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From
the Banks |
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FirstInland
Bank Boosts Employee Productivity
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First
Inland Bank has announced the adoption of Microsoft Exchange
Server 2007 as part of its commitment to simplifying the work
process and increasing productivity.
First Inland Bank has a reputation for advancing the frontiers
of technology usage in banking through its pioneer Flash-Me
Cash e-payments platform.
According to Gabriel Obaji, Chief Information Officer at the
bank, who made the announcement, the new business environment
and world of work demands that staff collaborate more efficiently
and stay connected at all times to the customers, to colleagues,
to suppliers, and to competitive information.
He said that after a detailed and in-depth analysis of the
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previous Lotus
Notes messaging system within the bank, the management saw the need
for significant improvement in information security, regulatory
compliance, service availability, organizational agility and employee
productivity.
“The previous system was very slow, taking up to 5 minutes
to download simple emails. The complaints from users had become
unbearable. We needed to do something about it fast,” said
Obaji.
The bank's network of over 4000 users was running on Lotus Notes
and Domino v7.0.
Working with Dimension Data, First Inland Bank migrated its messaging
network successfully to Microsoft Exchange 2007 that scales across
a couple of Intel-based 64-bit server hardware.
Using the Lotus Notes Transporter Suite developed by Microsoft and
built on the .NET Framework with capabilities to migrate Domino
user objects, groups and mailbox items, the Dimension Data delivery
team moved across over 4000 user mail boxes and Distribution Groups
from Domino to Microsoft Exchange Server 2007 within a couple of
weeks.
Dimension Data is one of Microsoft's leading Gold Partners globally.
Jide Agbaje, Head of Microsoft Division at Dimension Data Nigeria
said “First Inland Bank improved its security and efficiency
by using Directory services as a central point of authentication
and resource management.”
“We mapped FIB's information infrastructure to its business
objectives of higher levels of system availability and security.
This provided a new infrastructure platform that supported advanced
level applications, such as SharePoint and Exchange 2007, as well
as the use or sharing of data that was not possible with the previous
system,” Agbaje said.
Obaji revealed that the user experience at First Inland Bank has
been phenomenal. A recent company-wide survey shows almost 100%
satisfaction for all users interviewed. The bank has already witnessed
improved productivity through access to information, e-mail, voice
mail, calendar and contacts from anywhere, at anytime.
“The switch to Microsoft Exchange 2007 was very smooth. Now
everyone in our bank is happy. Total focus on the Microsoft Exchange
2007 deployment brought about the success that we are now so proud
of,” Obaji said.
Also speaking on First Inland Bank's recent migration from Notes
to Microsoft Exchange Server, Bukunmi Omidiran, Financial Services
Business Manager at Microsoft Nigeria said that the role of software
has become more imperative than ever for simplifying the way people
work together, find information, improve business insight, secure
and manage content. |
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GTB's
Financial Year End Now Dec 31
..Releases Year 2008
6months results
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Guaranty
Trust Bank plc has again demonstrated its strong footing in
the nation's financial industry with its latest un-audited
financial score card indicating a remarkable
109% increase in its Profit Before Tax for six months ended
August 2008; confirming the bank's increasing share of the
banking industry.
The financial results announced recently on the floor of the
Nigerian Stock exchange, showed that the bank grew its Gross
earnings from N33.0 billion recorded in the corresponding
period of last year to N57.2 billion this year.
The bank also recorded a profit before taxation (PBT) of N23.0
billion for this half-year period. This is a 109% increase
from N11.0 billion recorded in the corresponding period last
year. The bank's Total Assets plus Contingents grew by 43%
from N840.4 billion to N1.2 trillion, while shareholders'
funds stood at N167.1 billion as at 31 August 2008.
In the same vein, the bank in its bid to further enhance share
holder value, officially announced a change in its financial
year end from February 29th to December 31st, starting from
this year.
According to the managing director of the bank, Tayo Aderinokun,
the decision of the bank is in keeping with its tradition
of ensuring the adoption of international best practices,
as many renowned international banks have December 31st as
their financial year end.
This decision would also align the bank's year end with that
of its subsidiaries, which already operate a 31st December
year end. The bank was one of the few banks that indicated
its intention to comply with the initially proposed uniform
December year end by the CBN.
With over 140 business offices in Nigeria and banking subsidiaries
in Ghana, Sierra Leone, Gambia and the United Kingdom, Guaranty
Trust Bank has over the years maintained a pre-eminent position
as a major player in the Nigerian financial services industry
through its consistent remarkable achievements.
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FCMB Ends Year In Successful Note |
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First
City Monument Bank Plc (FCMB) ended its 2007 financial year,
with 171 per cent increase in profit before tax. The bank
recorded N7.6 billion in 2007 to N20.52 billion exceeding
its 2008 forecasts by a margin of approximately 10 per cent.
