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Tag: FCMB

  • FCMB targets 3.8m customers

    FCMB targets 3.8m customers

    First City Monument Bank (FCMB) has announced the opening of its branch in Gbagada, in Lagos State with effect from June 13 this year. The lender also plans to raise its customers’ base to 3.8 million, with 600,000 expected join its base within this year.

    The new branch, on Diya Street, Ifako-Gbagada, is in line with its plan to make its operation accessible to its customers and members of the public.

    “The location of the branch takes  into consideration convenience for our customers and other people living in Gbagada, Shomolu, Anthony, Ogudu, Oworoshoki, Bariga, Akoka and the environs,” the bank said in a statement.

    The Vice President, Branch Management and Trade Services, Oluwakayode Adigun said: “We are pleased to establish a presence in the neighbourhood, as part of our continued retail drive. This is not just another branch as each of FCMB’s new branches brings with it, something special in terms of structure, aesthetics and above all, the excellent customer experience, to be provided by an excellent team of service professionals, who will not only serve you in the traditional manner, but also assist with mobile and internet banking registration and basic tutorials.”

    The bank’s Group Chief Executive/CEO, Ladi Balogun said: “With a robust product suite for businesses and individuals and our award winning service culture, we are intent on leveraging these capabilities by investing extensively in channels to reach more customers. Today, our customers are embracing alternative channels such as mobile at an impressive rate, whilst many still need the reassurance of an experienced banker and the infrastructure a branch offers.”

     

  • CIBN accredits FCMB’s Training Academy

    CIBN accredits FCMB’s Training Academy

    The First City Monument Bank’s Training Academy has been certified and granted full accreditation status by the Chartered Institute of Bankers of Nigeria (CIBN). This followed its compliance with best practices and other requirements set by the Institute.

    The CIBN certification came at the end of a recent evaluation exercise carried out by the Institute under the Central Bank of Nigeria (CBN) competency framework for the banking and finance industry.

    The FCMB Training Academy is a full-fledged learning and development centre responsible for the continuous building of skills and the expansion of knowledge base of new and existing workers of the bank. The Academy has, over the years, upgraded the quality of its offerings, which include the introduction of an industry leading e-learning platform, hiring of internal and external facilitators of high repute and provision of modern facilities.

    Speaking at the certificate presentation ceremony, the CIBN President/Chairman of Council, Otunba (Mrs.) Debola Osibogun said: “I am indeed, elated that FCMB’s learning academy has also joined the league of institutions certified to provide training services in the industry. I thank the Chief Executive Officer (CEO) of FCMB, Ladi Balogun for deeming it fit to tap into the scheme for the benefit of staff.”

    Balogun, represented by the bank’s Divisional Head, Human Resources and Change Management, Felicia Obozuwa, said the accreditation is a clear demonstration that the various strategic approaches adopted by the bank to boost its workforce’s learning and development through the Training Academy are yielding the desired results and appreciated.

  • FCMB backs NSE’s Corporate Challenge

    FCMB backs NSE’s Corporate Challenge

    First City Monument Bank (FCMB), for the third time in a row, is throwing its weight behind this year’s edition of the Nigerian Stock Exchange’s (NSE) Corporate Challenge. The exercise would help the parties raise funds, which would be donated towards providing mobile cancer screening centers in the country.

    The event, which holds in Lagos on May 14, is driven by the lender’s desire to checkmate cancer, which has seemingly brought humanity to its knees, especially in Nigeria. The event kicks-off at 7am and  will have participants take-off from the Muri Okunola Park in Victoria Island, Lagos, passing through Ozumba Mbadiwe Road to Akin Adesola Street, to  end the race at the same take-off point.

    With theme: “Erase Cancer”, the event is a call to action for Nigerians, especially corporate bodies, including over 100 listed companies and broker dealer firms in the NSE whose representatives and staff are expected to participate in the five kilometer walk, jog and run competition to stand against this menace.

    This initiative aligns with various aspects of FCMB’s corporate social responsibility and its strong belief in the Sustainable Development Goal, which focuses on health for all.

    FCMB’s Group Head, Corporate Affairs, Diran Olojo said it is the lender’s concern for cancer patients and their painful experiences that drives FCMB’s support for this laudable project.

    “This is more apt when one remembers that cancer accounts for 13 per cent of all deaths registered globally. And in Nigeria, about 10,000 cancer related deaths are recorded annually while 250,000 new cases are recorded yearly. This is quite painful to imagine,” he said.

