AFRIBANK Plc has recorded a mileage thought the growth part it started towing recently.
To this end the bank has assured its customers that a new dawn of positive change and development has come with the skilled and experienced management team, which will take the bank to assume its pride of place.
Mr. Nebolisa Arah, managing director/chief executive stated this in Lagos , adding that the bank has withered many storms and survived, which gives the bank confidence of overcoming the present challenge.
According to him, “what we passed through were testing times, but like most Nigerians, we are resilient and with the worst behind us, we can look to the future with optimism. We have strong, skilled and experienced team that has the willingness, commitment and experience in bank turnaround management and the result in October and November are pointers tour future”.
“We have carried out a comprehensive review of our operations and structure to address the issues that the bank has faced. Our focus on this review process among other goals is on maintaining an enhanced liquidity position, implementing an improved risk management framework and control environment”, he added.
The review process according to him also focuses on “putting in place better internal reporting procedures to minimize the risk of any reoccurrence of the situation we recently experienced”. 
Mr.Arah appreciates the continued loyalty of the bank’s customers, stakeholders and the Central bank of Nigeria (CBN) in maintaining stability in the banking system.
Also speaking on this issue, Joke Giwa, executive director, Operations, Commercial and Retail Banking, stated that the two year turnaround plan has started yielding results which she listed to include recovery of over N42 billion out of its outstanding loans, repayment of over N11 billion of exposure on the Expanded Discount Window (over 50 percent of the exposure before intervention), emphasizing our improved liquidity position, positive clearing position from the previous substantial deficit to N3.2 billion surplus by November 30, 2009. This according to her shows enhanced customer confidence and improved liquidity of the bank.
Others are growth in WDAs market share from 0.18 percent in September to 40.5 percent in October 2009, particularly with commercial and corporate customers. So also improved efficiency via outsourcing of our teller will provide cost savings of over N1 billion per annum.
This she according to her is designed to process the bank’s customers’ cash transactions faster.
She noted that this is combined with the up-skilling and redeployment of previous tellers to more enriched job positions within the bank. She also noted that the massive restructuring of strategic business units already yielding results in improved customer relationship management.