Connect with us

Banking

#FirstBankIssaVybe is a case study for any brand – Folake Ani-Mumuney

Published

on

www.securenigeria365.com

In ecember 2018, FirstBank promoted a social media campaign tagged #FirstBankIssaVybe, #DecemberIssaVybe. It involved massive ticket giveaways to premium events in Lagos including the FirstBank sponsored Burna Live. Over 500 mostly VIP tickets, which cost from N15,000 to N50,000 – were given away and money raised for Down Syndrome when tickets to Burna Boy’s concert were slashed to N125.

The Group Head, Marketing and Corporate Communications of FirstBank, Folake Ani-Mumuney explains why #FirstBankIssaVybe was a success and what other brands can learn from it.                                                                                                                            

What is the concept behind #FirstBankIssaVybe and #DecemberIssaVybe?

#FirstBankIssaVybe was a variety performance for us. FirstBank, which has always been your partner in enabling your dreams, takes not just your financial well-being into consideration but your entire well-being by enabling opportunities for families to come together to celebrate. We supported concerts, plays, fashion, food etc. In all of those different expressions, we were making sure we supported our heritage, the value systems we believe in and created opportunities for families to bond across generations. The carefully curated experiences spoke to our ethos, what we believe in and what Nigerians would appreciate. We were not just concentrated like some other brands on specific areas, or just one name; we were true enablers across the raft, and offered variety

Why sponsor events in arts and entertainment?

We are making sure we look at so-called alternative jobs. That’s what the First and Arts platform does, beyond being the repository of our values and heritage which we mustn’t lose. We are creating jobs through entertainment and contributing to the GDP of Nigeria. In the last statistics which I think was in 2017, the creative industries contributed a good 2% to the GDP. They can contribute a lot more. We must diversify the economy and this is one of the reasons we enabled the arts and entertainment.

Why just concerts in Lagos and not nationwide?

With our partners, #DecemberIssaVybe, we were trying to curate across the country as a whole. In previous years we were fortunate enough to identify one or two events we knew were going to take place in other cities. Waka the Musical in 2017, I believe, was taken to Abuja but in 2018, Queen Moremi the Musical which was from the same production company was not. If it were, we definitely would have supported it. We were not as fortunate (as in previous years) in identifying partners who understood what we were trying to do. I think, increasingly, we would like to see a situation where, across the country we see as much (events) as we see happening in Lagos. A good 80% of the events during this past Christmas were Lagos-centric.

How do you make it up to your customers and followers in other parts of Nigeria?

On events outside Lagos, in the past we have sponsored the Igue Festival in Edo State, and for a number of years, we were headline sponsors of the Calabar Carnival in Cross River State. We still make sure our branch within that region actively participates in the carnival even though we are no longer headline sponsors. Some of these events may be powered by branches in those regions and not spearheaded from the centre but we do make sure everybody feels us

What was your criteria for brands (eg: Burna Boy) and events you chose to partner with?

We have demonstrated we have a knack for spotting trends in the creative industries. We identify those we wish to partner with for that year and they end up being the biggest names. As the foremost bank, based on our experience overtime, it should be expected. So any time you see us beginning to push a play or an alternative expression like spoken word or fringe theatres like Freedom Park, just know that person or trend is going to blow.

Would you regard IssaVybe as a success and what do you owe your success to?

It was a tremendous success because we reached a lot of our customers and had amazing feedback from social media. The engagement we had is worthy of a case study for any brand. I have an amazing team. And how they did all of that the whole of Deecember: up all night at the concerts and plays, and then the next day, they kept on going. I just think all of that was the vybe.

Going forward, how does FirstBank hope to capitalise on the publicity gained from IssaVybe?

It was not a publicity stunt. It was actually supposed to be something that would deepen capacity and appreciation of the various genres that I talked about. What we did was cross-pollination: For those who ordinarily would go to concert, when we engaged them, we were also telling them, “Don’t do only concerts; do financial literacy as well.” It was really about making sure we opened people up to new experiences. FirstBank has become the defining curator for December experience

Do you have other promos planned for each month or is this just a one-time thing?

Yes, we do. It is not that we have just started but we have always done. Throughout the course of the year, there’s a very rich and robust calendar of different things.

Will these be tied to your 125th anniversary?

