GTBank Loyalty Reward

Peter Amangbo, CEO Zenith Bank

GUARANTY Trust Bank Plc has announced the introduction of its new loyalty scheme exclusively for holders of its credit card. According to the bank, the loyalty scheme is developed in partnership with Avios, a leading global travel rewards company. The bank said the initiative was part of its overall strategy to bring the best in card products to its customers.

The bank also said it would reward its international credit cardholders who are also members of the British Airways Executive Club Programme, for using the card to pay for purchases through point of sales terminals. Segun Agbaje, managing director, GTBank, said with the new GTBank credit card loyalty scheme, every card holder will collect one Avios for every $2 spent on the card. According to him, the cardholder can use Avios for flights worldwide with British Airways and Oneworld airline partners.

Agbaje, said that the bank believes that it is important to anticipate customers’ desires and tailor the most rewarding experiences for them. “The collaboration with Avios to introduce rewards on credit card spending cements our position as the best bank in Nigeria, in line with our strategy to serve our valued clients locally and globally. We are thrilled to pioneer this initiative, which will run till March 26, 2015.”

Nick Pilbeam, director of New Markets and Business Development, Avios, said: “We are always looking for new ways to provide British Airways Executive Club members with accessible ways to collect Avios. Our partnership with Guaranty Trust Bank is a real step forward for members in Nigeria because providing them with an easy way to build their Avios balance and enjoy the multitude of flight and travel rewards open to them.”

Zenith Bank’s $500m Eurobond over-subscribed


INTERNATIONAL endorsement of industry’s leadership of Zenith Bank Plc has continued to soar. This has been reflected in the 200 percent over-subscription recorded in its $500million Eurobond issue. The $500million Eurobond is under a $1billion Global Medium Term Note programme announced by the bank on April 1, 2014. The bank’s weeklong investors’ road show, coordinated by Goldman Sachs and Citibank, received an overwhelming endorsement by a diversified group of global investors from Europe, the United States, Africa, Asia and the Middle East, the bank said.

In a statement, the bank said investor’s perception of Zenith’s domestic market leadership and its strong balance sheet defined by its liquidity, asset quality and capital adequacy are among the major factors driving the overwhelming acceptance of the bank’s first ever debt issue. This, the bank said, elicited investors’ appetite for its shares currently trading on both the Nigerian Stock Exchange and the London Stock Exchange.

Zenith bank said its conservative approach to banking had been exemplified by its robust capital adequacy ratio of 26 percent as at December 31, 2013, strong liquidity ratio of 64 percent, prudent loan to deposit ratio of 55 percent and strong risk management culture. Meanwhile, Zenith Bank said two leading rating agencies, Standard and Poor’s Ratings Services and Fitch Ratings, had rated both the programme and the first tranche of $500million issued as BB- and B+, respectively.

Ecobank Promo Winners

Jibril Aku, chairman, Ecobank
Jibril Aku, chairman, Ecobank

ECOBANK Nigeria has rewarded a new set of winners of its Card 4 Prizes promo in the second monthly draws held simultaneously in Lagos, Port Harcourt and Abuja recently. In a statement,  the bank said 15 lucky winners, which emerged from the electronic draw witnessed by officials from National Lottery Regulatory Commission and the Consumer Protection Council went home with different prizes.

Some of the prizes included smartphones, Led TVs, air conditioners, home theatres and power generating sets. Tunde Kuponiyi, head, cards and e-banking, Ecobank Nigeria, said that the promo which started in February, was gradually achieving its objectives as more customers of the bank have now utilised the alternative payment channels that include ATMs, Point of Sales terminals and internet banking.

According to him, ‘a point- based rating’ is usually applied when selecting winners, noting that customers are awarded points for every transaction done on the bank’s alternative channels. He stated that the grand finale draw, which would also hold in the three centres in May, would be based on total accumulated points during the course of the promo.

Chinyere Iloene, senior Surveillance and Enforcement Officer, CPC, who witnessed the Port Harcourt draws, commended the transparency exhibited in the process. She applauded the bank for its tradition of rewarding customers, noting that the card promo would further promote business transactions.

Compiled by Chinwe Okafor

— Apr. 28, 2014 @ 01:00 GMT

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