The Gross Earnings grew by 112 per cent in the same period
to N52.82 billion from N24.9 billion.
The bank closed the year with an asset base and contingents,
of N587 billion, a growth of 90 per cent over the previous
year and following its highly successful public offer in 2007,
the bank also recorded a significant growth of 330 per cent
in its Tier 1 capital, from N31.2b to N133.7billion. |
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There is a proposal of 50 kobo per share up by
43 per cent from previous year.
The results affirm the bank's strength as indicated in a recent
rating report on the bank by Standard and Poor's, which cited robust
capitalization, a strong earnings profile and a focused strategy
as some of the bank's key positive attributes.
Basic Earnings per Share (EPS) increased by 115 per cent from 63
kobo in 2007 to 135 kobo in 2008, also ahead of its 2008 forecasts
of 101 kobo. Going by the current market prices, FCMB could be placed
as one of the best value stocks in the market on a trailing price
earnings ratio basis.
More so, the bank's operations with its cost to income ratio improved
from 59 per cent to 49 per cent over the same period and its earnings
remain well diversified; a 48 per cent: 52 per cent split (Interest
Income: Non-interest Income) demonstrating less reliance on interest
income.
This is a development in the right direction giving the fact that
interest rates have been on the increase in the money markets and
net interest margins are therefore becoming tighter for the industry
as a whole.
The Group Managing Director, Ladi Balogun has credited this impressive
performance to the clarity and successful implementation of the
bank's business and people strategy.
“The result, which is beginning to emerge, is a business that
is growing significantly faster than the industry, a business with
higher margins and sustainable diversified revenue sources.”
Balogun said further: “We will also continue to push for leadership
in the consumer banking space, having invested significantly in
distribution infrastructure, product development, technology, and
human capital.
Interestingly, this business will break even in the current financial
year, to become a major revenue earner for the bank, and we expect
it to contribute over 25 per cent of the bank's net income four
years from now”.
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| Diamond
Bank Donates Patrol Vans To Ebonyi |
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Following
incessant bank robbery in Ebonyi State, Diamond Bank Plc
has donated five Nissan police vans to the State government
to compliment its security programme.
Handing over the vehicles to Governor Martin Elechi at
the Government house Abakaliki, the Managing Director
of Diamond Bank Plc, Emeka Onwuka appreciated Elechi's
projects in the state and said his organization is impressed
by them and is complimenting his role with the donation.
Onwuka said, “We are appreciative of the unity bridges,
the water, Bio-Gas, education and other projects being
executed by the state government. We are also supporting
and
partnering with the people and the government |
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for security
in all the States.”The Managing Director stated that in
eight years existence of Diamond Bank in Ebonyi State, there
have been cordial relationships that exist between the bank
and the citizens of the State.
He maintained that the bank will continue to partner with the
State government in the areas of infrastructural development,
adding that it is determined to support the State in beefing
up security. |
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Dana
Motors Partner First Bank In Online Car Finance Deal
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Dana Motors Limited
has entered into a new partnership deal with First Bank Nigeria
Plc towards entrenching its new car acquisition scheme in the
Nigerian automobile industry.
Dana Motors which is the authorized distributor of Kia brand
of automobile in the country recorded another first when it
introduced a four-year leasing scheme in Nigeria through its
partnership with Oceanic International Bank Plc and has expanded
the leasing scheme through its partnership with UBA Plc on a
five-year leasing arrangement.
The firm's marketing manager, Chetan Mehan, described the new
scheme as Economic Stimulus Package and an opportunity to make
dreams of owning a brand new Kia by many come true. |
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By the new arrangement,
customers were expected to make a 10 per cent down payment for any
Kia brand of cars, instead of the usual 20 per cent deposit. The balance
would, thereafter, be spread over a 60-month period of five years.
“To also make it easier and convenient for customers, Dana
Motors Limited has introduced online transactions so that customers
can access the service without necessarily visiting Dana Motors showroom,”
Mehan said.
He stressed the company's commitment to the delivery of quality products
and services to its customers and stressed that Dana Motors Limited
has been known for initiating creative and innovative ways of meeting
customers.
“We will continue to exceed our customers'
expectations through our value added services to them and we will
be introducing a number of products and services that are bound to
excite our customers during the second half of this year. Our vision
at Dana Motors is to provide quality products at reasonable prices
to our customers”.
According to him, with the latest initiative, the automobile company
will consolidate its position as a front-runner in automobile leasing
but explained that the scheme is the most affordable way to own a
brand new car.
“Experienced automobile users will understand
that the cost of maintaining fairly used car will always surpass the
cost of purchasing and maintaining a brand new Kia. We have started
the Kia lease promotion to highlight this to the buyers. The aim is
to restore the new car culture to Nigeria, and thereby discourage
Nigerians from using imported fairly vehicles, otherwise known as
Tokunbo. |
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