City Express Bank Highlights Strategies
City Express Bank Plc, Chairman, Prince Samuel Adedoyin, has shed more light on the Bank's strategic plans to meet the Central Bank of Nigeria's new regulations, assuring all customers of the security of their deposits.
In a statement, Prince Adedoyin disclosed that the Board of the bank had since commenced talks with other credible banks in Nigeria with a view to, not only meeting the N25 billion capitalization, but to come up with a formidable financial institution that can compete in the global market.
Adedoyin noted that even before the Central Bank of Nigeria's recent pronouncement on family banks, the Board of the bank had worked extensively on strategic partnering with other banks who share similar vision.
The Chairman further stated that the bank as a law abiding citizen will comply with the instruction and policy statement of CBN and govemment. He noted that the board was not averse to bringing in more investors as this can only make the bank stronger.
"We can only come out even stronger and more formidable after this exercise and one is elated that our numerous customers across the country appreciate this fact, he said.
"He went further that the board "hereby express its sincere appreciation to the bank's customers for their loyalty and understanding. We can only reassure them that their deposition are secured and their bank would come out even stronger and heathier at the end of the day."
"We have made remarkable sacrifice to put in place a financial institution that will live after us, we are ready to make further sacrifice. We are determined to ensure that our customers' confidence in us is not misplaced," he added.
Top offcials of the bank had disclosed that the staff are being reoriented on the current challenges while operations in the branches are being strengthened to attract more deposits an reassure customers.
The bank is also making moves to deepen its liquidity position through offshore funding. It was learnt weekend that the bank had commenced talks with one of the top 5 international financial institutions with presence in the USA and UK.
It will be recalled that City Express Bank had shortly after the CBN announced the new capital base, assure customers of its resolve to meet up with the challenges. The board had also noted that the bank's liquidity position will not be affected by CBN's directive that public fund be withdrawn from banks.
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