Tag: FCMB

  • FCMB marks Customer Service Week

    First City Monument Bank (FCMB) Limited has rolled-out series of exciting and rewarding initiatives to further enhance customer experience during  this year’s international customer service week, which will hold from October 3 to 7.

    The theme of this year’s celebration is: ‘’Service Champions’’. It recognises that delivering excellent service is only possible with a team of dedicated professionals working together.

    In a statement, FCMB said celebrating this year’s customer service week promises to be memorable going by the number of activities lined up. They include visit to customers by the management of the bank, the provision of  gifts and  edibles for walk-in customers during the period, a treasure hunt contest, special birthday celebration for kids account holders, free tickets to watch  movies at the new FilmhouseiMax in Lekki, Lagos. E-mails and messages will also be sent to customers to appreciate them.

    Commenting on the Customer Service Week, the Group Head, Continuous Improvement and Service Management of FCMB, Moronfolu Fasinro, said: ‘’Our involvement in this annual event is another way to re-emphasise the importance of our customers across all segments of our business. We always recognise their contributions to the success story of First City Monument Bank (FCMB) over the years. The event also provides us another good opportunity to engage and delight our customers. We are determined to be the bank that everyone wants to bank with, do business with, where opportunities are turned into realities’’.

    He added that ‘’exceptional service delivery at all times remains a core aspect of FCMB. We are committed to attaining the highest levels of customer advocacy to further consolidate our position as a foremost brand and an inclusive lender’’.

    Fasinro assured that the bank would continue to deploy its service culture effectively and appreciate the loyalty of customers by offering value-added offerings that would meet their individual and business needs as well as that of Nigeria in a sustainable manner.

  • I now dedicate time to evangelism —FCMB founder Subomi Balogun

    I now dedicate time to evangelism —FCMB founder Subomi Balogun

    Otunba Subomi Balogun is the founder of First City Monument Bank (FCMB). He is a prince of the Ijebu Kingdom and an accomplished businessman. In this interview with OKORIE UGURU after the popular Ojude Oba festival in Ijebu Ode, Ogun State on Wednesday, he spoke about his life as a man committed to promoting the culture of his people and a philanthropist, and how he is spending life in what he called semi-retirement from business. 

    YOU appeared to have been so much enthusiastic about this year’s Ojude Oba festival. What was responsible for that? Have you also ever participated directly in any of the events at the festival?

    The question is very fundamental. Why I’m I so enthusiastic? First, I am a loyal, distinguished son of our monarch, the Awujale. I happened to be the Olori Omoba (head of the princes and princesses). Providence has placed me in the situation in which everybody will expect me to be close to the Awujale and be supportive of whatever he is doing by way of our culture and tradition.

    Secondly, people know me as a very senior member of royalty in Ijebu land. Apart from being the Olori Omoba, I am the Olori Ebi (head of the family) of one of the largest ruling houses. You may have heard or you may have noticed that I come from one of the prominent Balogun families…

    Which is…?

    Odunuga. But one is getting a bit old now. Normally, when they come in like that, I dance with them. I am like a sort of head of family there. So, definitely, I will be interested in Ojude Oba festival, as it highlights quite a lot of the Ijebu ethos and tradition. With all the paraphernalia of positions which I hold in town and in the country, it will be unpatriotic of me not to be supportive of whatever our royal father is doing.

    Lastly, every Ijebu person looks forward to the annual Ojude Oba event. Ojude Oba is held within the palace or in front of the Awujale’s palace. But I think it was about 1892 when my own ancestor, Oba Adesumbo Tunrase, who actually signed the treaty of the relationship with the British queen, and who was far seeing enough, gave land to the Muslims to establish their central mosque, at the same time agreed with the British missionaries to preach Christianity in Ijebu land, and even went further to allow some of his children to be baptised. To cap it all, he gave them the land on which the first church in Ijebuland was built. That is St. Saviour’s, Italupe.

    So, from my pedigree, background and association and what the good Lord has endowed me with, it will be regarded as unpatriotic if I don’t play a leading role in this most important cultural and traditional  event of Ijebu people.

