, Emeka Emuwa, at an online press briefing at the weekend, for four weeks, the bank selected 10 of the most inspiring stories to share and reward of the selected stories with N250,000 to support the work which the promoters are doing to RISE above the pandemic.

On its customer experience initiative she explained that the objective is “to shine the spotlight on you, our customers, who are doing all you can to rise above this pandemic. You are being innovative, charitable, creative and resourceful and we want to hear your story.”

She also disclosed that the remote working arrangement instituted in the wake of the pandemic has been a success as the lender continues to deliver value to stakeholders.

Ekezie-Ekaidem said that since March 2020, over 70 per cent of the bank’s workforce have been working from home, stressing that Union Bank’s branches have remained open and fully operational to serve customers during these Covid-19 crises.

Ekezie-Ekaidem added that the bank has essentially activated its flexi-workpolicy for those employees who could still perform their duties remotely.

She gave the assurance that the bank would continue to assess the situation and make necessary adjustments as events unfold.

Besides, she said that the bank branches were now operating under a heightened hygiene protocol, all in a bid to ensure safe banking halls for all.

According her, when the world started to recognise that the COVID-19 is a big issue, Union Bank set up a taskforce headed by the managing director and this helped Union Bank to stay ahead of the curve.

Recently, the bank donated N300million as part of its multi-pronged approach to tackle the spread of Coronavirus in Nigeria.

The bank also contributed N250 million into the fund set up by the Private Sector Coalition Against COVID-19,

In addition, the bank also made a further donation of N50million to the Lagos State Covid-19 Emergency Food Response programme which was set up to support low income families who will be directly impacted by the state-wide restrictions in place to limit the spread of the disease. Lagos State currently has the highest number of COVID-19 cases in Nigeria.

Emuwa had earlier said: “The fight against Covid-19 requires all hands-on deck with close collaboration between the public and private sector. Union Bank is committed to supporting Nigeria’s response to ensure the country avoids a pandemic”.
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BUSINESS

Ecobank Group appoints Alain Nkontchou as Chairman

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The leading pan-African banking group, Ecobank  is delighted to announce the appointment of Mr Alain Nkontchou, a Cameroonian and Independent Non-Executive Director since 2015, as Board Chairman of its holding company, Ecobank Transnational Incorporated (ETI), with effect from 30 June 2020.

In accordance with ETI’s Articles of Association, Mr Emmanuel Ikazoboh, a Nigerian, ended his six-year tenure as Chairman on 30 June 2020 having reached the retirement age of 70.

Alain Nkontchou said: “I am honoured to be appointed as Chairman of Ecobank Transnational Incorporated. Having served on its Board since 2015, I have seen Ecobank’s resilience and its proud history, built on strong foundation to secure the Bank’s future success.  I look forward to working with the Board and Executive team as we continue our journey ahead and I know that we are well-placed to navigate through the current environment and set the standards in financial services for our customers across Africa. I would also like to express my thanks to my predecessor, Mr Emmanuel Ikazoboh, for his leadership of the Board and to wish him all the best for the future.”

Ade Ayeyemi, Chief Executive Officer of Ecobank Group, said: “The entire Management of the Group and I warmly welcome Mr. Nkontchou as Group Chairman. We will give him and the Board our continued full support in ensuring the realisation of the strategic imperatives of the Ecobank group. Mr. Nkontchou has always utilised his wealth of experience on the Board and we look forward to his successful and strong leadership”.

Alain Nkontchou is the Managing Partner and co-founder of Enko Capital Management LLP, an asset management company based in London and Johannesburg, which focuses on African investment opportunities.

Mr Nkontchou was an advisor at Laurent Perrier champagne, having been a Non-Executive Director from 1999 to 2009. He was Managing Director of Credit Suisse’s Global Macro Trading Group in London between 1995 and 2008 and also at JP Morgan Chase & Co. in the same capacity. Between 1989 and 1994, he was with Chemical Bank in Paris and New York, where he became Vice- President, Head of Trading and Sales. Mr Nkontchou has a track record of business success, having generated significant dollar revenues for each of these top tier institutions. He has an MSc in Electrical Engineering from Supélec and P.M. Curie University, Paris, and an MSc in Finance and Accounting from ESCP (Ecole Supérieure de Commerce de Paris).

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Capital Market

Stock market gains N15bn on MTNN price rally

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The key market indices of the Nigerian Stock Exchange (NSE) on Friday rebounded by 0.12 per cent following price appreciation achieved by MTN Nigeria Communications.

The News Agency of Nigeria (NAN) reports that MTN Nigeria Communication dominated the gainers’ table with N1.10 to close at N16.10 per share.

Vitafoam Nigeria followed with 26k to close at N3.85, while International Breweries added 25k to close at N3.85 per share.

GlaxosmithKline gained 20k to close at N4.80, while PZ Cussons appreciated by 15k to close at N4.50 per share.

Consequently, the All-Share Index which opened at 24,276.56 rose by 29.80 points or 0.12 per cent to close at 24,306.36.

Also, the market capitalisation of listed equities inched higher by N15 billion or 0.12 per cent to N12.679 trillion from N12.664 trillion achieved on Thursday.

On the other hand, Guaranty Trust Bank topped the laggards’ table, dropping 30k to close at N22.45 per share.

United Bank for Africa trailed with a loss of 15k to close at N6.25, while Zenith Bank lost 5k to close at N16.70, per share.

ABC Transport dipped 5k to 51k, while FBN Holdings also declined by 5k to close at N5.20 per share.

An analysis of the activity chart indicates that Sterling Bank was the most active, exchanging 17.66 million shares valued at N22.63 million.

Zenith Bank followed with an account of 7.47 million shares worth N47.06 million, while Transcorp sold 7.41 million shares valued at N4.69 million.

Fidelity Bank exchanged a total of 6.20 million shares worth N11.11 million.

In all, the volume of shares traded closed lower with an exchange of 131.63 million shares valued at N899.49 million in 3,044 deals.

This was in contrast with 192.08 million shares worth N2.47 billion exchanged hands in 3,833 deals on Thursday.

 

(NAN)

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