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Federal Government Girls College Owerri • View topic - how staffcentric is your bank?

how staffcentric is your bank?

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how staffcentric is your bank?

Postby jiggaman » Fri Jan 04, 2008 11:17 am

this is not only for those in the banking industry, others too can contribute.
How staff friendly is your bank?. 2008 is already throwing up some very funny policies.

i saw this somewhere, before then, thisday said something about it last week.

ERASTUS AKINGBOLA, Inter-Continental Bank MD Bizarre AMENDMENT TO POLICY ON DEPOSIT MOBILIZATION

Last View on Sun 30th December, 2007
Last Modified on Sat 29th December, 2007 12:45:18 am
Author: Posted by Admin Letters

om: Akingbola Erastus
Sent: Thu 12/27/2007 9:34 AM
To: All Intercontinental Bank Employees
Cc: Executive Management
Subject: AMENDMENT TO POLICY ON DEPOSIT MOBILIZATION


TO: ALL STAFF



FROM: GROUP CHIEF EXECUTIVE



SUBJECT: AMMENDMENT TO POLICY ON DEPOSIT MOBILIZATION



DATE: 24RD DECEMBER, 2007



A review of the total deposit position of the Bank month on month reveals that the Bank is running short of its planned monthly deposit target.



The negative variance in our deposit position is attributed to the fact that staff are not marketing our various deposit liability products and thus not meeting their targets. In addition, some account officers do not exert proper relationship management skills with their customers. As such, most accounts under their management do not witness any activity for months and some become dormant after six (6) months.



To engender a consistent and sustainable growth in our bank wide deposit position, the following will now apply effective January 2, 2007:



v For every month that staff (service or marketing ) does not achieve up to 60% of monthly deposit target, staff will be debited as follows:

1st Month: N5, 000.00 (marketer); N2, 500.00(service staff)

2nd Month N10, 000.00 ,, ; N5, 000.00 ,,

3rd Month N15, 000.00 ,, ; N7, 500.00 ,,



Thereafter, staff will be sent on suspension.



v Any non-borrowing current account that records no activity in a month, the account officer(marketing officer) will be debited N1, 000.00 (One Thousand naira only) per a/c

v If the a/c is not tagged to an a/c officer, the Branch head / GE will be debited as appropriate

v For Dormant accounts the following will apply: Marketing officer that allows an a/c being managed by him/her to go dormant will be debited N10, 000.00 (Ten Thousand naira only) monthly until the account is re-activated.

v If the a/c is not tagged to an a/c officer, the Branch head / GE will be debited as appropriate, except in cases where it is proven beyond reasonable doubt that the customer cannot be remarketed.e.g Death, relocation etc.

v For regions where more than 50% of staff are sanctioned on deposit related matters, the RBEs will each be debited N10, 000.00 (Ten Thousand naira only) monthly.

v After the 3 rd month, the RCEs will be debited N20, 000.00 (Twenty Thousand naira only).



Please be guided



ERASTUS B. O. AKINGBOLA




what do you think?
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Postby blackie » Fri Jan 04, 2008 11:42 am

nhia???? Please I'm coming, this one pass me o...
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Postby blackie » Fri Jan 04, 2008 1:11 pm

ehen, that what? you're having a laugh, right?...something tells me you're not though...

Please how much are these people paid that you'll be debiting them left right and centre? And who takes the money? This one is more than staff-centric or not - it's plain daylight robbery and bullying!

And why do service staff have to raise deposits as well? This is madness. Sadly, despite all the shakara in recent years, the Nigerian banking industry hasn't quite got it right. I always wonder why Nigerian banking revolves so much around deposit generation. What about the lending side of it? Infact let me not start ranting because it won't help. If you can leave the industru jare, jigga, leave cos it stinks!
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Postby chinelo » Mon Jan 07, 2008 9:46 am

Funny enuf a family friend working at the above-mentioned bank came lamenting just b4 xmas with these policies.1st thing we told him was to save himself by getting out of the job but come to think of it ....leave a job?....in naija?where millions r unemployed and would kill to have ur job?. The guy gree say the policies r tyrannical but others r staying put and so would he until an alternative comes along. Bank job here in naija is murder,i just hope the rumors that they r well paid is true....so at least they have sumtin to look forward to.
Let's not even get started on meeting their targets. We jokingly told him that the only way to hold fort is land some serious 419 accounts and without missing a beat he asked if we knew any 419ner.....
I know God will not give me anything i can't handle. I just wish He didn't trust me so much
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Postby shaded » Mon Jan 07, 2008 11:59 am

So you guys are telling me this thing is true. I assumed that it was one of those made-up emails that circulate on the web. Na wa oh. It is emails like this that make me very sceptical of the long-term viability of investing in Nigerian bank stocks. It will make money in the short-term but what is the growth story based on? Just deposits?