This year we are definitely going to be celebrating 125 years. If you look globally, how many countries can claim and boast of having an institution over a 100 years. We want Nigerians to be proud to say actually, we have a home grown brand that stands tall with other companies out there at 125 years. We are a bank and a brand that has demonstrated, within its DNA, it knows how to reinvent itself and remain relevant through all ages. We are still at the forefront of technology and innovation through all the things we do. Very true to our name, we have introduced a lot of things first. I think there’s reason to celebrate 125 and everything we do this year would be around it.

Why the sudden push for a young, hip brand image –through #FirstBankIssaVybe for example?

What we push for is to remain around for the next 125 years. It is not necessarily about appearing cool but enabling everybody to succeed, young and old alike. We are a bank for all generations.

Continue Reading
Advertisement
Click to comment

Leave a Reply

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

Banking

FirstBank Offers Support To SMEs In Education Sector Through The Pandemic

Published

on

By Chinyere Nwokeoma, NAN

First Bank of Nigeria Limited has offered to give financial support to Small and Medium Enterprises (SMEs) in Education Sector to cushion the effects of the COVID -19 pandemic. Mr. Bankole Adediran, Head, Transaction Banking Products, FirstBank, made this known at the Bank’s SMEConnect webinar with theme: “Managing Your School through the Pandemic: Engagement and Retention Strategies”.

Adediran said that the Bank was ready to partner with SMEs in the education sector through the period of the novel coronavirus pandemic to sustain their businesses.

“FirstBank, as an institution, is very passionate about education, and will continue to support the sector,” he said.

He said that the Bank would continue to reinforce its leading role at enabling the growth of the educational sector in the country.

Adediran said that the Bank had an array of financial products that could be accessed by SMEs in the educational sector in the period of COVID -19.

He said SMEs in the sector could key into FirstEdu Loan targeted at private nursery, primary and secondary schools to assist the schools in achieving their desired growth in medium and long terms.

According to him, the product provides funding advancement of up to N20 million for schools with a minimum of 100 students with school fees collection domiciled at FirstBank.

Adediran said that, with the product, school owners/proprietors could stay ahead to make learning easy and conducive for students.

He said the Bank had launched various interventions and initiatives to support the sector to navigate through challenges occasioned by COVID -19.

He noted that FirstBank recently launched an e-learning initiative aimed at reaching out to one million students across the country to ensure they would be academically engaged while at home.

Adediran also said that the Bank supported 10 universities and three secondary schools across the country with major infrastructure projects.

He added that the Bank donated 20,000 e-learning devices to the Lagos State Government to promote online learning for students in the public schools.

Adediran urged schools must learn from the COVID -19 pandemic by embracing automation to plug leakages in the sector.

Mrs. Folasade Adefisayo, Commissioner for Education, Lagos State, who was a panelist at the webinar, commended the Bank for donating 20,000 devices with six months data, to the state for e-learning.

Adefisayo said the state reached out to many companies for support at the wake of the pandemic and that FirstBank came to its aid.

She disclosed that all the schools were not prepared for the situation, noting that most children in public schools did not have device and data for online learning.

“This pandemic has been a terrible thing, and one lesson from it is that we have not invested enough in solutions we can deplore at a time like this,” Adefisayo said.

She said that the pandemic had forced Nigerians to be more creative and innovative, adding that schooling would no longer be the same again.

Adefisayo called on teachers to change their teaching and learning strategies, saying that COVID -19 had changed learning.

Also, Dr. Yomi Otubela, President, National Association of Proprietors of Private Schools (NAPPS), said the association had responded greatly by interfacing between government and its agencies since the beginning of the pandemic.

Otubela said the Central Bank of Nigeria was working out modalities for palliatives for schools and teachers who had not been receiving salaries since the pandemic started.

He noted that there had been an increase in rape, kidnapping and robbery as a result of COVID -19.

Mr. Wale Abioye, Team Lead, Customer Practice in Management Consulting (KPMG), said the pandemic had impacted negatively on many sectors of the economy, especially education.

Abioye highlighted some of the negative impacts of the pandemic to include financial/economic, structural, social and policy challenges.

He said many SMEs in the educational sector could be out of business due to the pandemic, thereby increasing unemployment rate.

Mr. Babatunde Vaughan, Education Lead, Modern Classroom, Microsoft Nigeria, said the company had introduced a lot of products to make online learning easy and interesting.

“COVID -19 is a very unique period for everyone, change has come and we will continue to experience change.

“We must be more proactive than reactive,” Vaughan urged.

Continue Reading





FOLLOW US ON TWITTER

Trending