• Thursday, June 13, 2024
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BusinessDay

Herbert Wigwe: Excellence and the Banker extraordinaire

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It is a widely acknowledged fact that what brings the best out of the workforce of any establishment or institution is Motivation. According to Business Dictionary, “motivation is internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject, or to make an effort to attain a goal. Motivation results from the interaction of both conscious and unconscious factors such as the (1) intensity of desire or need, (2) incentive or reward value of the goal and (3) expectations of the individual and of his or her peers. These factors are the reasons one has for behaving a certain way.”

Ever since he assumed the position of the Group Managing Director of Access Bank in 2013, Herbert Wigwe has either initiated or sustained existing organizational policies in motivating Access Bank Staff optimally, most sought after and even an envy of every other business entity in Nigeria and Africa.

In a bid to give Bank staff a balanced lifestyle, the Wigwe led organisation demonstrated it places a premium importance on the mental and physical wellbeing of its resources with the decision to set up the Access Recreation Centre (ARC). The centre, which has a state of the art eating cafeteria for staff, a Standard Gym where staff are encouraged to carry out daily routines of exercise for no fee with the help of a gym instructor on hand for physical training. Asides that, the bank also engaged a Zumba instructor who takes dance fitness classes.

To further support its staff and family life, the bank under the Herbert Wigwe leadership saw to the establishment of a creche for staff members babies between the ages of 3 months old to 1 year.

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Herbert Wigwe

A gesture and obvious demonstration of total commitment and care by the organisation to its staff especially those with tender and young children. No doubt the impact of this investment would not only help the staff better balance their personal life matters, it will also impact on the Bank’s performance. Indeed, one can confidently infer that motivation and staff welfare investments are contributing factors to organization growth and performance. Aside the social welfare plans, the Bank places a huge premium on training and retraining so as to increase knowledge base, maintain standard practice and also keep up with global business trend. In driving this, the Bank has sustained its yearly scheme of middle management cadre training at the Wharton Business School- a laudable and valuable investment indeed.
These policies, programmes and much more either initiated or sustained by Herbert Wigwe have brought about a highly motivated and committed workforce delivering a consistently impressive business performance year on year.
In 2015, the bank improved efficiency in driving profitability by a 38 per cent increase in gross earnings, from N245.5 billion in 2014 to N337. 4 billion with Interest income and non-interest income contributing 62 per cent and 38 per cent, respectively to the gross earnings. Commendable performance was recorded in the Non-interest income jumping by 89 per cent to N129.450 billion from N68.429 billion. Profit Before Tax (PBT) grew by 44 per cent from N52 billion in 2014 to N75 in 2015 Profit After Tax (PAT) which was up 53 per cent from N43.1 billion to N65.9 billion. Whilst Return On Average Equity (ROAE) improved from 16.5 per cent in 2014 to 20.4 per cent in FY 2015, indicative of the bank’s commitment to maximising shareholder returns.

No doubt Access Bank Plc is the pride and toast of the financial sector and Herbert Wigwe, the natural Guru of the banking industry.