Union Bank of Nigeria Plc (UBN) will upgrade 60 of its branches in order to adequately serve its customers. The Group Managing Director of UBN, Mr. Emeka Emuwa, who disclosed this in a report obtained by THISDAY, noted that the move is part of the key priorities of the bank in 2014.
According to him, UBN’s customer experience is critical to its success and the bank would continue to improve its operational and service effectiveness to allow it become competitive in the industry.
“Our key priorities for 2014 will include: enforcement of our redesigned model to focus on retail, commercial and corporate business segments. Optimisation of our branch network which would see over 60 branches in key locations upgraded in order to adequately serve our customers,” Emuwa said.
He added that the bank will increase customer touch points vial electronic platforms such automated teller machines(ATMs), point of sale(POS) mobile and online banking, which will simply customers banking experience.
“We will upgrade our bank-wide information technology (IT) infrastructure to enhance service delivery and increase reliability, roll out of a revitalised brand that reflects our strategy and renewed positioning. We will also complete the divestment process from portfolio companies to ensure core focus on our commercial banking business,” Emuwa said.
The UBN boss had said the bank’s main priority was to improve its efficiency by addressing operational challenges and implementing cost optimisation initiatives.
He said the second priority was to develop medium term strategy which clearly outlined a road map to realising the bank’s ambition to be a highly respected provider of quality banking services. Emuwa declared that the bank made considerable progress on both fronts.
Shareholders of UBN recently approved the request of the directors of the bank to raise about $750 million (N120 billion) capital.
Chairman of UBN, Udoma Udo Udoma explained that the fresh capital would facilitate the execution of the bank’s new strategies.
According to him, UBN finalised its three year strategy which provided a clear direction for its future growth in line with the on-going transformation programme.
“Union Bank aspires to be a highly respected provider of quality banking services, and to achieve this, the bank has identified six core areas, which are pivotal to tis success-the quality of our customer experience, the quality of our client base, the quality of our talent, the quality of our banking platform and our professional standards and the quality of our earnings,” Udoma said.