Afribank Nigeria Plc has drawn up strategies to grow its retail market across the network in line with broad business plan for the year.
The bank has, in the process, strengthened its Retail Strategic Business Unit (SBU) teams to identify and support new retail business and also focus on assisting medium and big retail businesses to operate at full capacity.
The bank has also reviewed its product papers for different market segments in line with market demands and customer’s expectations.
Afribank organized customer fora. The market feedback has aided its customized product papers for its Consumer Finance products (which is designed to help people finance and own personal assets), Afribank School Support (for school proprietors), Afribank Facility Against the Next Salary Tranch to help salary workers meet urgent obligations, among others.
“We have created products that will impact positively on the lifestyle and standard of living of customers while growing liability for the bank with a view to delivering satisfactory investor returns”, Mr. Victor Ohuoba, General Manager and Retail SBU said at a strategy session last week.
Savings account customers are also been rewarded with free corporate gifts as part of the incentives to encourage them to save more with the bank and grow the bank’s liabilities.
Retail SBU staff of the bank were also exposed to various customer service trainings and are now equipped to offer seamless services with customer empathy.
The bank has also equipped its transactions support Units and widen its payment channels to offer excellent services 24/7.
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Afribank Strategizes to Grow Retail Market