    “FCMB as a socially responsible and conscious corporate body, is keenly interested in this fight. We want Nigerians to know that most types of cancer including breast, cervical, oral and colorectal cancer can be cured if detected early. It is also important to know that our diet and lifestyle play a crucial role in reducing the scourge of cancer. One must maintain a healthy lifestyle and go through regular medical check-ups,”he said.

    The NSE Corporate Challenge has been designed exclusively for companies listed on the NSE and capital market participants to promote teamwork and a healthy community. The event provides opportunity for positive competition among corporate teams, as well as a chance to network within the business community.

  • FCMB deepens retail banking drive

    FCMB deepens retail banking drive

    First City Monument Bank (FCMB) Limited has continued to build a valuable franchise in the retail space. The lender has not only created innovative products and service offerings that resonate with the needs and lifestyles of the market, but also provide superior customer service that meets clients’ needs.

    This 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.

    The bank’s Group Managing Director/CEO Ladi Balogun promises that the lender 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,’’ he said.

    The bank, which has over 220 branches nationwide, is also consolidating its position as the largest retail lender in the country, granting over 240,000 loans annually.

    “The 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 four million by the end of this year, 2016,” he said.

    Continuing, the bank chief said 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, the bank 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 naira-wise, 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,” he said.

    FCMB’s Debit Cards for example have a competitive edge from a service delivery perspective. These cards are issued instantly at all the Bank’s branches nationwide on the MasterCard, Verve and Visa platforms. There are also, foreign currency (USD and GBP) denominated varieties.

    The bank also supports Micro, Small and Medium Scale Enterprise (MSME) operators and is one of the lenders disbursing the N220 billion CBN fund for MSMEs.

    On product development, “FCMB’s SME product, known as FCMB Business Account has been described as one of the best in the industry. This product comes with affordable account opening balance, with minimum opening balance of only N5,000 and there are  no limits to the frequency or number of times withdrawal can be made, apart from other very friendly features”.

     

  • FCMB enhances funding for agric sector

    FCMB enhances funding for agric sector

    First City Monument Bank (FCMB) Plc has reiterated its readiness to enhance funding for agricultural sector and value-chain segments of the sector in the interest of the economy.

    The lender said the crash of crude oil prices has created opportunities for financial institutions to support non-oil segments of the economy, especially agriculture and its value chains.

    The bank’s Group Managing Director/CEO, Ladi Balogun said  with Nigeria’s favourable climatic conditions, vast arable land and fertile soils, agriculture funding is critical as it will play significant role in the nation’s drive to achieve sustainable development.

    “Agriculture not only ensures food availability, but remains instrumental to effective jobs creation, value addition, wealth creation as well as spurring economic development. We believe that as desirable as agriculture is to economic well-being, Nigeria is yet to maximise the potentials inherent in the sector,” the bank chief said.

    The fall in crude oil prices, according to him, has affected both the naira and inflation statistics as the country imports the vast majority of goods and services consumed locally.

    Balogun said relegation of agriculture to subsistence farming, non-prioritisation of agribusiness at various levels of governance, poor state of research and storage facilities, extension and disjointed value chains are some of the challenges hampering the sector.

    The bank chief said a major component of the bank’s sustainability principle is on agriculture and helping farmers to reduce the level of poverty among them as part of its financial intermediation role for national development.

    He said the bank’s intervention has resulted in better access to financial resources by deserving individuals, organisations and companies. It has also led to improved processes, better output and profitability and enhanced confidence in the ability of the financial services sector to drive economic growth.

    Also, Chairman, Tractor Owners and Hiring Facilities Association of Nigeria (TOHFAN), Alhaji Danladi Garba, praised the lender for providing a N300 million facility to the group for the acquisition of tractors distributed to farmers in Kaduna State.

    The bank also collaborated with Doreo Partners to launch a support programme for farmers, known as Babban Gona or ‘’great farm’’, which is an agricultural franchise model, where farmers are trained and offered specially packaged loans to carry out their farming activities.

    The bank has also collaborated with the International Financial Corporation, (IFC) to promote agribusiness and education sub sectors of the economy.

