Markets

Enterprise Bank Positions for Growth

Enterprise Bank Limited said it recently conducted a resource optimisation exercise meant to ensure the development of a high quality workforce.
 
 
A statement said the exercise which led to the disengagement of poor performing members of staff from the bank was to ensure that only the best hands were retained in the system in order for it to render more quality services to its growing clientele and remain relevant in a highly competitive environment.
 
 
“The key criterion that guided the recent exercise in the bank is the performance record of affected staff, which spans over a period of time,” it added.
 
According to the statement, the management would not compromise standards in its avowed desire to ensure that Enterprise Bank emerges as an enviable financial institution.
 
 
“However, in line with industry practice and in order to cushion the effect of the optimisation exercise, payments are being made to the affected staff based on their entitlements,” it stated
 
 
The statement further wished the erstwhile members of staff well in their future pursuits.
 
However, at the close of trading Tuesday, the ASI declined while value of trading rose. Specifically, the benchmark index fell by 0.23 per cent to close at 38,955.42.
 
But  Zenith Bank’s shares lifted the trading volume as investors reacted to the award it won from the Banker Magazine. As usual, the financial services accounted for the highest volume of trading, recording 226.574 million shares valued at N2.558 billion in 2,780 deals. 
 
 
Zenith Bank accounted for 52 per cent of the value as investors   staked N1.324 billion on 62.157 million units of the bank, a development, some market operators linked to the award.
 
 
The Banker Magazine, a publication of Financial Times of London, named Zenith Bank, the ‘Bank of the Year Nigeria 2013.’
Usually, nominees for the award are judged by their ability to deliver shareholder returns and gain strategic advantage in terms of market visibility and positioning.  And Zenith Bank emerging the winner this year, was said to be a testament to the strong management, sound business model and prudent risk approach of the bank.
 
 
According to The Banker Magazine, Zenith Bank was selected based on the overall performance of the institution and the opinion of leading financial analysts from the world’s financial markets.
 
 
Market operators said the award has attracted more patronage, rekindling investor confidence in the future prospects of the bank.
Meanwhile, Nestle Nigeria Plc led the price losers with N49.50 to close at N1, 200 per share. Unilever Nigeria Plc trailed with a decline of N2.37 to close at N59.01, while Nigerian Breweries Plc went down by N1.50 to be at N168 per share.
On the other hand, Guinness Nigeria Plc led the price gainers, chalking up N2 to close at N262. Oando Plc garnered N0.69 to close as the second highest gainer at N15.21.

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