This is a simple management story...if you incentivise the wrong things, you will get the wrong result. So people are incentivised to get people to open accounts and are rewarded for it but what is the plan to manage those accounts and make those accounts productive...nothing.

For the banking gurus here, abeg educate me but in most countries current accounts are used as loss leaders to attract people into a bank who will then be sold other services such as loans, mortgages, savings products etc, that is where the real money is. What happens in Niger?
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Postby blackie » Tue Jan 13, 2009 8:32 am

Things haven't changed, have they? And who the eck was jiggaman? and where is chinelo?
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Postby horizon » Tue Jan 13, 2009 9:57 am

hey good to see jiggaman.....at least more ppl r coming back and the thread is coming to life once again.........

anything is possible in naija! but i think this is a spoof.dont beleive this one
e don happen
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Postby blackie » Tue Jan 13, 2009 12:45 pm

horizon wrote:hey good to see jiggaman.....at least more ppl r coming back and the thread is coming to life once again.........

anything is possible in naija! but i think this is a spoof.dont beleive this one


I'm trying...doing my bit for the online community, innit?
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Postby horizon » Wed Jan 14, 2009 12:42 pm

blackie r u jiggaman too? :roll: 8O
e don happen
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Postby uluisrare » Thu Jan 15, 2009 2:08 pm

ehe, a di ghi a ma ama...
please who knows anyone with a HND degree in secretarial studies...
i know of an opening..
he/she will be getting at least N90k monthly..... with lots of other benefits...
Please hit me up asap...
If swimming is so good for you why are whales so fat?
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Postby uluisrare » Thu Jan 15, 2009 4:46 pm

it would be easier for me to see the response to this on this page via this forum not in a pm as i might not log in to check....
so please anyone who knows anyone.... kindly indicate on this forum then i wld send u a pm.... thanks ladies...
If swimming is so good for you why are whales so fat?
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Postby horizon » Fri Jan 16, 2009 11:21 am

its great of you to think about us here for that opening....WELL DONE ULU.
e don happen
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Postby nekababy » Fri Jan 16, 2009 11:53 am

uluisrare wrote:ehe, a di ghi a ma ama...
please who knows anyone with a HND degree in secretarial studies...
i know of an opening..
he/she will be getting at least N90k monthly..... with lots of other benefits...
Please hit me up asap...


Ulu abeg where is the job at? Lagos or Abuja? I know someone who needs a job.

Thanks...
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Postby uluisrare » Mon Jan 19, 2009 7:05 am

nekababy wrote:
uluisrare wrote:ehe, a di ghi a ma ama...
please who knows anyone with a HND degree in secretarial studies...
i know of an opening..
he/she will be getting at least N90k monthly..... with lots of other benefits...
Please hit me up asap...


Ulu abeg where is the job at? Lagos or Abuja? I know someone who needs a job.

Thanks...


abuja ooooooo... if the person is in abuja, and the person can hit me up and see me today sef, perfect....!
pls let me know asap.. i will pm u my number...

@ rizon: u know we r incredible on this site, so righ tnow i am not sure that was a compliment or a tease :P so assuming it was a genuine, heartfelt compliment :-D , "thank u"
but if it wasn't.... i suck air thru my incisors for u....

(P.S Please where is k.k? having too much fun to remember us eh?
snr trish? where r u? i miss ur posts...
so far blackie is proving to us that marriage need not take u from this site... ok, i am counting and seeing how long we wld have her attention... lol)
If swimming is so good for you why are whales so fat?
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Postby blackie » Mon Jan 19, 2009 7:22 am

Okay ulu please can I vary the person spec a bit, I have two prospective candidates; both in Abuja - the first one has an OND in Secretarial Studies and a Bachelors degree in Mass Communication, and currently works in a bank but will be thrilled to bits to leave; the second has an HND in...Quantity Surveying and post NYSC isn't working yet. Okay I know it's a bit of a long shot but I can only try :lol:

don't worry nothing shall separate me from the love of this site :D let's watch out for you instead!

Cheers
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