COMFORT EKELEME
After many years in the doldrums and following its most recent acquisition by Sigma Golf – Riverbank consortium, indications are rife that the moves by the new management team at Keystone Bank Limited has begun yielding fruits.
The Bank for the quarter ended March 2018 recorded a Profit Before Tax of N3.72billion, compared with a loss of N2.79billion over the same period in 2017. Deposit grew 42 per cent or N84billion to N283billion at the end of the quarter March 2018.
Keystone Bank recently posted its first quarter financial results which indicate tangible profits in just eight months of taking over the helm of affairs after many years of struggling to stay afloat.
Recall that following the successful completion of Asses Management Corporation of Nigeria (AMCON’s) divestment from the bank, a five-man transitional board was set up to oversee its re-positioning for growth and competitiveness. The transitional arrangement was successfully concluded on August 15, 2017 with the assumption of office of the substantive Managing Director/Chief Executive Officer.
In less than one year, the bank has experienced tremendous transformation in all ramifications. Aside revamping all its branches across the country and bolstering its workforce, it has invested substantially in technology and developed fully integrated service models that enable customer’s access banking services through a wide range of channels. The Keystone mobile banking application boasts of several unique features such as the ability to bank with zero data, the Oxygen Chat Banking and several others that have re positioned the bank to compete effectively in the sector.
Speaking on the development, the Group Managing Director/Chief Executive Officer of Keystone Bank Limited, Mr. Obeahon Ohiwerei said, “This achievement is a testament to the hard work and resilience of the management and staff of the bank. From inception it has been our vision to restore the confidence of all our stakeholders with tangible results and we are indeed pleased with this start.”
Mr. Ohiwerei stressed that this was only the beginning of greater things to come, noting that the team was set to double its efforts in meeting and surpassing the expectations of its customers. “It was not an easy journey.
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