    Apart from whatever my good Lord has endowed me with, I am, by the grace of the reigning monarch, the head of the princes and princesses. So, I am very much involved. I can tell you that if this event is taking place and I am not around, many people will ask questions, whether I am unwell, which can’t be, or whether I am disagreeing with my royal father, which can’t be. So, I have always been in the forefront, let me put it that way, in the celebration.

    When Ojude Oba started, it was the Muslims who used it to pay homage and show their appreciation to the reigning monarch for all the beneficence he had given them. So, you can see that from my pedigree, I am both from the Balogun family, I am also from royalty.

    Was there ever a time you rode the horse on the occasion?

    When I was young, I used to be on a horse. Even before then, while my father was alive, I would join them in heralding my grandfather with singing and dancing. You saw my young cousin, Sunny Kuku. He wasn’t on horseback, but he was dancing and added colour to the Balogun Kuku family. Incidentally, the Balogun Kukus and the Balogun Odunugas are cousins. We all descended from the Borogun family.

    How do you spend your time now that you are no longer as active as you used to be in business?

    I am one of the people who can hold out their chest and say that the good Lord has been kind to me. So, in return for that, I have given my life to the service of the community, my fellow human beings and to the service of my God. So, I spend more of the time relaxing, resting and doing the work of God. You don’t need to be a cleric or wear the round collar before you can do the work of God.

    I use any opportunity I have to be an evangelist. I am very committed to that. I am the Asiwaju of Ijebu Christians. I was made that after a legendary person, Chief Adeola Odutola, who was incidentally my own father’s classmate. I joined the Christians when I was young, and the Christian community found that there were attributes in me that could make me perform some leadership role they have entrusted to me. So, I spend time a lot doing charity works, philanthropy as you call it, having concern for my fellow human beings as a way of atonement to my God for the marvelous things the good Lord has done for me.

    Being a philanthropist with many foundations involved in charity work, what is your foundation doing to enhance the society?

    Everything I have done has been a continuous institution. You are all aware that my main focus is health care. The good Lord has enabled me to build one of the largest in Africa, purposely built children’s hospital, which I have now given to the University of Ibadan (UI). It has been converted to a medical college affiliated to the College of Medicine, UI. I think if you walk in there, you will find quite a lot of equipment that you don’t find around, and it is a national institution, not just for the Ijebus. That is why I gave it to the first national medical college to operate. Beyond that, I am a Christian and I believe whatever the good Lord has endowed me with is not for me alone, but that I should go out and do things that will make life better for members of my community and Nigerians in general.

    I believe charity is not something you can boast about. It is between me and my God, and I don’t talk much about what I have done. I only pray to God that from time to time, I should be willing to share whatever the good Lord has endowed me with, with my fellow human beings. I should try and be my brother’s and my sister’s keeper.

    Not a lot of people know that you have a private museum. Can you tell us about it?

    That museum is yet the first an individual has built, if not in Yorubaland, at least in Ijebu. It is to commemorate my ancestor Oba Adesumbo Tunrase, who allowed the British to sign a protective treaty and who also allowed the British to preach Christianity. And he encouraged the Muslims by giving them land. The whole idea perhaps was to give opportunity for acquiring knowledge about the role of that illustrious Awujale. Because there are so many factors of me that were immediately induced by the fact that I am a descendant of this great monarch. I wanted to be able to assemble authentic history as to what the late monarch contributed, not only to Ijebuland, but in fostering not only inter-ethnic trading but opening the door for the British to go into the hinterland.

    At that time, I don’t think many people were literate enough to read A,B,C,D. It was during the reign of that monarch people started to become literate. I wanted one, to immortalise the benefits of the reign of this distinguished monarch of Ijebu. At the same time, I wanted to develop authentic history of royalty in Ijebuland, and, if possible, to be able to identify those who are members of royalty. You see, quite a lot of history which we get now are from oral tradition. They have not been documented. When you want something authentic, you want it documented. So, I provided this museum as a place of custody of a number of relics of the royalty, of custody of historical materials about that royalty. Quite a lot of things about the Ijebu royalty and even the origin of the Ijebus may not have been documented.