    “By the agreement, the IFC was to route more lending to private businesses involved in the agribusiness sector, which, as already stated, is a key driver of the country’s economic growth. The bank  reasoned that continued credit availability for agricultural-based businesses would help maintain the sector’s growth momentum. The package was a long-term senior loan of $50 million and a convertible loan of $20 million aimed at supporting the bank’s growth strategy and helping it increase financing of small and medium enterprises,” the lender explained.

    Balogun views IFC’s investment as a stamp of approval on the bank’s strategy and commitment to good corporate governance and risk management.

  • FCMB promotes savings culture among youths

    FCMB promotes savings culture among youths

    First City Monument Bank (FCMB) Limited has urged Nigerian youths, especially students, to expand their knowledge base on financial literacy and its principles. This, the bank stated, can be achieved by imbibing a savings and investment culture at an early age, which will help to empower them and secure their future in a sustainable manner.

    Speaking yesterday during an outreach programme organised by FCMB for students of Federal Government Girls College, Akure in Ondo State, the bank’s Vice President/Group Head, Corporate Affairs, Diran Olojo, who represented the Group Managing Director/CEO, Ladi Balogun, said imbibing financial principles at an early age will go a long way to help students and the youths manage their resources effectively, appreciate how money works and how it can be channeled to productive ventures.

    FCMB adopted the school for a full year as part of its financial literacy programme support. This adoption will result in the participation of the bank’s staff in various mentoring projects, the provision of teaching services to the students and other support activities during the next 12 months. In addition, the Bank also announced the donation of a power generating set to the school.

    The outreach session forms part of activities to commemorate the 2016 edition of the Global Money Week and Financial Literacy Day celebration, an initiative of the Bankers’ Committee in collaboration with the Central Bank of Nigeria (CBN). The financial literacy programme is focused on educating youths in Nigeria on the country’s economic environment, the importance of saving, financial control, planning and knowledge of basic financial concepts, amongst other benefits.

    Principal of Federal Government Girls College, Akure, Mrs. Florence Ejikeme, praised the Central Bank of Nigeria (CBN) and FCMB for committing both human and financial resources to execute the financial literacy initiative.  She described the outreach programme organised by the Bank as, ‘’an eye-opener and empowerment tool not just for students, but also the members of staff of the school’’.

  • FCMB deepens CSR, empowers communities

    First City Monument Bank (FCMB) has empowered the people living in Bayeku community in Ikorodu, Lagos State under its Corporate Social Responsibility (CSR) initiative. The social intervention training programme recently organised by the lender in partnership with MitiMeth to use water hyacinths in making handicrafts has begun to yield positive results.

    Findings showed that participants in the project have already commenced the production of key-rings and other accessories for commercial purposes. The training, held last year November and December, in the community, was initiated and sponsored by the lender as part of its environmental sustainability and poverty alleviation programme to curb the menace of water hyacinths that disrupt water transportation and fishing.

    “Infestation by water hyacinth is usually heavy on the waters surrounding Bayeku community at various times of the year, negatively impacting livelihoods – transportation, fishing and health – in the area,” the bank said in a statement.

    MitiMeth, a capacity building firm which specialises in making handicrafts from invasive aquatic materials, trained members of the community on how to convert the hyacinth in making handicrafts such as baskets, lamps, vases, among others, for commercial purposes while at the same time preserving the environment.

    “Upon successful completion of the workshop, co-operatives focused on converting the hyacinth to handicrafts such as baskets, lamps, vases, etc were established in the affected communities. With the new skills learnt, women and youths of Bayeku community have been empowered to turn a disadvantage into a source of income,” the bank’s Team Lead, CSR and Sustainability of FCMB, Mrs. Temitayo Ade-Peters said.

    ‘With this capacity building and empowerment programme, we have been able to preserve the environment and empower people in the community to create additional sources of income thereby reducing poverty,’’ she said.

    While commending the artisans for their commitment and feat attained so far, Mrs. Ade-Peters assured that the lender will continue to innovatively devise means of converting challenges posed by the environment to opportunities.

    The bank said it is committed to championing and supporting initiatives to make our planet a safe haven for us and the future generation.

     

  • FCMB upgrades service delivery with new software

    FCMB upgrades service delivery with new software

    First City Monument Bank (FCMB) Limited has upgraded its service delivery platform by deploying the Finacle Core Banking solution version 10 to enhance world-class service excellence and customer experience.

    In a statement, the bank said the new generation banking platform will accelerate innovation and support its business growth in the rapidly changing business environment in which it operates.

