FBNH delivered its fact behind the figures on the floor of the NSE yesterday detailing an overview of their performance last year. In the report, the bank acknowledged the difficult regulatory environment in which they operated and how it has affected their business. They also suggested the following remedial steps that is being taken to mitigate against the losses incurred due to regulatory policies.

  • Public sector deposits now priced at near zero
  • Providing financial services to the entire public sector value chain and related businesses
  • Acquiring new customers along priority segments (emerging corporates and retail)
  • Deepening and expanding the scope of commercial banking business to enhance focus on middle market
  • Additionally, expanding retail assets in the SME space for greater transaction velocity especially within the trade finance business 
  • Sweating existing assets and leveraging alternative distribution channels to provide superior services to customers whilst unlocking additional revenue streams
  • Introducing Transaction Banking to aggressively drive fee-based income
  • Efforts to drive cost efficiency through 1. Drastic reduction of new branches and closure of some unprofitable ones 2. Maintaining an appropriate staffing structure and work force alignment. Improving workforce productivity/ Earnings per employee measurement 3. Optimising procurement and operational spend
  • Geographical diversification of earnings base by increasing contributions from regional banking subsidiaries and trade finance transaction through FBN Bank UK

Do you think it will work? The fact behind figures can be located here



Coronation Research


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