    From the research being done…we have a curator there who is a retired professor of history and politics of an American university. His regular concern is to have people coming forward with either relics of the royalty or authentic stories about their connection with royalty, and also about Ijebu royalty. They hold regular seminars and lectures and people go there, read documents about what has happened in Ijebu since. You can also get quite a number of recently published books on Ijebu history. You can find copies there. Some of the events in Ijebu land, the videos and copies of the disk are there. So, it is an opportunity for people to study the origin, and also the authenticity of her history. I don’t want oral tradition alone to be relied upon.

    So, the essence of the place is to provide an avenue for people to study history and to identify those who are related to royalty. At the end of the day it will be a place to study Ijebu royalty, and to some extent, the history of Christianity in Ijebu land, because this was the king who allowed Christianity to be preached publicly

  • FCMB opens Asokoro branch, reiterates need for quality service

    FCMB opens Asokoro branch, reiterates need for quality service

    First City Monument Bank (FCMB) Limited will on Monday, open a new branch in the Asokoro area of Abuja. The new branch, located at 75, Yakubu Gowon Way Asokoro, Abuja, is part of the bank’s drive to enhance service quality and meet the banking needs of its customers.

    The development is in line with its strategic expansion approach, which aims to extend the Bank’s reach and make its operations accessible to more customers across the country.

    In a statement, the Vice President, Branch Management and Trade Services at FCMB, Oluwakayode Adigun, re-iterated the lender’s commitment to strategically grow its network to deliver exceptional banking services to more Nigerians.

    According to him, “the new Asokoro branch is a strategic addition to our branch network. Though most of our customers prefer to carry out transactions from wherever they are, using our alternate channels such as FCMBMobile, FCMBOnline, USSD Quick Recharge and ATMs spread widely across Nigeria, some customers still prefer human interaction when banking. Thus, for such customers within and around Asokoro, they now have the opportunity to enjoy FCMB’s wide range of financial products and services”.

    He further affirmed that, similar to what obtains at all FCMB branches across Nigeria, customers visiting the Asokoro branch can expect excellent customer experience from the bank’s team of service professionals, who are on ground to provide not just the usual traditional banking support, but also assist customers with mobile and internet banking registration. The branch also offers numerous self-service options such as cash depositing and withdrawal ATMs, as well as self-service terminals for routine requests and transfers.

    Divisional Head, Retail Banking at FCMB, Olu Akanmu, emphasised the bank’s approach of deploying smart branching and technology in order to attain its retail banking growth and profitability goals. In his words, “FCMB’s robust suite of financial solutions and an award-winning service culture are capabilities that allow us to do more for our customers.

  • FCMB backs govt’s plan to deepen tourism

    First City Monument Bank (FCMB) Limited has reiterated its support for the Ojude Oba Festival, adding that it was meant to celebrate and preserve Nigeria’s cultural heritage.

    The move is also meant to boost tourism sector in line with the government’s drive to diversify the economy.

    The lender has therefore assured that its participation in this year’s edition of the festival, which holds in Ijebu-Ode, Ogun state, in September 14, will be exciting and rewarding for thousands of people within and outside the country that will be at the fiesta.

    Its Group Head, Corporate Affairs, Diran Olojo said the lender has in the past 10 years, continued to play a significant role in ensuring the success of the festival. Speaking at a press conference organised yesterday by the Ojude Oba Festival Planning Committee, in Ijebu-Ode, he explained that the festival remains a major activity in Nigeria that began over 100 years ago.

    “It brings together all sons and daughters of Ijebuland in Nigeria and Diaspora for a carnival-like celebration of the traditional, cultural, spiritual accomplishments and other values of the Ijebu nation. During the festival, various age groups (popularly known as the Regberegbes), indigenes, their friends and associates from far and near – all in their colourful costumes and riding on horses – throng the palace of the Awujale and paramount ruler of Ijebuland to pay homage to him amidst prayers and other fun-filled activities,” he said.

    In a goodwill message to the Awujale of Ijebuland, Oba Sikiru Adetona on the occasion of this year’s Festival, the Chief Executive Officer of FCMB, Ladi Balogun, congratulated the monarch for upholding the values of Ijebuland and raising the status of the event over the years.