    It explained that the advanced service-oriented architecture (SOA) of Finacle 10 enables the lender to optimise its processes, enhance system reliability, performance, scalability and security, among others. This ensures that transactions at the bank’s branches and other touch points are now faster with rare occasions of service unavailability at its alternate channels, while offering more innovative products to customers.

    While expressing gratitude to customers for their patience and understanding during the upgrade process, the Bank assured that it will continue to expand its platforms and further raise the bar in products and service offerings in line with its culture of excellence and values as a simple, reliable and helpful lender.

    The Group Managing Director/Chief Executive of the bank,  Ladi Balogun, said, the bank is excited to have successfully concluded the Finacle 10 service delivery platform upgrade.

    He stated further: “’We are conscious of the needs of our target market and the evolving dynamics of the society with an increasing technology savvy population. The new Finacle 10 solution provides us the flexibility required to create new pathways for enhanced offerings and service excellence, using cutting edge technology. It has also placed us on a higher pedestal to sustain our rapid expansion drive and keep pace with market demands and trends.”

  • FCMB holds Health Week

    FCMB holds Health Week

    As part of activities to mark its Health Week, First City Monument Bank (FCMB) Limited has set up medical screening centres in 32 of its branches nationwide to check its workers’ blood pressure, blood sugar, cholesterol and Body Mass Index (BMI).

    There will be free mammogram tests for interested FCMB female workers and wives of their male counterparts.

    Speaking on the significance, Divisional Head, Human Resources and Strategy, Felicia Obozuwa said the bank, through the services of a professional nutritionist, has produced a healthy eating cookbook containing details of how to prepare healthy versions of popular Nigerian dishes.

    The highpoint of the event is a family fitness day for employees of the Bank, their spouses and children, scheduled to hold at Onikan Stadium.

    ‘’Employee Health is a key priority for us. The Health Week is one of our initiatives that have been instituted to promote a healthy lifestyle for our employees and their family members to ensure a healthy society. We recognise the enormous efforts and contributions of our employees in the growth and achievements recorded over the years by the Bank. We are determined to build an organisation that is impactful in the lives of our employees and other stakeholders to reinforce our core values of professionalism, sustainability, customer focus and excellence. Hence, we will continue to carry out programmes that will ensure that our employees get the best information, to ensure the best state health, which is in line with our ‘great place to work’ mission,” Obozuwa said.

     

  • FCMB upgrades service delivery with new software

    First City Monument Bank (FCMB) Limited has upgraded its service delivery platform by deploying the Finacle Core Banking solution version 10 to enhance world-class service excellence and customer experience.

    In a statement, the bank said the new generation banking platform will accelerate innovation and support its business growth in the rapidly changing business environment in which it operates.

    It explained that the advanced service-oriented architecture (SOA) of Finacle 10 enables the lender to optimise its processes, enhance system reliability, performance, scalability and security, among others. This ensures that transactions at the bank’s branches and other touch points are now faster with rare occasions of service unavailability at its alternate channels, while offering more innovative products to customers.

    While expressing gratitude to customers for their patience and understanding during the upgrade process, the Bank assured that it will continue to expand its platforms and further raise the bar in products and service offerings in line with its culture of excellence and values as a simple, reliable and helpful lender.

    The Group Managing Director/Chief Executive of the bank,  Ladi Balogun, said, the bank is excited to have successfully concluded the Finacle 10 service delivery platform upgrade.

    He stated further: “’We are conscious of the needs of our target market and the evolving dynamics of the society with an increasing technology savvy population. The new Finacle 10 solution provides us the flexibility required to create new pathways for enhanced offerings and service excellence, using cutting edge technology. It has also placed us on a higher pedestal to sustain our rapid expansion drive and keep pace with market demands and trends.”

    Also speaking, the Executive Director, Service Management and Technology of FCMB, Nath Ude, said: ‘’The pace of change in the financial services sector is unprecedented, driven by growth in disruptive technologies that are changing how we bank and conduct business. This new environment creates challenges, but more importantly, provides us with a unique opportunity to lead the sector and serve our customers as they embrace new technologies and seek secure, easier and more flexible ways to look after their daily banking needs.

    “With the functionalities available in the new Finacle10, we are optimally positioned to help our customers realize their financial goals while delivering products and services in a targeted manner that takes into account, our customers unique needs and preferences,’’ he said.