Standard Chartered Bank Deposit Drive

Fri, Feb 21, 2014

By publisher

4 MIN READ

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STANDARD Chartered Bank is out to reward the efforts of its loyal customers. In this regard, it has rolled out a promo tagged, ‘Mega Rewards Promotion.’ Carol Oyedeji, regional head, consumer banking, West Africa, said the promo was part of the bank’s strategy to identify with customers as well as improve their saving culture.

She said that the promo, which began on February 17, required both existing and new customers to deposit the sum of N50, 000 in their account for a period of two months to qualify for the mini draw. Oyedeji, added that keeping the same amount for three months would qualify one for the grand draw to win a Porsche car.

“To participate, new and old customers of the bank are simply required to deposit and maintain a daily minimum balance of N50,000 for two months, which will qualify them for the mini draw and if they are able to maintain it for three months, that will qualify them for the grand draw,” she said.

No Cause to Worry on Microfinance Banks

THE Central Bank of Nigeria, CBN, has confirmed that most of the microfinance banks in the country are in sound health and that their performances are generally satisfactory. It noted that apart from the regulatory functions it carries out on the microfinance sub-sector, the banks were also being supervised by the Nigeria Deposit Insurance Corporation.

Olufemi Fabamwo, director, other financial institutions supervision department, said that the central bank had put in place measures to ensure that MFBs comply with the regulator’s guidelines. “All MFBs are examined at least once a year, while some are examined more than once, depending on the exigencies of the situation, with follow-up visits to ensure that examiners’ recommendations are implemented and corrective actions are taken by the operators of the MFBs in order to engender stability in the microfinance space,” he said.

He also said the CBN was committed to the growth of the industry, and that there was no plan to shut down 600 MFBs  as indicated in a recent media report. He noted that the report could result in the de-marketing of microfinance banks and thus, undermine public confidence capable of precipitating panic withdrawals by depositors and investors in the MFBs.

Fabamwo advised the investing public and depositors of microfinance banks not to panic because the report could adversely affect the growth of nascent microfinance industry in the country. He, however, urged depositors and the investing public not to waver in their support for the microfinance industry.

Enterprise Bank Re-positions for Service Delivery

ENTERPRISE Bank Limited has restated its commitment to improved services as the cashless policy introduced by Central Bank of Nigeria, CBN, enters its second year of implementation Olusola Okenimkpe, head, corporate communications, said that the bank had subsequently boosted its electronic transactional systems across the nation.

Okenimkpe said, “Enterprise Bank has ensured that those that will patronise the different platforms and channels through which the bank serves the public will continue to enjoy seamless banking services, especially now that the bank has fully strengthened its ATMs, PoS terminals, mobile and internet banking services across the various outlets in the country.

“Through the internet banking channel, for instance, customers will be delighted with the different platforms, which allow banking transactions from the comfort of peoples’ offices and homes anywhere in the world.” According to the bank, such transactions range from checking account balances, viewing or downloading statements of accounts, requesting for cheque books and banking transfers to as much as N10million at a go.

Compiled by Chinwe Okafor 

— Mar. 3, 2014 @ 01:00 GMT