    He stated that FCMB is committed to the longevity of the festival, and was proud to be associated with it. “’The Ojude Oba Festival has become a long standing yearly tradition we look forward to as a unifying factor and a tourist attraction. For over a century, the festival has gone a long way to showcase, amplify and promote our cultural heritage. FCMB has been a major supporter of the festival for more than a decade and it has been a mutually beneficial journey,’’ Balogun said.

    In the same vein, the Founder of FCMB Group who is also the Olori Omo-Oba Akile Ijebu, Otunba (Dr) Michael Olasubomi Balogun, in a goodwill message to the paramount ruler of Ijebuland expressed his gratitude to the Awujale, especially considering the paramount ruler’s selflessness in attending to the different requests and yearnings of the people of Ijebuland.

    In a message delivered on his behalf by Olojo, the spokesman of FCMB, Otunba Balogun commended the monarch for his, ‘’distinguished and exemplary leadership over the years which have continued to endear you to all of us’’.

  • FCMB donates to the blind

    First City Monument Bank (FCMB) Limited has donated 15 Braille machines to the Federal Nigeria Society for the Blind (FNSB) at its Vocational Training Centre (VCT), Oshodi, Lagos State.

    The lender also restated its commitment to helping the underprivileged within the society.

    The machines are designed to aid the blind in reading and writing.

    The donation of the machines forms part of the bank’s Corporate Social Responsibility (CSR) initiatives, which focus on poverty alleviation, economic empowerment and environmental sustainability. The gesture is aimed at effectively supporting the efforts of the FNSB towards enhancing the standard of teaching, as well as learning of the blind, who are students of the VCT.

    Group Head, Corporate Affairs of FCMB, Diran Olojo, said the bank recognises the importance of every segment of the society.

    He added: “As a corporate organisation, we believe that it is necessary to constantly extend the hand of fellowship, support and love to the physically challenged and other less privileged groups through charity programmes like this. “We will continue to support initiatives and programmes that empower people to fulfil their aspirations. We are committed to helping a wide spectrum of our stakeholders to ensure the emergence of a sustainably progressive society.’’

    Divisional Head, Human Resources and Strategy of FCMB, Felicia Obozuwa, explained: ‘’As an institution, we will do our best to help remove barriers, give new hope, provide resources and expand possibilities, so that people with vision loss can achieve their full potential.’’

    She urged the students not to see the physical challenge as an impediment to the attainment of their ambitions.

    Chairman of Council, FNSB, Asiwaju Fola Osibo expressed “profound gratitude to FCMB’’.

  • Four FCMB promo winners get N1m each

    Four FCMB promo winners get N1m each

    First City Monument Bank (FCMB) has rewarded 644 customers at the second draw of its ongoing promotion tagged: FCMB Millionaire Promo Season 3.

    The winners emerged yesterday during the electronic selection which took place across the four regions and 25 zones of the bank nationwide.

    While four customers of the were rewarded with the sum of N1 million each at the regional draws in Lagos, Kano, Port Harcourt (Rivers states) and Ilorin (Kwara State).

    Also 640 customers won different prizes such as LED televisions, power generating sets, decoders, tablets, smart phones and other consolation prizes at the zonal draws held in different parts of the country.

    At the Lagos Regional draw, Franca Ehighale Hilary emerged as the lucky winner of N1 million, while at the Abuja/North Regional draw held in Kano, Meller Lois Benjamin was rewarded with the same amount. Abigail Onwugbuta emerged the winner of N1 million at the Southeast/Southsouth Regional draw that took place in Port Harcourt, while Adewole Adams Kolawole won N1 million at the South-West Regional draw in Ilorin.

    The  promo commenced in April this year and will run till November. The current season follows the successful conclusion of the Millionaire Promo Season 2, which held from August 2015 to January 2016 and produced 12 millionaires. The promotion which targets all segments of the society is part of the various initiatives put in place by FCMB to reward customers for their loyalty and patronage.

    Speaking on the promo, its Senior Vice President/Divisional Head, Retail Banking, Olu Akanmu, said: ‘’The Millionaire promo represents a unique opportunity for us to connect with and reward our customers for their loyalty and patronage.

