Bank PHB introduces VAS to ATMs

Akin Adewakun, Lagos

Francis Atuche, MD, Bank PHB

Bank PHB introduces VAS to ATMs tion Notification Service (Bank PHB TNS) to a more robust and reliable platform. This will guarantee faster SMS notification of all transactions (debit & credit) across all its service channels (over the counter, web, ATM, PoS terminal, etc). Email notification on this platform remains free.

The SMS and email notification to customers is triggered whenever any transaction is done on a customer’s account increasing transparency and reducing the customer’s exposure to fraud.

It is also a reliable means of communicating account balances to customers reducing their need to visit the bank’s premises and concentrate on their business. Observers in the banking industry believe these new service offerings will greatly increase the banking service convenience available to Bank PHB customers.

The new banking services also has the potential of increasing Bank PHB earnings which just announced a 316 percent increase in its half year profit for the period ended December 31, 2007.

The just released result shows the bank sustaining its above industry growth rate as earnings for the first six months of its 2008 financial year showed the bank raking in gross earnings of N34 billion as at December 2007, a 195 percent increase over the N11.35 billion the bank announced in the same period ended December 2007.

Widely reputed as banking industry’s fastest growing Bank, Bank PHB has over 140 branches with a unique external façade that stands it out in the industry. It is currently ranked as the 8th largest bank in Nigeria.

Union Bank still the best agric/SMEEIs bank - CBN

Akin Adewakun, Lagos

Barth Ebong, MD, Union Bank

Union Bank of Nigeria Plc has again retained the Best Agricultural Support Bank for year 2006 under the Agricultural Credit Guarantee Scheme Fund (ACGSF) of the Central Bank of Nigeria (CBN), making the 30th time it will emerge the overall winner of the award since inception.

The bank also carted away the Best Bank for the Finance of the Small and Medium Enterprises Equity Investment Scheme (SMEEIS) for 2006.

Financial analysts said that the awards attested to Union Bank’s penchant for developing the real sector of the economy over the years.

Presenting the awards to the bank’s Executive Director (Operations – South), Mallam Ado Abdullahi, during the Annual Microfinance/Entrepreneurship Awards held in Abuja recently, the CBN Governor, Professor Chukwuma Soludo, said Union Bank had the highest percentage score in terms of investments relative to the set aside funds, as well as geographical spread and sectoral allocation.

He also stated that the bank had been consistent in excelling in credit purveyance to the rural populace for over eight years. “In 2006, Union Bank guaranteed a total of 40,855 loans valued at N3,383,303,460 only. The performance represented 79 per cent and 82 per cent in terms of number and value of loans disbursed by all the commercial banks under the ACGSF,” Professor Soludo stressed.

He added that the bank was noted for its product, the Civil Service Farming Scheme and had added the patronage of the Trust Fund Model in some states of the federation.

Similarly, four of the bank’s customers won national awards under the ACGS while Beauty Base Limited got the Best Entrepreneur (Small Business Model) award under SMEEIS.

Alhaji Sani Mohammed Ma’aji emerged as the Best National Farmer (Arable Crop); Chief Titus Asaju became the Best National Farmer (Tree Crops); Professor Martins Anetekhai got the Best National Farmer (Fisheries) while Dedora Farms Nigeria Limited emerged as the Best National Farmer (Poultry).