First City Monument Bank (FCMB) Limited has further positioned its brand to create more value for its growing customer base and other stakeholders.
The bank thrives on business philosophy of attaining the highest levels of customer advocacy to consolidate its position as a foremost brand and inclusive lender.
In the current year, the lender plans to grow substantially in retail banking by adding over 600,000 customers to the existing 3.2 million at the start of the year. Smart branching and technology will play an equally important role in attaining this objective.
In 2014, FCMB achieved an additional 500,000 customers, thereby becoming one of the fastest growing retail banks in the country; in 2015, the bank acquired an average of 55,000 new customers monthly and disbursed 20,000 new loans, with over 2,000 monthly to women-owned micro-enterprises.
It currently has about 700 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.
Added to these is the strategic location of the bank’s business outlets (branches and alternate channels) nationwide; providing prompt and convenient banking solutions as well as promoting financial inclusion in line with its values as a simple, reliable and helpful entity.
Only three weeks ago, the FCMB opened another branch at Gbagada, in Lagos. This is in line with the expansion plan of the bank to extend its reach and make its services accessible to customers and members of the general public.
Speaking on these developments, the Group Managing Director/CEO of the Bank, Ladi Balogun had said, “we have a great foundation to continue to build on and we are confident that our strategy is building the necessary resilience. We will continue to reinforce our position as an inclusive lender by supporting sectors that will drive the prosperity of the markets in which we operate. We will also bring greater accessibility to a broad range of financial services. By doing so, we will continue to strengthen our resolve to build a very resilient financial services franchise.”
Balogun added that, ‘’we will be the bank that everyone wants to bank with, do business with, and turn opportunities into realities. That is because we stand for professionalism through respecting customers and colleagues and following through on promises. We stand for sustainability through responsible actions and making a positive impact. We are customer-focused by listening, responding and acting on what others want. We set high standards and always aim for continuous improvement in pursuit of excellence.”
With this bold statement by the management of the bank, coupled with its niche for excellence and a clear understanding of its market and the environment, industry watchers are of the view that the FCMB brand is well positioned to create more value for its growing customer base and other stakeholders.
Analysts are also of the view that ability of the Bank to constantly reinvent itself, people and processes in tandem with the current and emerging dynamics of the environment is largely on account of its age-long “Culture of Excellence and Professionalism.”
Over the years, banking in Nigeria has progressed from the traditional financial service activities to become a core part of the lifestyle of individuals, businesses and societies.
Iheanyi Nwachukwu