    “We listen to our customers and when they asked for more after the success of Millionaire Promo Season 2, we were keen to deliver and ensure that more of our customers (both existing and potential) benefit from this exciting reward scheme.”

  • FCMB Group posts N16.3b half-year profit

    FCMB Group Plc has reported a profit before tax (PBT) of N16.3 billion for the six-months ended 30 June 2016. This represents an increase of 70 per cent from N9.6 billion recorded in the comparative period of 2015.

    FCMB Group Plc, which consists of First City Monument Bank (FCMB) Limited, FCMB Capital Markets Limited, CSL Stockbrokers Limited and CSL Trustees Limited, partly attributed the development to foreign exchange revaluation gains, following the recent implementation of the flexible exchange rate policy by the Central Bank of Nigeria (CBN).

    From the details of its unaudited results announced on the floor of the Nigerian Stock Exchange (NSE), its gross revenue for the six months increased by 14 per cent to N88.3 billion, compared to N77.4 billion for the same period in the previous year.

    In addition, Non-Interest Income surged by 110 per cent to N26 billion versus N12.4 billion recorded at the end of June 2015. Customers’ confidence in FCMB remained strong, as deposits were up by five per cent quarter-on-quarter to N689.4 billion in June 2016, compared to N657.2 billion at the end of the first quarter of this year.

    In addition, total assets increased by 13 per cent quarter-on-quarter to N1.3 trillion in June 2016 versus N1.1 trillion in March 2016. The Group’s Loans and Advances, also grew by 17per cent quarter-on-quarter to N657 billion in June 2016, compared to N561.6 billion at the end of first quarter of this year.

    FCMB Group Plc’s half year 2016 results also showed a decline in operating expenses by three per cent year-on-year to N32.7 billion, in spite of a rise in inflation, while Non-Performing Loans (NPLs) to Total Loans Ratio was marginally down to 4.7 per cent from 4.8 per cent for Q1 2016. Earnings per share witnessed a significant increase from 33 kobo at the end of the first quarter of 2016 to 283 kobo as at 30 June this year.

    Managing Director of FCMB Group Plc, Peter Obaseki, said: ”Our group’s half year 2016 profit before tax came in at N16.3 billion, up by 70 per cent on same period in 2015 and driven largely by treasury upsides, cost optimisation and sustained momentum in the commercial and retail banking group.”

    Group Managing Director of FCMB Limited, Ladi Balogun, said: “The bank witnessed improved operating performance in spite of the multiple challenges faced by the economy and the banking sector. The most significant driver of earnings’ growth was the N9.1 billion exchange gains from our dollar balance sheet”.

    The bank chief said the lender’s personal and  SME banking segments have exhibited resilient profit growth (in excess of 442 per cent or N7.4 billion, year on year) driven by electronic banking revenue and strong customer acquisition, now at 60, 000 a month. Greater cost discipline has also resulted in improved operating efficiency.

  • FCMB targets youths with Flexx Hub

    First City Monument Bank (FCMB) Limited has launched Flexx Hub, an exclusive banking arena for its youth customers, who hold  Flexx account.

    The flagship Flexx Hub is located at Lagos University Teaching Hospital, popularly called MediLag and the bank has unveiled a week-long launch event, which started in July 18, with exciting and activities that would climax with the Grand Opening of the Flexx Hub at the weekend.

    The Divisional Head, Retail Banking at First City Monument Bank (FCMB), Olu Akanmu, said the Flexx is not just an account, but a lifestyle platform that offers a customer experience centred around Fun, Future and Banking. “The tripod of ‘FFB’ is served through digital channels that fit into the lifestyle of the Flexx target market, which  include the Mobile App, a Microsite and an Online Account Opening platform, all of which allow a potential Flexx customer open an account with FCMB without having to visit a branch,” he said.

    He continued: “What the physical structure of the Flexx Hub brings to the table is a further simplification of banking as we know it and a place for young customers to breeze through those unavoidably physical  banking transactions, while enjoying access to free extras such as wifi, charging ports among others.

