By Stanlay Opara

Tuesday, 15 Feb 2011

Intercontinental Bank Plc is set to review its retail banking strategy and pay greater attention to customer-friendly products deployment. This is expected to be driven by electronic banking and backed by efficient service delivery at all levels.

The bank in a statement on Monday said this was with a view to optimising its financial performance for the year 2011.

The Group Managing Director/ Chief Executive Officer, Intercontinental Bank, Mr. Mahmoud Alabi, who spoke at the bank’s annual management seminar, was quoted as saying that the bank initiated the strategic deliverables to reposition its service delivery and improve its bottom-line.

Alabi, who declared open the seminar, said, “The future of the bank will be linked with a new retail banking model that will set the pace in the banking industry.”

He, however, canvassed for a radical growth of the bank’s deposit through collections and marketing of retail products. He explained that the bank would enshrine a robust risk management culture and a healthy risk assets base with a view to ensuring that its asset quality remained very high.

The Intercontinental Bank boss projected that monumental changes would occur in the structure of banking in the country, with each bank focusing on its niche market where its strength could be efficiently deployed to extract value.

Alabi also urged its top management to cultivate new attitudinal change and continuously devise strategies to return the bank to reckoning in the industry, build synergies and value on scale unattained by any other financial institution in the country.

Source: Punch