    “FCMB’s Flexx proposition is targeted at young people, who are actively seeking platforms which allow them to express their uniqueness, while building skills for financial success. A youth-centric banking product, Flexx is designed to meet the overall financial needs of young people within the range of 18 and 35 years, where and how they want those needs met.”

    While responding to why FCMB is investing so heavily in banking solutions that foster youth capacity building, the Group Head, Corporate Affairs of the bank, Diran Olojo said: “The youth segment is critical to our success as a retail brand. We are positioning FCMB as a youthful, vibrant and accessible brand and this segment is instrumental in harnessing that positioning for various reasons, including the population size in comparison to other segments, being about 42 per cent of Nigeria’s population, reference to a National Bureau of Statistics’ report.”

  • FCMB raises hope for MasterCard, Visa card holders

    FCMB raises hope for MasterCard, Visa card holders

    First City Monument Bank (FCMB) has said holders of its MasterCard, Visa and Verve cards are in for better value, seamless service and excellent experience, following the implementation of its recently commissioned technology solution, otherwise named, Finacle 10.

    The bank said yesterday that holiday makers will now have access to over 850 airport lounges around the world with their priority pass card available only to MasterCard holders since the cards are acceptable all over the world.

    The lender said its cards are configured in variants that suit different lifestyles, usable by all segments of the society and are quite easy and simple to activate.

    This bank said it is investing in more channels to reach its customers. FCMB’s customers are embracing alternative channels such as mobile at an impressive rate, whilst many crave for the reassurance of a 33-year enduring experience of a financial institution that has endeared itself to its customers.

    Responding in Lagos, the bank’s Group Head, Cards and Electronic John Iwuajoku, said the lender’s cards give access to much more than moderate transactions with subsisting exchange rates reflected on transactions executed with all its cards anywhere in the world.

    “We have set our eyes on providing robust products and facilities that meet the demands of  today’s innovative environment and complex desires and experience of our teeming customers. The comfort we are promising our customers with our cards includes increased transaction limit even in the face of other institutions shutting down their international transactions,” he said.

    The advent of financial innovation such as smart card, credit card, electronic transfers in the payment system space and the launching of internet banking have transformed the world into a global village linked with electronic impulses. The bank also has its pre-paid card in all card types, MasterCard, Visa and Verve (used within Nigeria only) for customers who do not wish to open current or savings accounts with the bank.

    The bank explained that all travelers and holiday makers can as well cash-in on these opportunities even where they are not its customers.

  • FCMB’s millionaire promo produces new winners

    FCMB’s millionaire promo produces new winners

    The First City Monument Bank (FCMB) Limited reward scheme tagged: “FCMB Millionaire Promo Season 3’’ has produced new millionaires that include a job seeker residing in Abuja, a trader, Sharon Ike, based in Obosi, Anambra State;  Tochukwu Onwuamaegbu, another trader in Lagos; Mistura Ibrahim and Abimbola Olayinka, a customer in Ibadan, Oyo State.

    The  lucky customers emerged from the electronic draws held last week across the country.  In addition, 640 other customers were rewarded with various exciting gift items such as LED televisions, power generating sets, decoders, tablets, smart phones and other consolation prizes.

    At the Lagos regional draw, which held at the bank’s Amuwo Odofin branch, Ibrahim emerged the winner of N1 million, while at the Abuja/North regional draw in Abuja, Sharon Ike was rewarded with the same amount. In the same vein, Onwuamaegbu was announced the lucky winner of N1million from the Southeast/Southsouth draw that took place at Oko in Anambra State, just as Olayinka won N1 million cash prize. She won at the Southwest regional draw, which held in Ijebu-Ode, Ogun State.

    The bank’s Senior Vice President/Divisional Head of Retail, Olu Akanmu, said: ‘’This promo  is designed to further connect with and reward our customers for their loyalty and patronage.”

    He explained that to participate, what an existing or a new customer needs to do is to increase his or her balance by N10,000.00 in any of the eligible savings accounts and maintain it for 30 days to qualify for the monthly draws, where the star prize of N1 million and other fantastic prizes would be won.  Multiple savings of N10,000 will increase the chances of winning.

    A manager with the National Lottery Regulatory Commission, Mrs. Ifueko Emorhokpor, praised the bank for the initiative.